China has about 30,000 refrigerated and insulated vehicles, while the United States of America or U.S.A., with almost the same land area as China, has more than 200,000 refrigerated and insulated vehicles. Japan with a land area of about only 1/20 of China has more than 100,000 refrigerated and insulated vehicles. Chinese population is 4.6 times that in the U.S.A and 9.6 times that in Japan respectively, indicating that China
has a great potential in the development of its refrigerated and insulated vehicle industry.
At present, China's domestic market is dominated by Zhenjiang Speed Automobile Group Co., Ltd, Henan Bingxiong Fresh-Preservation Equipments Co., Ltd, Zhengzhou Hongyu Special Vehicle Co., Ltd and Henan Xinfei Electrical Appliance (Group) Co., Ltd.
However, some new comers are trying to squeeze into the industry and the market competition will be fiercer. Let's take a look at the market shares of refrigerated and insulated vehicles by product in 2006. As for insulated vehicle, heavy-duty truck took up 1.4% of the market share, medium truck 15.8% and light truck 82.8%, while as to refrigerated vehicle, heavy-duty truck held 8.7% of market shares, medium truck 27.8% and light truck 63.5%. In the future, the product mix is to be further consolidated.
Insulated Vehicle Market Shares in 2006
Refrigerated Vehicle Market Shares in 2006
Source: ResearchInChina