Ice Maker Market is expected to grow at a CAGR of 5.12% during the forecast period and market is expected to reach US$ 6.65 Bn. by 2029.
Ice Maker Market Overview:An Ice Maker is also known as an ice generator or ice machine and is used for making ice in residential, commercial, and Industrial sectors. An Ice maker is an electronic machine manufactured using various components, such as motors, compressors, condensers, evaporator, throttle valve, and heating elements. The key market players are now focusing on developing sustainable ice makers, which are expected to reduce the overall consumption of electricity and water to enhance machines' efficiency and their customer base.To know about the Research Methodology :- Request Free Sample Report
Ice Maker Market Dynamics:The rapid growth of the food & beverage industry, seafood & meat food processing industries, where ice is used to maintain raw ingredients as well as final products frozen and fresh are expected to drive the global ice maker market growth. In addition, the popularity of cocktails, presentation drinks, and usages of ice in bars, high-end restaurants are also expected to boost the market growth. In addition, changing lifestyles and high per capita income have resulted in the development of fast-food chains. These factors coupled with the increased need to store perishable items, primarily food and food ingredients, are driving the ice maker market. The growing demand for ice in the healthcare and pharmaceutical sector for storing organs, dead bodies, specific medicine, and aiding rehabilitation procedures. Growing awareness and acceptance of cryotherapy also known as cold therapy is fueling the Ice Maker market growth during the forecast period. In addition, Ice Makers are also utilized in microbiology, biotechnology, biochemistry, and genetic engineering laboratories to store biological samples along with transportation of these samples from one place to another. These are some of the factors which drive the market growth for the Ice Maker market across the globe. The growing adoption of ice makers in residential, commercial, and industrial sectors for storing and preserving perishable goods or items is expected to provide new market opportunities for Ice Maker across the globe. The emergence of modern homes and modal kitchens with in-built bars are increasing the adoption of ice makers in homes. The high initial investment and maintenance cost of ice maker products is the major factor, which hinders the growth of the ice maker market across developing and undeveloped countries, such as Brazil, India, China, and others. The shift in the preference of consumers towards household refrigerators along with built-in ice makers is one of the key industry challenges. Setting up a suitable ice maker for a specific business needs expertise as well as a substantial investment.
Ice Maker Market Segment Analysis:Based on the product type, the Ice Maker Market is segmented into Ice Cube Maker, Ice Flake Maker, Ice Nugget Maker, and others. The Ice Cube maker segment held the largest market share accounted for 48.1 % in 2022 and it is expected to grow at a CAGR of 6.1% during the forecast period. The increasing usage of ice cubes in residential and commercial sectors drives the ice maker market growth for this segment. The use of gourmet ice and rhomboid ice cubes are utilized for consumption with alcoholic and non-alcoholic beverages at hotels, restaurants, offices, and homes are influencing the ice maker market statistics. The Ice Flake Maker segment is expected to witness significant growth with a CAGR of 5.3% during the forecast period. Flake ice provides less contact and damage with refrigerated materials, which makes them more preferable among consumers. Flake ice is used as the direct source of water in the concrete cooling process, more than 80% in weight. Concrete will not crack if has been mixed and poured at a constant and low temperature. Based on Application, the ice maker market is segmented into foodservice, retail, healthcare, residential, and others. The Foodservice segment accounted for the largest share 36.84 % of the global Ice Maker in 2022. The rising frequency of eating out at hotels, restaurants, and cafes by the urban population, is driving the market growth for this segment. The rising per capita income and expanding food and beverage industry also drive the product demand for this segment. The healthcare segment is expected to witness rapid growth with a CAGR of 5.93% during the forecast period. An Increasing necessity of ice makers in the healthcare sector for various applications such as cold compression therapy, rehabilitation procedures, transport of vaccine, and tissue & organ transplantation, fuels the product demand for this segment.
Ice Maker Market Regional Insights:North America region held the largest market share accounting for 36.91 % in 2022. The ice maker market growth is attributed to the high penetration of ice in the foodservice industry, coffee chains, bars, and lounges. An increase in the adoption of the modal kitchen with high-tech appliances in commercial and household sectors is expected to drive regional market growth. In addition, the presence of key market players, increase in global trade, technological advancements, and increase in R&D activities for improving product technology are driving the Ice Maker Market growth for this region. Asia Pacific region is expected to witness a significant CAGR of 5.39% during the forecast period. The rapid growth in the travel and tourism industry is providing the expansion of regional restaurants and hotels, fueling the ice-making machines market demand for this region. The objective of the report is to present a comprehensive analysis of the Trampoline Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Trampoline Market dynamic, structure by analyzing the market segments and projecting the Trampoline Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Trampoline Market make the report investor’s guide.
