Ice Maker Market
Ice Maker Market Study by Freestanding, Built-in, Countertop, Modular, and Under-Counter for Residential, Commercial, and Industrial Application From 2024 to 2034
Analysis of Ice Maker Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Ice Maker Market Outlook (2024 to 2034)
Worldwide revenue from the sales of ice makers is estimated to stand at US$ 4.04 billion in 2024 and is evaluated to increase at a CAGR of 3.9% to reach US$ 5.93 billion by 2034.
The use of smart technology in ice makers allows for remote diagnosis, control, and monitoring, which is one of the growing market trends. Smart features in smartphone applications or cloud-based platforms let users watch ice levels, change ice production parameters, and get alerts when maintenance is needed.
In the market, customization has also been quite important. Customized ice cubes, nugget ice, and mimicking ice are becoming more popular in the food service and specialty beverage industries. Manufacturers are currently developing ice makers that generate diverse types of ice to satisfy a broad range of client preferences.
The market for processed food is expanding because of the growing consumer demand for healthful foods. Demand is further driven by the rising consumption of processed foods and drinks. Ice makers are becoming an ideal choice for hotels as they provide various sizes and shapes to serve beverages.
The growing need for refrigerators in residential as well as businesses is driving the worldwide refrigerator industry market growth. This is restricting the market expansion for ice makers. One of the main factors limiting the demand for ice makers is the growing usage of refrigerators in homes and businesses. Recent technological advancements and improved refrigerator quality are driving their sales but negatively affecting the demand growth for ice makers.
| Report Attributes | Details |
|---|---|
| Ice Maker Market Size (2024E) | US$ 4.04 Billion |
| Forecasted Market Value (2034F) | US$ 5.93 Billion |
| Global Market Growth Rate (2024 to 2034) | 3.9% CAGR |
| ASEAN Market Share in South Asia & Pacific (2024E) | 15.4% |
| Western Europe Market Value (2024E) | US$ 440.5 Million |
| Industrial Segment Value (2024E) | US$ 1.69 Billion |
| Large Capacity Segment Value (2034F) | US$ 2.11 Billion |
| Key Companies Profiled | Hoshizaki Corporation; Manitowoc Ice; Cornelius Inc.; Whynter LLC; NewAir; Direct Catering Products Ltd; ITV Ice Makers; Howe Corporation |
The ice makers market is gaining momentum with the widening range of commercial applications of ice makers in the food & beverage industry. The manufacturing and marketing strategies adopted by the leading market players active in the ice makers market depend on the versatility of end-user applications of ice makers in the food & beverage industry. Manufacturers are introducing a variety of categories of ice makers, which include cube-type ice makers, automatic commercial ice makers, batch-type ice makers, air-cooled ice makers, and water-cooled ice makers, to target a large number of end-users.
According to the Energy Star, a voluntary program introduced by the United States Environmental Protection Agency (EPA), the purchasing behavior of consumers is mainly driven by the end-user applications and energy efficiency of ice makers.
The energy efficiency of ice makers is becoming an important factor in influencing sales in developed economies such as the U.S. and Europe. Consumers are becoming more aware of the importance of improving the energy efficiency of food equipment, which also reduces the operating costs of equipment such as ice makers.
Taking into account the factors that are prominently driving the purchasing decisions of consumers, manufacturers, and distributors of ice makers are adopting innovative manufacturing and marketing strategies that reduce the energy consumption of ice makers. Thereby, the demand for energy-efficient and application-specific ice makers is expected to remain high in the food & beverage industry.
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Future of Food Industry and Restaurants Industry Indicates Rising Demand for Ice Makers
Refrigerating systems are used in various industrial applications such as food preservation, distinct heating and cooling applications, medical processes, and energy-related applications. Taking into account the importance of industrial refrigeration processes, leading manufacturers in the ice makers market are making products for their specific commercial applications. Among all the other industries where ice makers are used, the QSR (quick service restaurant) industry remains the biggest end-user industry owing to the numerous food and beverage applications of ice makers.
Depending on the changing lifestyle and dietary habits of consumers, the number of food chains, restaurants, and cafes is likely to increase rapidly in the upcoming years. The growth parameters of the QSR industry will influence the expansion of the ice makers market shortly.
The National Restaurant Association stated that the restaurant industry witnessed sales of over US$ 683 billion across around 1 million locations in the year 2014. Later, with the improvements in the global economy, increased discretionary income, and a fast-paced consumer lifestyle, the restaurant industry grew at a rapid pace.
Excellent growth of the QSR industry is likely to augment the growth of the ice makers market. In addition, with the changing growth parameters of the food retailing sector and the increasing popularity of e-Commerce, the use of ice makers for food preservation is likely to upsurge in the next few years.
