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Ice Maker Market Size

  • Report ID: GMI4419
  • Published Date: Sep 2023
  • Report Format: PDF

Ice Maker Market Size

Ice Maker Market size was valued at USD 2.2 billion in 2022 and is slated to register a CAGR of over 6% between 2023 and 2032. The positive outlook for the food & beverage industry globally is driving the demand for ice maker due to the increased demand for ice across various sectors. The expanding tourism and hospitality industries are further boosting ice maker sales. Moreover, the trend of craft cocktails and the need for ice in healthcare settings & tourism contribute to market growth.

 

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An ice maker is a specialized appliance designed to produce ice cubes or nuggets in a convenient & automated manner. It is typically integrated into refrigerators or available as standalone machines. The ice maker trays are first filled with water, which is then frozen; the formed ice is transferred into a storage bin. Ice makers offer a steady supply of ice, thereby catering to various needs including cooling beverages, preserving food, and serving in commercial establishments such as restaurants and bars. Ice makers c can be under-counter, countertop, or portable, thereby providing flexibility for use in both residential & commercial applications.

 

The high initial investments in an ice maker can be a significant pitfall or challenge for individuals or businesses. These machines, particularly the commercial or industrial-grade models, can be expensive to purchase & install. Such a high upfront cost can strain budgets, especially for smaller enterprises or startups. Additionally, it may deter homeowners who are on the lookout for adding this convenience to their kitchens. Maintenance & energy expenses can further compound the overall cost of ownership. Despite the hurdle of an initial investment, many businesses and households ultimately find the convenience and long-term savings in ice production to be a worthwhile investment.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of Ice maker was worth USD 2.2 billion in 2022 and may register over 6% CAGR between 2023 and 2032, due to significant advances in the food & beverage sector worldwide.

The ice cubes product segment crossed USD 1.5 billion in 2022 and will register lucrative growth rate by 2032, owing to their higher usage in both commercial & residential settings for cooling beverages and preserving food.

The commercial application segment recorded over 70% share of the ice maker market in 2022 on account of rising demand in hospitality to serve drinks, and keep food fresh.

North America ice maker industry size surpassed USD 850 million in 2022, attributed to the higher consumer demand and changing lifestyles in the region.

Ice Maker Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 11
  • Tables & Figures: 216
  • Countries covered: 21
  • Pages: 200
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