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Global Ice Maker Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 4.68 Bn. Forecast Period 2023 to 2029 CAGR: 5.12% Market Size in 2029: US $ 6.65Bn. Segments Covered: by Product Ice Cube Maker Ice Flake Maker Ice Nugget Maker Others by Type Freezer Ice Makers Built-in and Freestanding ice Makers Portable Ice Makers by Application Foodservice Retail Healthcare Residential Others
Ice Maker Market by RegionAsia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) North America (United States, Canada and Mexico) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)
Ice Maker Market Key Players1. Hoshizaki Corporation 2. Manitowoc Company, Inc. 3. Scotsman Industries, Inc. 4. Whynter LLC 5. Ice-O-Matic 6. AB Electrolux 7. Teknotherm Inc. 8. Himalayan Equipment Manufacturing Co. 9. MaxxIce 10. Howe Corporation 11. Cornelius, Inc. 12. Middleby Corporation 13. A & V Refrigeration Corp 14. NewAir 15. Haier America Company 16. LLC 17. Zhejiang Litian Industrial Co. Ltd 18. Sunpentown (SPT) Inc. 19. Cornelius, Inc.
Frequently Asked Questions:1] What segments are covered in the Ice Maker Market report? Ans. The segments covered in the Ice Maker Market report are based on product type, Type and Application. 2] Which region is expected to hold the highest share in the Ice Maker Market? Ans. North America region is expected to hold the highest share in the Ice Maker Market. 3] What is the market size of the Ice Maker Market by 2029? Ans. The market size of the Ice Maker Market by 2029 is US $ 6.65 Bn. 4] Who are the top key players in the Ice Maker Market? Ans. Hoshizaki Corporation, Manitowoc Company, Inc., Scotsman Industries, Inc., Whynter LLC, Ice-O-Matic, AB Electrolux, Teknotherm Inc., Himalayan Equipment Manufacturing Co., MaxxIce, Howe Corporation, Cornelius, Inc, Middleby Corporation, A & V Refrigeration Corp, NewAir, Haier America Company, LLC, Zhejiang Litian Industrial Co. Ltd, Sunpentown (SPT) Inc., and Cornelius, Inc. 5] What was the market size of the Ice Maker Market in 2022? Ans. The market size of the Ice Maker Market in 2022 was US $ 4.68 Bn.
1. Global Ice Maker Market: Research Methodology 2. Global Ice Maker Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Ice Maker Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Ice Maker Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Ice Maker Market Segmentation 4.1 Global Ice Maker Market, by Product (2022-2029) • Ice Cube Maker • Ice Flake Maker • Ice Nugget Maker • Others 4.2 Global Ice Maker Market, by Type (2022-2029) • Freezer Ice Makers • Built-in and Freestanding ice Makers • Portable Ice Makers 4.3 Global Ice Maker Market, by Application (2022-2029) • Foodservice • Retail • Healthcare • Residential • Others 5. North America Ice Maker Market(2022-2029) 5.1 North America Ice Maker Market, by Product (2022-2029) • Ice Cube Maker • Ice Flake Maker • Ice Nugget Maker • Others 5.2 North America Ice Maker Market, by Type (2022-2029) • Freezer Ice Makers • Built-in and Freestanding ice Makers • Portable Ice Makers 5.3 North America Ice Maker Market, by Application (2022-2029) • Foodservice • Retail • Healthcare • Residential • Others 5.4 North America Ice Maker Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Ice Maker Market (2022-2029) 6.1. European Ice Maker Market, by Product (2022-2029) 6.2. European Ice Maker Market, by Type (2022-2029) 6.3. European Ice Maker Market, by Application (2022-2029) 6.4. European Ice Maker Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Ice Maker Market (2022-2029) 7.1. Asia Pacific Ice Maker Market, by Product (2022-2029) 7.2. Asia Pacific Ice Maker Market, by Type (2022-2029) 7.3. Asia Pacific Ice Maker Market, by Application (2022-2029) 7.4. Asia Pacific Ice Maker Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Ice Maker Market (2022-2029) 8.1 Middle East and Africa Ice Maker Market, by Product (2022-2029) 8.2. Middle East and Africa Ice Maker Market, by Type (2022-2029) 8.3. Middle East and Africa Ice Maker Market, by Application (2022-2029) 8.4. Middle East and Africa Ice Maker Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Ice Maker Market (2022-2029) 9.1. South America Ice Maker Market, by Product (2022-2029) 9.2. South America Ice Maker Market, by Type (2022-2029) 9.3. South America Ice Maker Market, by Application (2022-2029) 9.4 South America Ice Maker Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Hoshizaki Corporation 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Manitowoc Company, Inc. 10.3 Scotsman Industries, Inc. 10.4 Whynter LLC 10.5 Ice-O-Matic 10.6 AB Electrolux 10.7 Teknotherm Inc. 10.8 Himalayan Equipment Manufacturing Co. 10.9 MaxxIce 10.10 Howe Corporation 10.11 Cornelius, Inc. 10.12 Middleby Corporation 10.13 A & V Refrigeration Corp 10.14 NewAir 10.15 Haier America Company 10.16 LLC 10.17 Zhejiang Litian Industrial Co. Ltd 10.18 Sunpentown (SPT) Inc. 10.19 Cornelius, Inc.