New York, February, 2023: Axiom Market Research & Consulting™ added a report on the global ice maker market, which includes studies on product type, condensing unit type, application, and geography across various countries of key regions across the globe. The global ice maker market was projected to grow at a CAGR of 5.80% for the forecast period 2023 to 2029. The global market is estimated and forecasted in terms of revenue (USD Million) the ice maker market.     

An icemaker, ice generator, or ice machine may refer to either a consumer device for making ice found inside a home freezer, a stand-alone appliance for making ice, or an industrial machine for making ice on a large scale. The term “ice machine” usually refers to a stand-alone appliance. The basic components of an ice maker include a condenser, an evaporator, a throttle valve, and a compressor. This device is used for making ice in the residential, commercial and industrial sectors. 

The increasingly sedentary lifestyle owing to the growing jobs in the service sector in emerging economies, including China and India, has led to the development and growth of fast-food chain restaurants and bars. Thus, the growing demand for storing predictable food and serving chilled beverages to customers has led to an increasing demand for products from the foodservice industry globally. Furthermore, the factors contributing to the demand for ice makers are the rapidly growing healthcare sector and the good growth of e-commerce industry across the globe.

The report analyses the global Ice maker industry based on type, condensing unit type, application and geography. On the basis of type, the ice maker market includes cube, tube ice, flake ice, and block ice. The condensing units used in ice makers are air-cooled, water-cooled, and remotely cooled. Ice makers find their application in food service, healthcare, the chemical industry, and others. Geographically, the global ice makers market is studied for the following regions: North America, Europe, Asia Pacific, and the Rest of the World (RoW).

The cube ice maker type segment is estimated to dominate the market during the forecast period.

Cube ice maker type segment held a significant share in the ice maker market in 2022. A cube of ice is a small piece of ice. Ice cubes are products of mechanical refrigeration and are usually produced to cool beverages. Cubed ice is generally available in convenience or grocery stores. The cost of cubed or bagged ice is generally pretty cheap, and this may vary based on the size of the bags. Shaved ice machine that use cubed ice are very easy to maintain and they shave ice fairly quickly. A cubed Ice maker machine is an excellent for a residential and commercial application. It can help to prepare a variety of foods, from salads and sandwiches to drinks and beverages. Residential cube ice makers are more in demand now. They are like a kitchen appliance dedicated to making a large amount of ice in the comfort of your own home. It is a simple solution for ice-making in the home. The home ice maker is installed in the kitchen, much like a refrigerator, dishwasher, or range would be – except smaller, of course – and it is always there, automatically taking care of your ice needs. Increasing demand for automatic ice maker machine has led to significant growth in the global cube ice maker market in the forecast period. 

By condensing unit- Segment Analysis

The condensing units used in ice makers are air-cooled, water-cooled, and remote cooled. Air cooled condensing unit segment held a significant share in ice maker market in 2022. The air-cooled condenser is an extremely hot refrigerant vapor that cools and turns back into a high-pressure liquid. An air-cooled ice machine uses a fan internally to cool the unit. It takes in air from the surrounding environment to cool the condenser and other areas of the refrigeration system. Further, a water-cooled ice segment is expected to register the fastest growth. Air-cooled ice makers work best in a clean, temperature-controlled environment. Air cooled ice machine production is dependent on the environment it is in. Air cooled ice machine work best in clean, temperature-controlled environments. When used in hot environments, the already warm air passing over the condenser coils will not remove as much heat as cooler air, thus slowing down the rate at which the machine can produce ice.

By Application - Segment Analysis

Ice maker finds its application in food service, healthcare, the chemical industry and others. The growing food service industry drives the demand for ice maker. The food service segment accounted for the largest share in the ice maker market. The growing hotel and quick service restaurant industries are expected to drive the market. Quick service restaurants and fast-food restaurants have evolved as a major provider of this mass-produced food, which has been attracting an increasing number of people towards experiencing and enjoying their services. Thus, the growing food service industry expected to drive the market. In 2019, the hotel and quick service restaurant industries increased at a rate of 7% globally. In 2016, a survey carried out among Americans aged 18 years and older determined how frequently they eat at quick-service restaurants. 20% of the respondents said they dine out at quick-service restaurants once per week, while 18% stated that they dine out several times per week.

Asia-Pacific dominated ice maker market in 2021 and is expected to witness the fastest growth in upcoming years

Asia Pacific is anticipated to witness increasing demand for Ice maker. The Asia-Pacific ice makers Market is projected to register a CAGR of 6.04% during the forecast period 2023-2029. This region primarily includes countries like China, India and Japan. The Asia Pacific region is expected to witness the fastest growth over the forecast period due to population growth, rapid urbanization, and the increasing purchasing power of a large portion of the population in developing countries, which are some of the major factors driving the expansion of the ice makers' market. According to the report, Asia has the 3rd highest population growth rate of 0.83% for 2020, below Africa and Oceania. Western Asia is the fastest-growing sub region in Asia. Also, 1 July 2021, the population of Asia is projected at almost 4.68 billion or 4,680 million or 4,679,660,580 people. Changing consumer lifestyles, rising disposable incomes, and the need to stockpile perishable products such as groceries are some of the factors that keep the industry moving forward. Large fast-food chains are increasingly using this product, leading to industry’s growth around the world. In addition to that, rising living standards along with the rapid development of restaurant and fast-food service industries in the region are boosting the growth of the ice machine industry.

Key Players: 

The key competitor of the market includes A&V Refrigeration, Patkol, Morris and Associates, Snowkey, Fujian Snowman, CBFI, Focusun, Recom, AB Electrolux, Ali Group, BREMA GROUPS 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, and among others. 

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