Ice Maker Market Trends, Segmented by Product Type, End Use Sector and Region 2023
Industry Overview of Ice Maker Market:
Ice maker, commonly known as an ice machine, may refer to both a stand-alone appliance and industrial machine which produce ice for both residential as well as commercial uses. Depending on the requirement of the consumer, it is available in different sizes, ranging from small to large. Some of the basic components which are used in the production of an ice maker include motor, valves, blades, thermostat, heater terminal, evaporator, condenser, compressor and throttle valve.
How big is the ice maker market?
The global ice maker market size reached US$ 4.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.57% during 2023-2028.
Ice Maker Market Trends and Drivers:
The global ice maker market is observing a positive growth on account of emerging demand from the healthcare industry. This can be accredited to the widening applications of ice in the industry, particularly for storing organs and assisting in rehabilitating procedures. Apart from this, ice maker finds diverse applications in biotechnology, microbiology, biochemistry and genetic engineering laboratories, for storing biological samples and necessitating transportation to other facilities. Moreover, the increasing popularity of cryotherapy (cold therapy) has resulted in the growth of the ice maker market.
Furthermore, the demand for ice makers is proliferating in the fast-food sector due to constant growth in the industry as well as inflating incomes of the consumers. However, high initial investment acts as a major hindrance which is abstaining the growth of the market.
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What Is Included In Market Segmentation?
The report has segmented the market into the following categorie
Breakup by Product Type:
Breakup by End Use Sector:
Breakup by Region:
Who Are The Key Players Operating In The Industry?
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), NewAir, Zhejiang Litian Industrial Co. Ltd., Sunpentown (SPT) Inc., Changshu Lingke Electric Appliance Co. Ltd. and Cornelius, Inc.
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