储能行业景气度跟踪:大储需求快速提升,贸易摩擦积极应对

明远投研
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近期受电池出口管制及美国加征关税等事件影响,板块情绪有所波动,我们核心观点如下:1)关于出口管制,储能电芯能量密度普遍低于300Wh/kg,不在受限之列;针对北美关税,集成企业已通过布局东南亚及北美产能积极应对,年内产业链抢出口已锁定2026年业绩。同时,北美地区缺电问题持续,储能需求具备刚性,仍离不开中国供应链支持。2)从基本面看,大储已步入量利齐升阶段:国内电芯排产、系统中标持续高增长,下游...

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