Refrigerated Vehicles Sales in China Jump 27% in 2019

http://www.chinaiol.com   2020/8/3 1:31:10   Source:产业在线ChinaIOL  

Beijing, China: Refrigerated vehicle sales increased 27% from 2018 to 2019, according to statistics from the Cold Chain Logistics Committee of the China Federation of Logistics and Purchasing.

More than half of these sales were light trucks, the most frequently sold in China. However, refrigerated vehicles are gradually evolving towards either heavy-duty or light-duty vehicles, the federation says.

Overall, China’s cold storage and refrigerated vehicle segments are both expected to grow at a double-digit rate over the next few years, according to CFLP. Both markets have been growing at an annual rate of 10%-20% since 2010, supported by the development of the food industry.

Between 2018 and 2019, China’s cold storage capacity increased by 14%. However, cold storage sites are still deemed to be inadequate. Higher traceability in cold chain logistics is required, particularly to ensure food safety, the China Federation of Logistics and Purchasing says.

Additionally, the refrigerated container segment is expected to grow exponentially as multimodal transport becomes more popular, it says.