Wide Range of Commercial Applications Inducing Demand for Energy-efficient Ice Makers
Owing to the increasing demand for ice in food and beverage applications, demand for ice is likely to remain high among restaurants, bars, cafes, and other types of food chains. The rapid growth of the QSR (quick service restaurant) industry is further widening the range of commercial applications of ice makers, boosting the growth of the ice makers market.
Manufacturers are introducing a variety of ice makers according to the consumer needs associated with the types of ice, such as crushed, nugget, flaked, cubed, and diced ice. According to the food and beverage applications, manufacturers are producing ice makers to meet the exact needs of consumers.
As commercial applications of ice makers outnumber their non-commercial or residential applications, demand for ice makers with high capacities is more. Consumers are critical about their choice of the air compressor and cooling mechanisms of ice makers. Above all, due to the increasing electricity prices and environmental concerns, the energy consumption of ice makers remains the primary factor that influences consumers’ decisions the most.
Manufacturers are adopting technological solutions to optimize the use of electricity in ice makers and offer energy-efficient ice makers to attract a larger consumer base. Apart from producing energy-efficient ice makers, manufacturers in the ice makers market are offering ice maker accessories, such as ice scoops, ice totes, and ice caddies, to stand out in the cutthroat competition in the market.
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Growing Investments in Finding Alternatives for HCFC to be an Emerging Trend in the Ice Maker Market
Hydrochlorofluorocarbons (HCFCs) are among the most extensively used refrigerants in air cooling systems as well as in refrigerating systems. However, HCFC-22 has been added to the list of Ozone-depleting substances by the EPA (the United States Environment Protection Agency). Under Section 609 of the Clean Air Act (CAA), the EPA has imposed some rules to control the release of HCFC-22 through refrigerating systems such as ice makers.
Not just in the United States, but the European Commission has developed some regulations and standards to limit the use and emission of HCFC-22. Both the EPA and European Commission have stated that the production and imports of HCFC-22 will be phased out completely, by 2020. Furthermore, the production, import, and use of HCFC-22 in ice makers will be banned by 2030, which have a huge impact on the development of the ice makers market.
Leading manufacturers in the ice makers market are making investments in their R&D capacities to discover environment-friendly alternatives to HCFCs. EPA allows the use of Ozone-friendly HCFCs and other eco-friendly alternatives of HCFC-22 in ice makers under its Significant New Alternatives Policy (SNAP). Also, increasing environmental awareness among consumers is influencing their purchasing decisions. Subsequently, manufacturers in the ice maker market are making efforts to produce eco-friendly and energy-efficient ice makers to attract more consumers.
This analytical research study imparts an all-inclusive assessment of the market while propounding historical intelligence, actionable insights, and industry-validated & statistically upheld market forecasts. A verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report have been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
- Technology
Regional Segments Analyzed Include
- North America
- U.S.
- Canada
- Latin America
- Mexico
- Brazil
- Western Europe
- Germany
- Italy
- France
- U.K
- Spain
- Eastern Europe
- Poland
- Russia
- Asia Pacific
- China
- India
- ASEAN
- Australia & New Zealand
- Japan
- Middle East and Africa
- GCC
- S. Africa
- N. Africa
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessments by leading industry experts and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. The qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
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Competitive landscape highlights only certain players
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Segmentation of Ice Maker Market Research
-
By Type :
- Freestanding
- Built-In
- Countertop
- Modular
- Under-Counter
-
By Application :
- Residential
- Commercial
- Industrial
-
By Production Capacity :
- Small
- Medium
- Large
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. Type
- 6.2. Application
- 6.3. Production Capacity
- 6.4. Distribution Channel
- 7. Global Market Analysis and Forecast, By Type
- 7.1. Freestanding Ice Makers
- 7.2. Built-in Ice Makers
- 7.3. Countertop Ice Makers
- 7.4. Modular Ice Makers
- 7.5. Under-Counter Ice Makers
- 8. Global Market Analysis and Forecast, By Application
- 8.1. Residential
- 8.2. Commercial
- 8.3. Industrial
- 9. Global Market Analysis and Forecast, By Production Capacity
- 9.1. Small Capacity (Under 50 kg/day)
- 9.2. Medium Capacity (50–200 kg/day)
- 9.3. Large Capacity (Over 200 kg/day)
- 10. Global Market Analysis and Forecast, By Distribution Channel
- 10.1. Online
- 10.2. Offline
- 11. Global Market Analysis and Forecast, By Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Western Europe
- 11.4. Eastern Europe
- 11.5. East Asia
- 11.6. South Asia & Pacific
- 11.7. MEA
- 12. North America Sales Analysis and Forecast, by Key Segments and Countries
- 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 14. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 15. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 16. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 17. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 18. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 19. North America Sales Analysis and Forecast, by Key Segments and Countries
- 20. Sales Forecast by Type, Application, Production Capacity, and Distribution Channel for 30 Countries
- 21. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 22. Company Profile
- 22.1. Hoshizaki Corporation
- 22.2. Scotsman Ice Systems
- 22.3. Manitowoc Ice
- 22.4. Ice-O-Matic
- 22.5. Kold-Draft
- 22.6. Brema Ice Makers
- 22.7. Daihan Scientific Co., Ltd.
