Goldman sees China entering Go Global 3.0 export era

Investing.com -- Goldman Sachs has identified China's entry into what it calls the "Go Global 3.0" era, marking a new phase of exports focused on AI-enabled and technology-led industrial capabilities. These exports range from AI data center power infrastructure to physical AI applications including robotics and automation.

The investment bank analyzed 11 product-based export opportunities with global total addressable markets ranging from $12 billion to $212 billion by 2030. Goldman categorized these opportunities into four archetypes: Bottleneck Solvers, Technology Upgraders, Established Global, and Idiosyncratic Opportunities.

Goldman forecasts the largest market share gains and margin improvements for companies classified as Bottleneck Solvers during 2026 to 2030, driven by supply and demand dynamics. The bank maintains Buy ratings on Sieyuan, Kstar, and Yingliu within this category.

Technology Upgraders represent the second category, with rapid engineering and technological iteration serving as the main competitive advantage. Goldman maintains a Buy rating on Envicool in this segment. The bank also rates Hongfa, a leader in electrical relay components, as Buy, noting the company has demonstrated proven success.

Goldman said the long-term success of these companies beyond 2030 will depend on how long the supply and demand gap persists and their ability to meet the operational standards required by global utility and industrial clients. The bank noted that Western competitors maintain an advantage in providing localized aftermarket support and lifecycle services.

For companies in the Established Global category, including energy storage and humanoid robot manufacturers, Goldman expects near-term challenges related to market access. These companies must navigate international regulatory, safety, and environmental compliance requirements. The bank maintains a Neutral rating on Sungrow.

Goldman projects a slower initial international expansion for Chinese industrial robotics and automation companies such as Inovance and Estun, which fall under the Idiosyncratic Opportunities category. The bank said these companies maintain strong product competitiveness, research and development speed, and cost advantages that could position them for long-term success.

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