Ice Maker Market Share, Growth Strategy, Trend Analysis, And Forecast 2028
According to a comprehensive research report by Axiom Market Research & Consulting Global Ice Maker Market has been witnessing significant growth in recent years, driven by the increasing demand for ice makers in various commercial and residential applications. Ice makers are commonly used in restaurants, bars, hotels, hospitals, and other places where ice is required for food storage and preparation, drinks, and medical purposes. Moreover, the rising popularity of cold beverages, frozen desserts, and cocktails is also boosting the demand for ice makers in households and small businesses.
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ICE
MAKER MARKET DRIVERS
The increasing sedentary lifestyle owing to
the growing jobs in the service sector in emerging economies like China and
India, has led to the development and growth of the food service industry. The
food service industry has evolved owing to the rise in the trend of eating away
from home. The use of advanced techniques and technologies has also helped the
food service providers increase their production and streamline their
activities to enhance overall efficiency. The increase in the millennial
working population, changing preferences for ready-to-eat foods, and the
growing need for customized and newer food and chilled beverage options have
propelled the demand for ice makers in the foodservice industry. Also, the
growing demand for storing predictable food and serving chilled beverages to
customers has led to increasing demand for products from the food service
industry globally. The continuous population growth, rapid urbanization, and
increasing disposable income are among the significant factors expected to
positively influence the demand for ice makers globally. Besides, the
increasing consumption of ice cubes in bars is likely to drive the market
growth. The rising popularity of alcoholic beverages, such as whiskey, and an
increasing number of people have started to opt for chilled drinks, thereby
driving the ice maker demand. The icemaker is used to lower the whiskey's
temperature a few notches, making it more palatable.
ICE
MAKER MARKET OPPORTUNITIES
The increasing expenditure on the
healthcare system by various governments across the globe in the wake of the
recent coronavirus outbreak is expected to drive the demand for ice makers in
hospitals. The expansion of the healthcare industry and growing investments in
the public and private healthcare industries are projected to stimulate growth.
One of the major factors propelling the industry's growth is the growing demand
for ice in the healthcare sector to store organs and help with recovery
procedures. Ice is used for organ storage, as if the cells and tissues of the
organ breakdown too much, the organ will not function properly, or at all. To
slow the breakdown, organs are rinsed with a preservation solution and cooled
to a temperature between 32-9 degrees Fahrenheit. This process delays the
breakdown of cells and creates a window of time during which the organ can be
outside of the body without causing irreversible damage. Further, the growing
healthcare industry is fuelling the adoption of ice makers for healing and
treatment applications. The increasing utilization of ice in cold therapy is
one of the major factors augmenting the ice maker’s industry.
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ICE
MAKER MARKET RESTRAINTS
However, the high price of the product
restrains market growth. For instance, the pellet ice makers on the market are
made for commercial settings like restaurants and gas stations. As such, they
have to produce enough ice to satisfy hundreds of customers a day. That kind of
capacity calls for a large, heavy, well-insulated machine, which imposes a
substantial material cost.
COVID-19
IMPACT ANALYSIS ON GLOBAL ICE MAKER MARKET
The COVID-19 pandemic has had a significant
impact on the global ice maker market. With the imposition of lockdowns and
restrictions on travel and hospitality, the demand for ice makers has been
severely affected. The closure of restaurants, bars, and hotels has led to a
decline in the demand for commercial ice makers, which are a major segment of
the market.
However, the pandemic has also led to an
increase in the demand for residential ice makers as more people are staying at
home and consuming food and beverages indoors. This has helped to partially
offset the decline in the commercial segment. Moreover, the rising awareness
about hygiene and cleanliness has led to an increase in the adoption of
self-contained ice makers, which do not require human contact for ice
dispensing.
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ICE
MAKER MARKET SEGMENTAL OVERVIEW
The ice maker market can be segmented based
on product type, end-use application, and geography. Based on product type, the
market can be further segmented into modular ice machines, self-contained ice
machines, undercounter ice machines, and countertop ice machines. End-use
applications of ice makers include the food and beverage industry, healthcare
facilities, hospitality and tourism, residential, and others. Geographically,
the market is segmented into North America, Europe, Asia Pacific, Latin
America, and the Middle East and Africa. These segments offer insights into the
market trends and opportunities specific to each category, helping
manufacturers and marketers to tailor their products and strategies to meet the
unique demands of each segment.
ICE
MAKER MARKET BY TYPE
·
Cube
·
Tube
·
Flake
·
Block
·
Others
ICE
MAKER MARKET BY CONDENSING UNIT TYPE
·
Air-Cooled
·
Water-Cooled
·
Remote Cooled
·
Others
ICE
MAKER MARKET BY APPLICATION
·
Food Service
·
Healthcare
·
Chemical Industry
·
Others
ICE
MAKER MARKET BY GEOGRAPHY
The ice maker market is segmented into various
regions, including North America, Europe, Asia Pacific, Latin America, and the
Middle East and Africa. North America is the largest market for ice makers,
owing to the presence of a large number of food and beverage establishments and
the growing demand for packaged food and beverages. The Asia Pacific region is
expected to witness the highest growth in the ice maker market, driven by the
increasing demand for ice makers in emerging economies such as China and India.
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MARKET
KEY PLAYERS
·
A&V Refrigeration
·
Patkol
·
Morris and Associates
·
Fujian Snowman
·
CBFI
·
Focusun
·
RECOM
·
AB Electrolux
·
Ali Group
·
BREMA GROUP S.p.A.
·
Hoshizaki Corporation
·
Gurdev Icecans Refrigeration
Industries
·
Chirag Ice Factory Pvt Limited
·
Mello
·
ZIEGRA
·
Eismaschinen GmbH
·
Middleby Corporation
·
Shenzhen Brother Ice System
·
Icetro America
·
Manitowoc Ice
·
Tamutom
RECENT
DEVELOPMENT:
September
2022: Shenzhen Brother Ice System (ICESTA) has
successfully tested the First one-stop Integrated Ground Refrigeration Supply
System for High-speed Rail Project, which consists of (316L stainless steel)
flake ice plants with automatic ice storage & delivery & Slurry ice
mixing system.
September
2022: CBFI has opened a new ice plant with 50T
flake ice rake automatic system. The project is located in Morocco. Morocco is
extremely rich in fishery resources. The export of sardines ranks first in the
world, and it is the largest fish-producing country in Africa. The solution
system we provide to customers integrates automatic ice making, ice storage.
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