As the manufacturing industry is the foundation of the national economy, many countries have made concerted efforts to promote the transition upgrading of manufacturing enterprises from political, industrial, and academic circles. This study employed content analysis to explore the transition upgrading factors for manufacturing enterprises from an energy source perspective. With the help of FsQCA (Fuzzy-sets qualitative comparative analysis), which can mine multivariate combination relationships using a small number of samples, this study quantitatively calculated the transition paths and energy source combinations of manufacturing enterprises. Three transition upgrading paths were proposed, including an innovation-oriented path, a business-oriented path, and an efficiency-oriented path. The results indicate that manufacturing enterprises can realize transition upgrading based on three key methods, including innovation resources and innovation activities, strategic layout, and production operation + network relationship (peripheral). Such a finding validated the rationality of the theoretical path design and improved the research depth and precision. Multiple case analyses of Huawei, Haier, and Lenovo reveal that manufacturing enterprises used three ways to promote transition upgrading: the joint action of innovation activities and innovation resources; the uni-directional causal effect of strategic layout adjustment to increase market value; and the coordination and matching role of network relations dominated by production and operation. We conclude that this study provides an effective decision-making basis and management reference for manufacturing enterprises, so that enterprises can choose an appropriate energy accumulation method and scientifically realize the transition upgrading.
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