Ice is a very significant for various industries, such as hospitality, healthcare, and food service. While ice keeps drugs and medical equipment safe for human administration in the healthcare sector, it chills foods and drinks in the hospitality industry for future use. According to World Health Organization, global healthcare expenditure is expected to grow at a significant CAGR of 3.9% from 2021 to 2024, substantially more than the 2.8% CAGR recorded between 2015 and 2019. Such considerable expenditure in healthcare is expected to drive the demand for ice makers from the hospitality industry.
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Data Bridge Market Research analyses that the Ice Maker Market is expected to reach USD 3,499.09 million by 2029 from USD 2,845.15 million in 2021, growing with a CAGR of 3.00% in the forecast period of 2022 to 2029. The evolving food and beverage sector and the increasing fast-food industry globally are expected to drive market growth. New market opportunities will create when ice makers are used more commonly to store unpreserved goods in the commercial, home, and industrial sectors.
Increasing adoption of ice makers in commercial, residential and industrial sectors is expected to drive the market's growth rate
A residential ice maker is mostly used in businesses and at homes. This type of ice maker makes clear ice cubes very effectively. Several residential ice makers are used at homes, but there are some other alternatives of residential ice makers which are used in businesses such as hotels, supermarkets, coffee shops, restaurants and more. Therefore, the increased demand for cold drinks and adoption of a modern lifestyle enables consumers to purchase residential ice makers because this aids them in getting the required results. Moreover, commercial ice makers make a large amount of ice and are used in numerous businesses such as bars, restaurants, hotels, and hospitals. Thus, the increasing demand for ice makers in commercial sectors is further anticipated to drive the market's growth rate. Also, industrial ice making machines are considered for industrial applications such as concrete manufacturing, industrial catering, chemical processing and wholesale/retail food industries. The rapid industrialization, particularly among the developing economies, is expected to significantly drive the demand for the industrial ice makers.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Modular/Ice Machine Head, Under Counter Ice Machines, Countertop Ice Dispenser/Makers, Combination Ice/Water Machines, And Others) , Product Type (Cube Ice, Nugget Ice, Gourmet Ice, Crescent Ice, Flake Ice and Others) Condensing Units Type (Air Cooled, Water Cooled, Remote Cooled, And Others), Size (7-10 OZ. CUP, 11-16 OZ.CUP, 17-24 OZ. CUP And Others), Material (Metal, Plastic, Rubber, Fibreglass And Others) , Application (Residential, Commercial, Industrial And Others), End User (Food Services And Healthcare)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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A&V Refrigeration (U.S.), AB Electrolux (Sweden), Ali Group (Italy), Marmon Foodservice Technologies, Inc. (U.S.), BREMA GROUP S.p.A. (Italy), Direct Catering Products Ltd. (U.S.), HOSHIZAKI CORPORATION (Japan), Howe Corporation (U.S.), ITV Ice Makers Inc (U.S.), ZIEGRA Eismaschinen GmbH (Germany), Manitowoc Ice (U.S.), The Middleby Corporation (U.S.), WHYNTER LLC (U.S.), NewAir (U.S.), Orien (Finland), Sunpentown Inc. (U.S.), Changshu Lingke Electric Appliance Co. Ltd (China), Holiday Ice (U.S.), Maxx Ice (U.S.), and Summit Appliance (U.S.) among others.
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
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Segment Analysis:
The ice maker market is segmented on the basis of type, product type, condensing units type, size, material, application and end user.
- On the basis of type, the global ice maker market is segmented into modular/ice machine head, under counter ice machines, countertop ice dispenser/makers, combination ice /water machines and others. In 2022, modular/ice machine head segment is expected to dominate the market with a CAGR of 3.0% in the forecast period of 2022 to 2029 owing to growing demand for a lot of ice in food service market.
- On the basis of product type, the global ice maker market is segmented into cube ice, nugget ice, gourmet ice, crescent ice, flake ice and others.
The cube ice segment of product type segment is anticipated to dominate the ice maker market
The cube ice segment is expected to dominate the market with a CAGR of 3.0% in the forecast period of 2022 to 2029 because it has small and medium size which is comfortable for consumers to use in any type of food. Thus, these facts attract more consumers and hence aids the market to develop rapidly in upcoming years.
- On the basis of condensing units’ type, the global ice maker market is segmented into AIR cooled, water cooled, remote cooled and others. In 2022, air cooled segment is expected to dominate the market with a CAGR of 3.3% in the forecast period of 2022 to 2029 owing to increasing demand of air-cooled ice maker maintaining to its easy installation and cheap price.
- On the basis of size, the global ice maker market is segmented into 7-10 O.Z. CUP, 11-16 O.Z.CUP, 17-24 O.Z. CUP and others. In 2022, 7-10 Oz Cup segment is expected to dominate the market with a CAGR of 3.2% in the forecast period of 2022 to 2029 because this size is mostly bought by all the industries due to its small sized, light weight properties.
- On the basis of material, the global ice maker market is segmented into metal, plastic, rubber, fibreglass and others. In 2022, metal segment is expected to dominate the market with a CAGR of 3.6% in the forecast period of 2022 to 2029 owing to increasing adoption of corrosion-resistant and long lasting material for ice maker.
- On the basis of application, the global ice maker market is segmented into residential, commercial, industrial and others.
The commercial segment of application segment is anticipated to dominate the ice maker market
The commercial segment is expected to dominate the market with a CAGR of 3.2% in the forecast period of 2022 to 2029 due to augmented demand for alcoholic beverages, cold drinks and changing lifestyle of consumers which allows them to go in restaurants, café and food service centers. Thus, this eventually drives the growth of the market in coming years.
Major Players
Data Bridge Market Research recognizes the following companies as the major ice maker market players in ice maker market A&V Refrigeration (U.S.), A.B. Electrolux (Sweden), Ali Group (Italy), Marmon Foodservice Technologies, Inc. (U.S.), BREMA GROUP S.p.A. (Italy), Direct Catering Products Ltd. (U.S.), HOSHIZAKI CORPORATION (Japan), Howe Corporation (U.S.), ITV Ice Makers Inc (U.S.), ZIEGRA Eismaschinen GmbH (Germany), Manitowoc Ice (U.S.), The Middleby Corporation (U.S.), WHYNTER LLC (U.S.).
Market Development
- In 2021, Qualeben, a new kitchenware brand, launched a brand new nugget ice maker. This is the first ice maker called Munch which highlights the chewable nugget ice, the machine produces. It also has multiple features and functions, making it competitive and user-friendly.
- In 2020, Elanpro has launched a portable ice maker with different and new features such as an optional online plumbing and single water tap, for restaurants, bars, and luxury apartments
- In 2020, Hoshizaki America, Inc. started their partnership with Fastcomm to provide remote monitoring solution for Hoshizaki K.M. cuber ice machines. This new technology provides machine health check status and the status of ice making.
Regional Analysis
Geographically, the countries covered in the ice maker market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in ice maker market during the forecast period 2022 to 2029
North America dominates the ice maker market because of the considerable investment for adopting new healthcare facilities, North America is expected to lead the global market due to early adoption of advanced products and the presence of major competitors.
Asia-Pacific is estimated to be the fastest-growing region in ice maker market the forecast period 2022 to 2029
Asia-Pacific is anticipated to be the fastest-growing region during the forecast period of 2022 to 2029. This is mainly owing to the rise in the population and augmented investments in the healthcare industry. Moreover, the growth of numerous retail chains and establishments will further boost the market growth throughout the projected period.
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