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Global Ice Maker Market to reach USD 2.26 billion by 2027

Global Ice Maker Market Size study, by Product (Ice Cube, Ice Flake, Ice Nugget), by Application (Residential, commercial) and Regional Forecasts 2020-2027

Product Code: OIRIGAS_74080514
Publish Date: 15-11-2020
Page: 200

Global Ice Maker Market is valued at approximately USD 1.42 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2020-2027. An ice maker, also referred to as an ice generator or ice machine, is an appliance that is used both in the residential and commercial sectors to generate ice. Different parts, including generators, compressors, condensers, evaporators, throttle valves and heating elements, are used to produce it. The fast-moving travel industry is promoting the growth of the regional hotel and restaurant sector due to the increasing demand for ice cream makers as they are used in different dining locations in resorts and hotels. This consideration can therefore strengthen the consumer acceptance of Ice Maker around the globe. For instance, according to Statista forecast, Travel and tourism, with a combined contribution of over USD 247 billion to the country’s GDP in 2018, is one of India’s largest industries. By 2029, this is projected to cross over U.S.D 500 billion. Moreover, the growth of fast-food chains has resulted in a sedentary lifestyle and a high disposable income. Together with the increased need to store perishable goods, mainly food and food ingredients, these factors are driving the demand for ice maker and are the few factors responsible for the CAGR of the market during the forecast period. However, it takes expertise as well as considerable investment to set up an effective ice maker for a particular company is one of the factors that restraining the market growth over the forecast period of 2020-2027.

The regional analysis of the global Ice Maker market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the availability of a large number of restaurants and the rise in people’s outdoor eating habits, in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027, owing to the food service industry’s rapid growth.

Major market player included in this report are:
Hoshizaki Corporation
The Manitowoc Company, Inc.
Scotsman Industries, Inc.
Whynter LLC
Ice-O-Matic (Mile High Equipment LLC)
Himalyan Equipment Manufacturing Co. (HEMCO)
MaxxIce (The Legacy Companies)
Zhejiang Litian Industrial Co. Ltd.
Sunpentown (SPT) Inc.
Changshu Lingke Electric Appliance Co. Ltd.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Ice Cube
Ice Flake
Ice Nugget

By Application:

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Ice Maker market Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Ice Maker Market, by Region, 2018-2027 (USD Billion)
1.2.2. Ice Maker Market, by Product, 2018-2027 (USD Billion)
1.2.3. Ice Maker Market, by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Ice Maker Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Ice Maker Market Dynamics
3.1. Ice Maker Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Ice Maker Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Ice Maker Market, by Product
5.1. Market Snapshot
5.2. Global Ice Maker Market by Product, Performance – Potential Analysis
5.3. Global Ice Maker Market Estimates & Forecasts by Product 2017-2027 (USD Billion)
5.4. Ice Maker Market, Sub Segment Analysis
5.4.1. Ice Cube
5.4.2. Ice Flake
5.4.3. Ice Nugget
Chapter 6. Global Ice Maker Market, by Application
6.1. Market Snapshot
6.2. Global Ice Maker Market by Application, Performance – Potential Analysis
6.3. Global Ice Maker Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
6.4. Ice Maker Market, Sub Segment Analysis
6.4.1. Residential
6.4.2. Commercial
Chapter 7. Global Ice Maker Market, Regional Analysis
7.1. Ice Maker Market, Regional Market Snapshot
7.2. North America Ice Maker Market
7.2.1. U.S. Ice Maker Market Product breakdown estimates & forecasts, 2017-2027 Application breakdown estimates & forecasts, 2017-2027
7.2.2. Canada Ice Maker Market
7.3. Europe Ice Maker Market Snapshot
7.3.1. U.K. Ice Maker Market
7.3.2. Germany Ice Maker Market
7.3.3. France Ice Maker Market
7.3.4. Spain Ice Maker Market
7.3.5. Italy Ice Maker Market
7.3.6. Rest of Europe Ice Maker Market
7.4. Asia-Pacific Ice Maker Market Snapshot
7.4.1. China Ice Maker Market
7.4.2. India Ice Maker Market
7.4.3. Japan Ice Maker Market
7.4.4. Australia Ice Maker Market
7.4.5. South Korea Ice Maker Market
7.4.6. Rest of Asia Pacific Ice Maker Market
7.5. Latin America Ice Maker Market Snapshot
7.5.1. Brazil Ice Maker Market
7.5.2. Mexico Ice Maker Market
7.6. Rest of The World Ice Maker Market
Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. Hoshizaki Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.2.2. The Manitowoc Company, Inc.
8.2.3. Scotsman Industries, Inc.
8.2.4. Whynter LLC
8.2.5. Ice-O-Matic (Mile High Equipment LLC)
8.2.6. Himalyan Equipment Manufacturing Co. (HEMCO)
8.2.7. MaxxIce (The Legacy Companies)
8.2.8. Zhejiang Litian Industrial Co. Ltd.
8.2.9. Sunpentown (SPT) Inc.
8.2.10. Changshu Lingke Electric Appliance Co. Ltd.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

Primary Research Sources:

  • Interview conducted with raw material suppliers & manufacturers.
  • Interview conducted with manufacturers, suppliers & distributors, researchers, & representatives of regulatory bodies.
  • Interview conducted with market players, industry experts, & independent consultants.
  • Secondary Research Sources:
  • Purchased Database: D&B Hoovers, Bloomberg, Inc., Business Information Industry Association, NAICS Association.
  • Internal Database: White papers, Certified Publications, Articles by Recognized Authors and Regulatory Bodies.
  • Government Databases: Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), World Health Organization (WHO), Food and Drug Administration (FDA), International Telecommunication Union (ITU), United States Department of Agriculture (USDA), International organization of Motor Vehicle Manufacturers (OICA).

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