The launch of BSRIA's China Refrigeration Market Study Report has become a regular feature during the annually held 'The International Exhibition for Refrigeration, Air-Conditioning, Heating and ventilation, Frozen Food Processing, Packaging and Storage'.
The 31st International Exhibition for Refrigeration, Air-Conditioning, Heating and ventilation, Frozen Food Processing, Packaging and Storage (hereinafter referred to as "China Refrigeration 2020") was held for 3 days from August 19 to 21, 2020. More than 300 exhibitors and over 20,000 professional visitors attended the exhibition, organized in accordance with strict health security guidance in response to the continued threat of Covid-19.
During China Refrigeration 2020, the Chinese Association of Refrigeration and BSRIA (BSRIA Business Consulting (Beijing) Co., Ltd.) hosted a joint press conference launching the "2019 China Refrigeration Market Study Report" (hereinafter referred to as the "Report").
The two organisations have collaborated since 2014, releasing the joint report on the Chinese refrigeration market on a yearly basis. The collaboration includes collection of market statistics and market analysis from various aspects such as Compressors, Condensing units, Refrigeration valves, Refrigerants, Air coolers, Refrigeration equipment and Regional markets. Moreover, the development of the future market is forecast, and the major market segments of the cold-chain logistics industry are analyzed comprehensively. The 2020 edition provides a comprehensive summary of the 2019 market development and reviews the impact of Covid-19 on the market in 2020 and beyond. The annual China Refrigeration Report has become an important reference for China's refrigeration industry and continues to be a valued tool for companies operating in the refrigeration industry to assess the market progress and potential.
At the conference, Martin Li, the General Manager of BSRIA China, introduced the methodology and scope of the report and gave some background and development of it over the past six years.
Chris Chu gave BSRIA’s view on the impact of the pandemic on the overall cold-chain market and stated that, "In the first half of this year, the cold-chain companies experienced varying degrees of operational difficulties due to the impact of the epidemic, and the business contraction in the first quarter was generally between 30-40%. However, as the epidemic gradually got under control in the second quarter, enterprises began to resume business and production, consumer demand gradually increased, and the business conditions improved. From a macroeconomic perspective, China's domestic production, consumption and investment are on the path of recovery, but the cold-chain industry is still under financial pressure with lack of investments into new projects. In the second half of the year, the market is expected to improve significantly, providing there is no second major outbreak of the disease.”
Every crisis also offers new opportunities. The Covid-19 epidemic will not change the general trend of consumption increase in China and in fact the epidemic has further raised people's attention to the quality of food and medicines. We believe that the cold-chain logistics industry will be able to build on this opportunity to seize new windfalls and progress going forward.