Commercial Ice Maker Machine Market size to increase by USD 1.63 billion during 2022-2027, North America to Occupy 35% Market Share, Technavio

NEW YORK, Feb. 22, 2024 /PRNewswire/ — The commercial ice maker machine market size is expected to grow by USD 1.63 billion between 2022 and 2027. However, the growth momentum will progress at a CAGR of 7.04% during the forecast period. North America is projected to contribute 35% to growth by 2027. Analysts at Technavio detail regional trends, drivers, and challenges. Factors like a strong economy, advanced technology adoption, and high demand from sectors such as food services and healthcare propel growth. The thriving food and beverage industry, including restaurants and hotels, requires substantial ice quantities, met efficiently by commercial ice-making machines. Leading players like Manitowoc, Scotsman Ice Systems, and Hoshizaki continuously innovate, offering high-quality, performance-driven machines with features like automatic cleaning and energy efficiency. These dynamics are poised to fuel market growth in North America. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample 

The market is segmented by end-user (foodservices, retail, healthcare, and others), product type (cube ice maker, flake ice maker, and nugget ice maker), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

Rise in demand from various industries

The growing demand is a result of the boom in the food and beverage industry. Restaurants, bars, and catering companies rely heavily on ice for their day-to-day operations, whereas the hospitality industry is also a main driver for the raised demand for commercial ice-making machines. Hence, such factors drive the growth during the forecast period. 

Key Highlights:

The report recognizes the following as some of the key players: Ali Group Srl, AV Refrigeration, Bionics Scientific Technologies Pvt. Ltd., BREMA GROUP S.p.A., BUUS Refrigeration AS, Direct Catering Products Ltd., Electrolux AB, Focusun Refrigeration Corp., Fujian Snowman Co. Ltd., Grant Ice Systems, HOSHIZAKI Corp., Howe Corp., Iberna Ice Machine Co. Ltd., Marmon Holdings Inc., North Star Ice Equipment Corp., Pentair Plc, PT ROYAL SUTAN AGUNG, Shanghai Chuangli Refrigeration Equipment Co. Ltd., The Middleby Corp., and U.S. Ice Machine Mfg Co.Fragmented in nature.Market to observe 6.55% YOY growth in 2023.

A growing preference for customized ice maker machines is an emerging trend. The rising cost of raw materials challenges the growth. The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report

Keg Segments

The foodservices segment is significant during the forecast period. Ice makers provide a continuous supply of ice for a variety of purposes including chilling drinks, preserving fresh produce, and creating attractive food displays, which makes it an integral part of the food service industry. Thus, the industry relies heavily on ice maker machines to meet customer demands and keep business running smoothly. Furthermore, hospitals and medical facilities require ice maker machines to store and transport pharmaceuticals, blood, and tissue samples. Hence, such factors drive the growth of the foodservices segment during the forecast period.  Get a glance at the contribution of the segments, Request a Sample

Analyst Review

In the bustling landscape of food service establishments and hospitality industry, the industry thrives. With energy efficiency and sustainability becoming paramount, industries seek innovative solutions to meet demands while minimizing environmental impact. Historic data reveals a steady growth trajectory, with researchers projecting exponential expansion by the estimated year. Key drivers like the rising demand from restaurants, bars, and catering companies fuel this surge, while trends towards eco-friendly appliances shape the scenario. However, challenges persist, including regulatory hurdles and cost constraints. As the food and beverage industry evolves, hotels, resorts, and event venues increasingly rely on advanced ice maker technology, making the future promising yet complex.

In the healthcare sector, medical facilities such as hospitals and clinics prioritize patient care, which relies heavily on efficient equipment maintenance. With the demand for vaccines and drugs escalating in the global sector, the forecast period sees a surge in customized ice maker machines. Their rising popularity stems from their uniqueness, individuality in design, and superior function. These machines boast digital displays and touch controls for user convenience, along with integrated water filters ensuring purity. In hospitals and clinics, where every detail matters, these advanced ice makers offer indispensable support. As the healthcare industry continues to evolve, these machines stand as essential tools, seamlessly integrating into the patient care environment.

In the industry, businesses face a significant challenge in balancing long-term cost savings with raw material costs and energy efficiency. Stainless steel and aluminum are common materials used in these machines, impacting both durability and cost. However, supply chain disruptions and trade restrictions can lead to fluctuations in raw material costs and exchange rate volatility, affecting budget planning. Additionally, water waste is a concern, prompting the need for efficient refrigeration parts and supply chain management to minimize environmental impact. Despite these challenges, businesses can mitigate risks through strategic planning and investing in energy-efficient technologies. Adapting to dynamics and navigating trade restrictions is crucial for long-term success in this industry. Request a Sample

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The reusable icepacks market size is expected to reach an estimated USD 8.77 billion by 2026 at an accelerating CAGR of 8.06%. This research report extensively covers segmentation by product, application, and geography. The increasing demand for packaged food and beverages is notably driving the growth.

ToC:

Executive SummaryLandscapeSizingHistoric SizeFive Forces AnalysisSegmentationsCustomer LandscapeGeographic LandscapeDrivers, Challenges, and TrendsVendor LandscapeVendor AnalysisAppendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.

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SOURCE Technavio