The ice maker market is projected to gain considerable growth on account of increasing demand for ice-making devices in restaurants and household settings. These devices are experiencing heavy demand from regions like the Asia Pacific and North America owing to increase in household disposable income.
Growing prevalence of high-end boutique bars that emphasize on overall experience, quality, and presentation could boost the demand for unique ice-making devices that make gourmet, large and square ice cubes. Shifting consumer outlook towards the use of ice is influencing several ice machine manufacturers to develop new models and series of machines that deliver ice in multiple sizes and shapes.
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Additionally, the product development trend has augmented the industry scenario, giving rise to heavy industry competition in turn encouraging the development of new, technically advanced ice machines. Emergence of modern kitchens and homes that have built-in bars have propelled the demand for ice maker machines across the residential sector.
Industry players are focusing on using more natural refrigerants like carbon and propane to meet all the residential as well as environmental norms. Adoption of eco-friendly hydrocarbon refrigerant allows firms to provide customers a machine that has low global warming potential (GWP) and zero ozone depletion potential (ODP). This could reduce operating costs and improve energy efficiency in the long run.
As of now, ice maker market companies like Cornelius Inc., Howe Corporation, Hoshizaki Corporation, Ali Group S.p.A, Middleby Corporation, Manitowoc Ice, Brema Group S.p.A., North Star Ice Equipment Corporation, and AB Electrolux are pioneering the business landscape with their innovative, advanced products.
A study conducted by Global Market Insights, Inc., estimates that the ice maker market could touch USD 2.5 billion by the year 2025.
In terms of commercial application, the ice maker industry is segmented into healthcare and food service. The commercial sector is experiencing growth at a rapid pace due to surging adoption of ice-making machines in hotels, restaurants, hospitals, bars, and pharma companies. This has compelled major ice machine companies to develop restaurant-specific, energy-efficient machines that successfully cater to the diverse demands of several customers.
Proliferating demand for ice across the food service industry in different sizes and shapes could play a vital role in advancing the development of new ice maker machines. Manufacturers are investing heavily in various R&D activities to satisfy the evolving demands of food processing, transportation, and service sectors.
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On the regional front, the MEA ice maker market is projected to witness immense traction on account of increasing number of infrastructure development activities like construction of new hypermarkets, restaurant chains, and supermarkets. According to the International Trade Council’s data, Dubai currently has 20 new community shopping mall projects under construction, which are likely to be completed by 2020.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Definition and forecast parameters
188.8.131.52 Methodology and forecast parameters
1.2 Data Sources
Chapter 2 Ice Maker Market Summary
2.1 Ice maker industry 3600 synopsis, 2015 - 2025
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Application trends
Chapter 3 Ice Maker Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015 - 2025
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.4 Technological and innovation landscape
3.5 Regulatory Landscape
3.5.1 International Standards
184.108.40.206 ISO 9001:2015
3.5.2 North America
220.127.116.11 ENERGY STAR Program
18.104.22.168 EU F-Gas Regulations
22.214.171.124 EU Energy Directive
3.5.4 Asia Pacific
126.96.36.199 SB/T 10941-2012 Automatic Ice Machine Test Method
188.8.131.52 AS/NZS 4865.1:2008
3.5.5 Latin America
184.108.40.206 BRAZILIAN HCFC PHASE-OUT MANAGEMENT PLAN
220.127.116.11 The Regulation of energy efficiency label (Saudi Arabia)
3.7 Industry impact forces
3.7.1 Growth Drivers
18.104.22.168 Rapidly developing food & beverage industry across the globe
22.214.171.124 The rising demand for ice makers in the healthcare industry
126.96.36.199 Growing demand for household ice making systems due to the rise in disposable income in North America
188.8.131.52 Proliferation of hospitality industry in Europe and MEA
184.108.40.206 Growing demand for flake ice makers from the transportation industry of Europe
220.127.116.11 Flourishing e-commerce industry in Asia Pacific & Latin America
3.8 Industry pitfalls & challenges
18.104.22.168 Consumer preference for household refrigerators over specialized ice making machines
22.214.171.124 High initial investment
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 Competitive landscape
3.11.1 Company market share analysis
3.11.2 Strategy dashboard
3.12 PESTEL analysis
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