CCTV News Report: According to the latest data released by the China Federation of Logistics & Purchasing (CFLP) on August 25, the first half of 2024 witnessed rapid growth in China’s cold chain market. Investments in cold storage projects surged, and sales of new energy refrigerated trucks experienced explosive growth, further expanding the cold chain market.
Market Expansion: Steady Growth in Key Metrics
In the first half of 2024, China’s cold chain logistics totaled ¥3.22 trillion, marking a 3.9% year-on-year increase. The total volume of cold chain logistics reached 220 million tons, up by 4.4%. Meanwhile, cold chain logistics revenue grew to ¥277.9 billion, a 3.4% rise compared to the same period last year.
Cui Zhongfu, Vice President of CFLP, emphasized that the cold chain market remains on a stable growth trajectory. This growth is driven largely by increased consumer demand for high-quality products, which, in turn, boosts the demand for cold chain logistics.
Accelerated Development of Cold Storage Facilities
As of June 30, 2024, China’s total cold storage capacity reached 237 million cubic meters, reflecting a 7.73% year-on-year increase. Notably, 9.42 million cubic meters of new cold storage capacity were added this year. In the first half of 2024, nationwide cold storage leasing volume exceeded 29 million cubic meters, up by over 8%. Significant efforts are being made to construct cold storage facilities in production areas, facilitating the seamless distribution of fresh agricultural products.
Policy Support Spurs New Energy Refrigerated Truck Sales
Thanks to supportive policies and improved new energy infrastructure, sales of new energy refrigerated trucks skyrocketed. In the first half of 2024, 4,803 new energy refrigerated trucks were sold, a staggering 292.72% increase year-on-year.
Conclusion
China’s cold chain market is experiencing rapid development, underpinned by advancements in infrastructure, rising consumer demand, and supportive policies. The growth of new energy refrigerated vehicles and cold storage facilities highlights the sector’s pivotal role in the evolving supply chain landscape.
Post time: Nov-12-2024