The global ice maker market size was valued at $2,330.6 million in 2019, and is projected to reach $2,784.2 million by 2027, registering a CAGR of 4.4% from 2021 to 2027.
Ice Maker Market by Product Type (Modular Ice Maker, Undercounter Ice Maker, Countertop Ice Maker and Ice Dispenser) and Application (Food Service, Food Processing, Healthcare, Retail Outlet and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027
An ice maker which is also known as ice generator or ice machine is an appliance that produces ice artificially. There are four types of ice makers available in the market which includes modular ice maker, undercounter ice maker, countertop ice maker and ice dispenser. These equipment are widely used in food service industry, food processing industry healthcare industry, retail outlets and others. Development of the hospitality industry drives the demand for ice maker in commercial kitchens.
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Development of the food service industry is anticipated to drive the growth of the ice maker market. Moreover, rise in business related travel, surge in urban population, and rise in number of food joints such as hotels and restaurants fuel the growth of the hospitality industry, thereby driving the growth of the market. Change in food habits and busy lifestyle of consumers have led to increase in demand for ready-to-eat meals. Rapid changes in the supporting factors such as disposable income, consumer preferences, increase in working women population, and digitization have resulted into rise in number of quick-service, and other types of restaurants which in turn is driving the sales of the ice maker.
The outbreak of COVID-19 has severely hampered the ice maker market growth. Ice maker manufacturers are not able to provide maintenance and installation services to their customers, owing to availability of limited resources and implementation of lockdown. Amidst this health crisis, the workforce availability is limited, which further hampers the overall production of the ice makers. This, in turn, creates challenges for product deliveries, which hampers the growth of the ice maker industry.
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The global ice maker market segments are categorized into product type, application, and region. By product type, it is classified into modular ice maker, undercounter ice maker, countertop ice maker and ice dispenser. By application, it is divided into food service, food processing, healthcare, retail outlets and others. Region wise, the ice maker market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, India, Australia & New Zealand, Japan, ASEAN, Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey and Rest of LAMEA).
Region wise, the ice maker market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest market share in 2019. The North America food service market dominates the use of ice maker. However, Asia-Pacific is anticipated to grow at the highest CAGR during the ice maker market forecast period. The demand for commercial ice maker machines from APAC is likely to increase due to the expansion of several retail chains and stores in this geographic region. This in turn is expected to offer immense opportunities for the ice maker market growth in terms of value sales during the forecast period.
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The key players operating in the global ice maker market focus on prominent strategies to overcome competition, maintain as well as improve their share worldwide. Some of the major players in the global ice maker industry analyzed in this report include Hoshizaki corporation, Manitowoc ice (WELBILT, INC.), A & V Refrigeration Corp, Ali Group S.p.A., Middleby Corporation, Cornelius, Inc., Kold-Draft, North Star Ice Equipment Corporation, Whynter, LLC and U.S. Ice Machine Mfg. Co.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the current ice maker market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis and the ice maker market size and segmentation assists in determining the prevailing ice maker market opportunities.
Major countries in each region have been mapped according to their revenue contribution to the global industry.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.
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