December 17, 2019
According to the latest study titled ‘Ice Maker Market Size by Product (Ice Cubes, Ice Flakes, Ice Nuggets), By Application (Residential, Commercial [Food Service, Healthcare], Industrial), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global icemaker market is estimated to accumulate USD 2.5 billion by the year 2025.
The growth in demand for several kind of ice-making machines such as gourmet, square, and large ice cubes is propelled by the emergence of high-end & boutique bars. Rising disposable incomes, growing environmental concerns, along with shifting focus of manufacturers to produce energy efficient and hydrocarbon refrigerant based versatile machines at low cost are augmenting the ice maker market outlook.
Based on product type, ice maker market from ice nuggets segment is presumed to witness a decent growth in the upcoming years, owing to shifting consumer preference for cocktails and presentation drinks across high-end bars and restaurants. Ice nuggets are generally used for cooling purposes and for beverage representation in shopping stores, bars, departmental stores, and grocery stores.
Considering the application spectrum, the commercial segment of ice maker market is split into food service sector and healthcare sector. The later segment is witnessing an accelerated growth due to rising demand for ice maker systems for applications such as storing organs and rehabilitation procedures. On the other hand, the food service sector is slated to continue its dominance during the predicted time period owing to rise in demand of different shapes and sizes of icemakers in large chain hotels to offer a reliable and consistent ice source for visitors.
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Considering geographical landscape, ice maker market is fragmented into five major regions such as Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. Surging demand for fast food and beverages, in tandem with growing infrastructure development of new supermarkets, hypermarket, and restaurant chains are the major factors aiding the growth of ice maker market across various regions of Middle East.
Some of the vendors that operate in ice maker market are Cornelius, Inc., Howe Corporation, Hoshizaki Corporation, Ali Group S.p.A., Middleby Corporation, Manitowoc Ice, Brema Group S.p.A., AB Electrolux, and North Star Ice Equipment Corporation among others.
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