On August 27th, the 19th Frost & Sullivan Global Growth, Innovation and Leadership Summit and the 4th New Investment Conference (hereinafter referred to as the '2025 Frost & Sullivan New Investment Conference') ESG and New Productivity Summit Forum, hosted by the world-leading growth consulting firm Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan'), was grandly held at the Shanghai Jing'an Shangri-La Hotel. The forum, themed 'Sustainable Development and New Productivity', brought together industry leaders, leading enterprises, investment institutions, and professional service providers. It focused on new investment and financing opportunities in the fields of sustainable development and new productivity, and jointly explored the capital and industrial forces that enable enterprises to navigate cycles.
At this forum, Singauto CCO Chen Jianfeng shared a keynote speech titled 'How New Energy Commercial Vehicles Embrace the Growing Demand for Global Cold Chain Logistics'.
Chen Jianfeng conducted an in-depth analysis of the development trends of new energy commercial vehicles and their application prospects in the cold chain logistics scenario. He pointed out that the accelerated implementation of global emission reduction and carbon neutrality policies is bringing unprecedented opportunities to the industry.
Singauto CCO, Chen Jianfeng
The following are the key points of Chen Jianfeng's speech:
I. Rapid expansion of the global electric commercial vehicle market
Chen Jianfeng introduced that the current global commercial electric vehicle market size is about $1.4 trillion, and commercial vehicles emit 14 times more carbon dioxide than passenger vehicles. Countries are accelerating the implementation of emission reduction policies: the EU plans to reduce carbon dioxide emissions by 15% by 2025 and by 30% by 2030; the Kingdom of Saudi Arabia requires fleet electrification to reach 30% by its strategic vision in 2030; South Korea expects to have a fleet of 30,000 fuel cell electric trucks by 2040.
Against this backdrop, global sales of electric commercial vehicles are growing rapidly: from 200,000 units in 2020 to 800,000 units by 2024, with an average annual compound growth rate of 50%. It is estimated that by 2030, the penetration rate of new energy commercial vehicles globally will increase from 4.1% in 2024 to 17%, with annual sales expected to reach 4.3 million units.
II. Cold chain logistics faces new energy upgrades
The demand for cold chain logistics is widespread, covering areas such as food freshness, catering retail, biomedicine, and industrial chemicals. Its development is driven by multiple factors including technological innovation, consumer preferences, government regulation, and sustainable development. New energy refrigerated transportation not only helps improve preservation, anti-corrosion, and fleet management levels but also demonstrates advantages in terms of exhaust emissions, noise, road rights, and energy consumption. Combined with assisted driving technology, it can effectively reduce operating costs.
In 2024, global sales of new energy refrigerated transport vehicles reached 37,000 units, with Asia leading the market with approximately 25,000 units, accounting for 68%; the EMEA region ranked second, accounting for 22.1%. It is estimated that by 2030, global sales of new energy refrigerated vehicles will increase to 268,000 units, with a compound growth rate of up to 39.3% from 2024 to 2030. Asia and the EMEA region will become the main growth engines.
Chen Jianfeng specifically pointed out that the combination of religious consumption habits and climatic conditions has made Southeast Asia and Central and North-East Africa important growth points for the cold chain market. The scale of the halal food market is expected to grow from $3.2 trillion in 2015 to $7.7 trillion by 2025, placing strict demands on cold chain transportation: the entire logistics process must avoid cross-contamination, facilities such as cold storage, refrigerated trucks, and freezers must be dedicated to this purpose, and it is strictly forbidden to transport with prohibited items in the same vehicle.
"Driven by both the halal and cold chain markets, new energy commercial vehicles are not only an important tool for low-carbon transformation but will also become the core driving force for the upgrade of the global cold chain logistics industry," said Chen Jianfeng.
III. New Asia Technology (SINGAUTO)'s Intelligent Logistics Full-Industry Chain Solution
SINGAUTO is an international new energy commercial vehicle company headquartered in Singapore, dedicated to providing sustainable, intelligent, and efficient economic logistics solutions. The company has R&D centers, manufacturing, and strategic bases in Southeast Asia, Greater China, and the Middle East, focusing on developing electric commercial vehicles including refrigerated trucks and light trucks. SINGAUTO is actively building a collaborative ecosystem that integrates vehicles, energy infrastructure, financial services, and digital fleet management platforms to help global enterprises achieve net-zero emission goals and improve profitability. Among them, the company has launched the new energy low-threshold entry-level intelligent light truck, which features multi-zone intelligent control functions and can achieve multi-functional and multi-scenario expansion with flexible compatible chassis, further enriching its solutions in the field of new energy intelligent commercial vehicles.
Overall, global cold chain logistics is becoming a key track for the application of new energy commercial vehicles, driven by consumer upgrading and the rapid development of industries such as biomedicine. With the continuous strengthening of carbon emission reduction policies in various countries and the continuous breakthroughs in electrification and intelligent technologies, the new energy refrigerated transportation market is entering a period of rapid growth. Singauto will adapt to this trend, relying on its international layout and full industrial chain solutions, seizing structural opportunities in the industry, and promoting the green transformation and value enhancement of global cold chain logistics.
