Global Ice Maker Market(2021 to 2026) Trend, Opportunity And Challenge.

An ice maker, also known as an ice generator or ice machine, is an appliance that is used for producing ice in both the residential and commercial sectors. It is manufactured using various components, which include motors, compressors, condensers, evaporators, throttle valves and heating elements. Among these, the compressor compresses the low-pressure vapor to high-pressure vapor and directs it to the condenser. The condenser helps in condensing the high-pressure vapor into the high-pressure liquid, which is then drained out through the throttle valve. The liquid is then sent towards the evaporator wherein heat exchange takes place and results in the formation of ice.

Ice Maker Market Landscape

In 2020, the global ice maker market reached a value of US$ 4.8 billion and will be expected to exhibit moderate growth during the next five years.

The ice maker market can be segmented based on type, end-user, and geography. 

Main types of ice makers available in the market include ice block maker, ice tube maker, ice flake maker, ice cube maker and ice plate maker.The ice cube maker segment held dominant share of the global ice maker market, as ice cubes are extensively used in the food and service industry.

 In terms of end-user, the ice maker market can be segmented as follows:food and services, health care, residential, grocery stores and retail outlets.The food and services segment accounted for the major share of the market in 2015. This trend is expected to continue during the forecast period. The number of eateries, bistros, and restaurants along with cafés and bars is increasing significantly. These require ice in various forms such as cubes or flakes for their daily operations, which include storage of food and food ingredients and serving outdoor food. These establishments prefer an in-house ice manufacturing facility. This is fueling the growth of the overall ice maker market. 

Market Share

The ice maker market is on the rise.The market can be segmented as follows:

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

On the geographical front, North America represents the largest market. On assessing the import and export scenario of the market, it is found that the United States represents the largest importer of ice makers, whereas China is the biggest exporter.These trends have proved to be fertile ground for the development of the ice maker market. There is a great opportunity for the ice maker market to expand.

Competitive Landscape

Main players of 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.

Cornelius, Inc.

Companies operating in the ice maker industry are making large investments in R&D activities to innovate new technologies that will aid to reduce the overall electricity and water consumption of products. Additionally, players are also introducing new products that comply with energy regulations of regional governments to enhance the overall energy efficiency of the system. 

Challenge Confronted by Ice Maker Market

As the worldwide covid-19 pandemic has caused a serious impact on the world economy and trade activities, the impact on the ice-making industry is mainly reflected in foreign trade exports. Due to the epidemic, foreign demand has plummeted, and various countries have strengthened controls for cross-border commerce, and restricted population activities, which has hindered trade logistics. It has not been clear that when the epidemic will disappear. But only one sure thing is that global commerce suffers greatly. Every company is struggling to keep the loss low in the current landscape.