According to a new report published by Allied Market Research, titled, “Ice Maker Market by Product Type and Application: Opportunity Analysis and Industry Forecast, 2021–2027,” the global ice maker market size was valued at $2,330.6 million in 2019, and is projected to reach $2,784.2 million by 2027, registering a CAGR of 4.4% from 2021 to 2027.
An ice maker which is also known as ice machine or ice generator is an electrical appliance that makes ice artificially. The formulation of innovative and advanced solutions is anticipated intensify the competitive environment among the ice making machine manufacturers. The demand for ice makers is expected to grow due to the high demand from foodservice and food processing sectors. The rising preference for energy-efficient and water-saving product is expected to drive the ice maker market during forecast period.
Buy Now & Get Exclusive Discount on this Report : https://www.alliedmarketresearch.com/checkout-final/5062cb69997377b3c1a207054243fc4f
Development of the food service industry is anticipated to drive the growth of the ice maker market. Moreover, rise in business related travel, surge in urban population, and rise in number of food joints such as hotels and restaurants fuel the growth of the hospitality industry, thereby driving the growth of the market. Change in food habits and busy lifestyle of consumers have led to increase in demand for ready-to-eat meals. Rapid changes in the supporting factors such as disposable income, consumer preferences, increase in working women population, and digitization have resulted into rise in number of quick-service, and other types of restaurants which in turn is driving the sales of the ice maker.
By product type, the countertop ice maker is expected to grow at the highest CAGR during the ice maker market forecast period. This is because countertop ice makers are designed to fit on the top of bar or counter to have staff an easy access to ice while serving to their customers. Additionally, there are a few models of countertop ice makers available in the market for residential use with low ice production rates, that are enough for everyday home use.
By application, others segment which include corporate office and residentials are anticipated to grow at the highest CAGR. Many corporate facilities require ice makers to keep in cafeterias for employees to use which in turn has driven the growth of ice maker market in terms of value sales. Moreover, the rising consumer preference for ice makers such as countertop ice makers is likely to offer immense opportunity for the ice maker market in terms of value sales during the forecast period.
Get Exclusive Sample PDF Of This Report : https://www.alliedmarketresearch.com/request-sample/9432
The global ice maker market segments are categorized into product type, application, and region. By product type, it is classified into modular ice maker, undercounter ice maker, countertop ice maker and ice dispenser. By application, it is divided into food service, food processing, healthcare, retail outlets and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Australia & New Zealand, Japan, ASEAN, Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey and Rest of LAMEA).
The outbreak of COVID-19 has severely hampered the ice maker market growth. Ice maker manufacturers are not able to provide maintenance and installation services to their customers, owing to availability of limited resources and implementation of lockdown. Amidst this health crisis, the workforce availability is limited, which further hampers the overall production of the ice makers. This, in turn, creates challenges for product deliveries, which hampers the growth of the ice maker industry.
𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗙𝗼𝗿 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 : https://www.alliedmarketresearch.com/request-for-customization/9432
Key findings of the study
By product type, the modular ice maker segment accounted for the highest ice maker market share in 2019, growing at a CAGR of 3.3% from 2021 to 2027.
By end use, the food service segment occupied maximum share in the market in 2019 and is expected to dominate the market during the forecast period.
Region wise, North America accounted for highest share in 2019 and is expected to grow at a CAGR of 2.9% during the forecast period.
The key players operating in the ice maker market include Hoshizaki corporation, Manitowoc ice (WELBILT, INC.), A & V Refrigeration Corp, Ali Group S.p.A., Middleby Corporation, Cornelius, Inc., Kold-Draft, North Star Ice Equipment Corporation, Whynter, LLC and U.S. Ice Machine Mfg. Co.
Reasons to Buy this Ice Maker Market Report:
> Mergers and acquisitions should be well-planned by identifying the best manufacturer.
> Sort new clients or possible partners into the demographic you’re looking for.
> Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
> Develop tactical initiatives by gaining a better grasp of the areas in which huge corporations can intervene.
> To increase and grow business potential and reach, develop and plan licencing and licencing strategies by finding possible partners with the most appealing projects.
> Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
> To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free):
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060