Chinese Cold Storage Growth Slows in 2019

With the rapid development of the cold chain logistics industry in China, the cold storage design and construction markets have also embarked on a rapid growth track in China. According to statistics from Cold Chain Logistics Committee (CCLC), the total cold storage volume in China has seen more than 10% growth during the period spanning 2014 to 2018. At the end of 2018, China’s cold storage volume totaled 52.38 million tons (about 130 million m3), with 4.88 million tons of newly created cold storage capacity, indicating 10.3% year-on-year growth. However, many old cold storage facilities are facing phaseout, renovation or demolition, so the growth of the whole cold storage market has slowed down and the market scale in 2019 is estimated at 58.14 million tons.