Ice Maker Market Report 2024 (Global Edition)

Global Ice Maker Market Report 2024 Market Size Split by Type (Modular/Ice Machine Head, Under Counter Ice Machines, Countertop Ice Dispenser/Makers, Combination Ice/Water Machines, Others), by Produc...

Ice Maker Market Report Description

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Ice Maker Market Insights Video

Competitive Landscape of the Ice Maker Market

The competitive panorama of the ice maker marketplace is characterized with the aid of the presence of worldwide and nearby gamers, imparting an extensive variety of merchandise. Key marketplace individuals awareness of innovation, incorporating capabilities together with power efficiency, fast ice production, and smart connectivity to gain an aggressive area. Major manufacturers like Scotsman, Hoshizaki, and Manitowoc dominate the economic segment, at the same time as newer entrants' goal area of interest markets with compact and lower-priced models. Strategic partnerships, product diversification, and technological advancements are significant to competition.

In January 2023, The Hoshizaki H200 Ice Maker, a portable and energy-efficient ice maker perfect for homes and small companies, has been introduced by Hoshizaki Corporation. (Source: https://www.hoshizaki.co.jp/en/ir/press/20230202/) In February 2023, the new Scotsman Evolution Ice Maker from Scotsman Ice Systems, which has a sleek new look and enhanced ice producing capabilities, was unveiled. (Source: https://www.scotsman-ice.com/press-release/34) In March 2022: A formal agreement has been signed by Welbilt, Inc. to sell its Manitowoc Ice business to Pentair plc for an estimated cash price of USD 1.6 billion, subject to customary post-closing adjustments. Manitowoc Ice designs, produces, and markets an entire range of ice makers. The firm was able to maintain a low debt-to-equity ratio, reduce debt, and prevent insolvency thanks to this divestment. Source: https://www.welbilt.com/News/News/2022/April/Welbilt-Announces-the-Sale-of-Manitowoc-Ice

Top Companies Market Share in Ice Maker Industry: (In no particular order of Rank)

• Manitowoc Ice - USA
• Hoshizaki Corporation -USA
• Scotsman Ice Systems - USA
• Follett Corporation - USA
• