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Report Overview
The global ice maker market value reached around USD 5.52 Billion in 2023. The thriving food and beverage industry significantly contributes to demand, particularly in restaurants, cafes, and bars that require a consistent supply of ice for beverages. Major chains like McDonald's and Starbucks rely heavily on commercial ice makers to meet customer needs for cold drinks and iced coffees. Additionally, the healthcare sector's increasing requirement for ice in applications such as cold therapy and transporting medical supplies further boosts market growth. As a result, the industry is expected to grow at a CAGR of 5.90% during the forecast period of 2024-2032 to attain a value of USD 9.25 Billion by 2032. Innovations such as smart ice makers from brands like Whirlpool, which offer app connectivity for monitoring ice production, are attracting tech-savvy consumers, leading to further growth in the market.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- In Kenya, the hospitality sector is rapidly expanding due to a surge in tourism and business travel. Hotels such as the Sankara Nairobi are upgrading their facilities with modern ice machines to meet guests' demands for chilled beverages. This trend reflects a broader movement within the hospitality industry to enhance guest experiences through improved amenities. As hotels and restaurants invest in high-quality ice makers, the market is expected to benefit significantly.
- In the United States, the restaurant industry is anticipated to reach USD 1 trillion in sales by 2024, which will greatly increase the demand for ice makers. The food service sector, including restaurants, bars, and cafes, is a major consumer of ice-making equipment. As dining out becomes more prevalent and consumers seek refreshing beverages, the need for reliable ice production will drive growth in this ice maker market segment. The food service industry's expansion is expected to significantly contribute to overall market growth, as establishments require efficient solutions for ice production to enhance their service offerings.
- In terms of exports and imports, the United States stands as the largest importer of ice makers, while China is recognised as the biggest exporter. This dynamic indicates a strong global supply chain for ice-making equipment, with China capitalising on its manufacturing capabilities to meet international demand. The trade relationships between these two countries are crucial for maintaining supply levels in various markets, particularly as demand for both residential and commercial ice makers continues to rise.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global ice maker market, covering their competitive landscape, capacity, and latest developments like mergers and acquisitions, investments, capacity expansion, and plant turnarounds. Companies are focusing on sustainability by investing in research and development to create energy-efficient models that comply with environmental regulations. This includes exploring eco-friendly alternatives to traditional refrigerants. The growth of the food and beverage sector, further drives the demand for ice maker manufacturers across residential, commercial, and industrial sectors.
Key Industry Players
Hoshizaki America, Inc.
Hoshizaki America, Inc. is a prominent manufacturer specialising in ice machines and refrigeration products. The company is recognised for its commitment to quality and innovation, producing a wide range of commercial ice makers, dispensers, refrigerators, and related products.
Scotsman Ice Systems
Scotsman Ice Systems is one of the largest manufacturers of ice-making machines globally, known for pioneering the development of affordable and reliable ice machines since the 1950s. The company introduced nugget ice to the market and has since expanded its product line to include over 300 models of ice machines and dispensers.
Manitowoc Ice
Manitowoc Ice is a division of The Manitowoc Company, which was founded in 1902. The Manitowoc Ice division produces high-quality ice machines designed for foodservice applications and is known for its reliability and performance.
Other major players in the market are Newair and Cornelius, Inc., among others.
Ice Maker Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 5.52 Billion.
The ice maker market is assessed to grow at a CAGR of 5.90% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 9.25 Billion by 2032.
The major drivers of the market are the thriving healthcare sector, changing consumer lifestyles, and the rising focus to store perishable products such as food for a longer period of time.
The key trends guiding the growth of the market includes the rising product development activities by key players and rising disposable incomes.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant product types considered in the market are ice cube maker, ice flake maker, and ice nugget maker, among others.
The major end uses in ice maker are food service, retail, healthcare, and residential, among others.
The major players in the global ice maker market are Hoshizaki America, Inc., Scotsman Ice Systems, Manitowoc Ice, Newair, and Cornelius, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124