- 22.8. Sanden Intercool
- 22.9. Middleby Corporation
- 22.10. Avanti Products
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List Of Table
Table 01: Global Market US$ Mn Forecast by Region
Table 02: Global Market US$ Mn Forecast by Type
Table 03: Global Market US$ Mn Forecast by Application
Table 04: Global Market US$ Mn Forecast by Production Capacity
Table 05: Global Market US$ Mn Forecast by Distribution Channel
Table 06: North America Market US$ Mn Forecast by Country
Table 07: North America Market US$ Mn Forecast by Type
Table 08: North America Market US$ Mn Forecast by Application
Table 09: North America Market US$ Mn Forecast by Production Capacity
Table 10: North America Market US$ Mn Forecast by Distribution Channel
Table 11: Latin America Market US$ Mn Forecast by Country
Table 12: Latin America Market US$ Mn Forecast by Type
Table 13: Latin America Market US$ Mn Forecast by Application
Table 14: Latin America Market US$ Mn Forecast by Production Capacity
Table 15: Latin America Market US$ Mn Forecast by Distribution Channel
Table 16: Western Europe Market US$ Mn Forecast by Country
Table 17: Western Europe Market US$ Mn Forecast by Type
Table 18: Western Europe Market US$ Mn Forecast by Application
Table 19: Western Europe Market US$ Mn Forecast by Production Capacity
Table 20: Western Europe Market US$ Mn Forecast by Distribution Channel
Table 21: Eastern Europe Market US$ Mn Forecast by Country
Table 22: Eastern Europe Market US$ Mn Forecast by Type
Table 23: Eastern Europe Market US$ Mn Forecast by Application
Table 24: Eastern Europe Market US$ Mn Forecast by Production Capacity
Table 25: Eastern Europe Market US$ Mn Forecast by Distribution Channel
Table 26: East Asia Market US$ Mn Forecast by Country
Table 27: East Asia Market US$ Mn Forecast by Type
Table 28: East Asia Market US$ Mn Forecast by Application
Table 29: East Asia Market US$ Mn Forecast by Production Capacity
Table 30: East Asia Market US$ Mn Forecast by Distribution Channel
Table 31: South Asia & Pacific Market US$ Mn Forecast by Country
Table 32: South Asia & Pacific Market US$ Mn Forecast by Type
Table 33: South Asia & Pacific Market US$ Mn Forecast by Application
Table 34: South Asia & Pacific Market US$ Mn Forecast by Production Capacity
Table 35: South Asia & Pacific Market US$ Mn Forecast by Distribution Channel
Table 36: MEA Market US$ Mn Forecast by Country
Table 37: MEA Market US$ Mn Forecast by Type
Table 38: MEA Market US$ Mn Forecast by Application
Table 39: MEA Market US$ Mn Forecast by Production Capacity
Table 40: MEA Market US$ Mn Forecast by Distribution Channel
Table 41: North America Market US$ Mn Forecast by Country
Table 42: North America Market US$ Mn Forecast by Type
Table 43: North America Market US$ Mn Forecast by Application
Table 44: North America Market US$ Mn Forecast by Production Capacity
Table 45: North America Market US$ Mn Forecast by Distribution Channel
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List Of Figures
Figure 01: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 02: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 03: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Production Capacity
Figure 04: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 05: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 06: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 07: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 08: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Production Capacity
Figure 09: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 10: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 13: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Production Capacity
Figure 14: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 15: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 17: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 18: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Production Capacity
Figure 19: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 20: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 22: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 23: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Production Capacity
Figure 24: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 25: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 26: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 27: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 28: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Production Capacity
Figure 29: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 30: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 31: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 32: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 33: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Production Capacity
Figure 34: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 35: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 36: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 37: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 38: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Production Capacity
Figure 39: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 40: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 41: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Type
Figure 42: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 43: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Production Capacity
Figure 44: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Distribution Channel
Figure 45: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the size of the global ice maker market in 2024?
The global ice maker market is estimated to reach US$ 4.04 billion in 2024.
At what CAGR is the ice maker market analyzed to expand during the forecast period?
The global market for ice makers is forecasted to expand at a CAGR of 3.9% during the forecast period.
Which region is the market leader for ice makers?
East Asia is evaluated to capture a noteworthy share of global market revenue, which is further followed by North America.
Ice Maker Market