Ice Maker Market | Regional Growth Forecast 2020-2025
Category: #headlines  By Rahul Varpe  Date: 2020-05-14
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Ice Maker Market | Regional Growth Forecast 2020-2025

Amplifying focus on quality and presentation of beverages in high-end bars will improve the growth of ice maker market share. Boutique bars demand for various ice making machines for gourmet, square, and large ice cubes. Increasing disposable incomes have gushed the advent of modern kitchens and homes with built-in bars. People are opting to prepare cocktails and expensive drinks in their own built-in bars, which will boost demand for ice makers in residential applications. Also, companies are rolling out advanced machines, which will enhance competition in ice maker industry. Ice Maker Market share was valued at USD 1.5 billion in the year 2018 and is projected to surpass a revenue of USD 2.5 billion by the year 2025.

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Ice maker industry is gaining profits from commercial segments, such as food service and healthcare. Demand for ice makers is surging in hotels, restaurants, hospitals, bars, pharma companies, etc. Growing demand for ice makers is pushing major ice machine manufacturers to develop energy-efficient and restaurant-specific machines. Rapid development and  adoption of ice machines will show a positive impact on ice maker market outlook.

Nugget ice maker industry  is likely to exhibit robust growth due to the rising popularity of expensive drinks, and cocktails served in high-end bars, and restaurants, which has increased the usage of nugget ice maker globally. Nugget ice finds application in various cooling purposes, majorly in beverage displaying in shopping malls, bars, grocery stores, and departmental stores.

Ice maker market is witnessing innovations of new products owing to the escalating demand for ice of different shapes and sizes in food service sector. Manufacturers are outlaying heavy investments in R&D activities to cater to the spiraling demand from food processing, service, and transportation sectors.

Industry Growth Drivers - 

  1. Rapidly developing food & beverage industry across the globe
  2. The rising demand for ice makers in the healthcare industry
  3. Growing demand for household ice making systems due to the rise in disposable income in North America
  4. Proliferation of hospitality industry in Europe and MEA
  5. Growing demand for flake ice makers from the transportation industry of Europe
  6. Flourishing e-commerce industry in Asia Pacific & Latin America

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Middle East ice maker market size is expanding with  development of regional infrastructures, such as restaurant chains, supermarkets, and hypermarkets. There is a huge demand for fast food and beverages in the region, which has amplified ice maker industry share. According to the International Trade Council, in Dubai, around 20 new community shopping malls are under construction and are likely to be operational by 2020.

Also, the UAE will host World Expo 2020 and Qatar will hold FIFA World Cup 2022, which will upsurge travel and tourism in the region. Organization of such events in the Middle East will offer lucrative growth prospects to ice marker industry players.

Market participants are focusing on the use of natural refrigerants, including carbon or propane to decrease harmful impact on the environment. Also, they are aiming to develop advanced hydrocarbon-based machines. Some of the key players present in ice maker market are Cornelius, Inc., Howe Corporation, Ali Group S.p.A., Manitowoc Ice, Hoshizaki Corporation, Middleby Corporation, Brema Group S.p.A., North Star Ice Equipment Corporation, and AB Electrolux.

 

 

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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