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【行业研报纪要】SST产业化正在加速,重点推荐!

  • 2026-05-27 20:56:21
【行业研报纪要】SST产业化正在加速,重点推荐!

#产业趋势：

SST是AIDC终极解决方案。AI时代单机柜功率密度提升，AIDC供电架构面临从交流向直流迭代的趋势，SST具有供电效率高、占地面积小、适配绿电直连等优势，或是终极解决方案。
近期产业有变化、商业化正在加速：目前台达引领SST产业化，伊顿、维谛也在加速，国内电力电子相关公司都积极布局。
➡️台达：SST送样四大云厂商持续推进，其中谷歌进度较快，预计26年有小批量订单，并进一步指引需求框架。此外，台达35kV级SST 将于26年底推出，继续引领行业。
➡️伊顿：10kV SST预计27年底开始出货，与超大规模云厂的试点工作正在进行，并预计27年推出35kV版本。 
➡️国内玩家：四方4月发布第一代样机，与合作伙伴的合作顺利，后续进度有望加快；金盘25H2推出样机，推进北美挂网测试中；伊戈尔也发布了PST/SST产品，并在欧美展会推出。此外，阳光、禾望、盛弘电力电子领先企业均在SST方向有布局。
#SST产业链。从成本构成来看，功率器件占比预计50%左右、高频变预计20%左右。功率器件的成熟度（耐压/开关频率/成本）、高频变的设计和工艺（绝缘、局放、电晕）决定了SST的性能和产业化进度。目前台资/外资/国内SST企业都在培育/合作相关高频变企业，重视有卡位优势的玩家，如可立克（台达链）、伊戈尔（台达链）、京泉华（伊顿链）等。  重点推荐：四方、金盘、伊戈尔、阳光、可立克（股价中SST预期较低，有弹性，最新调研欢迎交流）等。另外，中压UPS产业也在突破，继续推荐盛弘、禾望。

【郑重声明】本文所有内容均不构成任何投资建议。本文仅是个人随心笔记及个人看法，不具有任何指导作用，亦不代表笔者所在机构观点，不具有任何指导作用。据此操作，风险自负。

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  136. /yingpanguazai/ssd/ssd1/www/e.15386.cn/vendor/topthink/think-template/src/Template.php ( 46.61 KB )
  137. /yingpanguazai/ssd/ssd1/www/e.15386.cn/vendor/topthink/think-template/src/template/driver/File.php ( 2.41 KB )
  138. /yingpanguazai/ssd/ssd1/www/e.15386.cn/vendor/topthink/think-template/src/template/contract/DriverInterface.php ( 0.86 KB )
  139. /yingpanguazai/ssd/ssd1/www/e.15386.cn/runtime/temp/99024188178db16440710d184953c4ae.php ( 12.06 KB )
  140. /yingpanguazai/ssd/ssd1/www/e.15386.cn/vendor/topthink/think-trace/src/Html.php ( 4.42 KB )
  1. CONNECT:[ UseTime:0.000832s ] mysql:host=127.0.0.1;port=3306;dbname=e_15386;charset=utf8mb4
  2. SHOW FULL COLUMNS FROM `fenlei` [ RunTime:0.001147s ]
  3. SELECT * FROM `fenlei` WHERE `fid` = 0 [ RunTime:0.000469s ]
  4. SELECT * FROM `fenlei` WHERE `fid` = 63 [ RunTime:0.000464s ]
  5. SHOW FULL COLUMNS FROM `set` [ RunTime:0.000938s ]
  6. SELECT * FROM `set` [ RunTime:0.000363s ]
  7. SHOW FULL COLUMNS FROM `article` [ RunTime:0.001056s ]
  8. SELECT * FROM `article` WHERE `id` = 459168 LIMIT 1 [ RunTime:0.000645s ]
  9. UPDATE `article` SET `lasttime` = 1779905520 WHERE `id` = 459168 [ RunTime:0.006475s ]
  10. SELECT * FROM `fenlei` WHERE `id` = 65 LIMIT 1 [ RunTime:0.000425s ]
  11. SELECT * FROM `article` WHERE `id` < 459168 ORDER BY `id` DESC LIMIT 1 [ RunTime:0.000890s ]
  12. SELECT * FROM `article` WHERE `id` > 459168 ORDER BY `id` ASC LIMIT 1 [ RunTime:0.000779s ]
  13. SELECT * FROM `article` WHERE `id` < 459168 ORDER BY `id` DESC LIMIT 10 [ RunTime:0.001452s ]
  14. SELECT * FROM `article` WHERE `id` < 459168 ORDER BY `id` DESC LIMIT 10,10 [ RunTime:0.001484s ]
  15. SELECT * FROM `article` WHERE `id` < 459168 ORDER BY `id` DESC LIMIT 20,10 [ RunTime:0.001711s ]
0.134638s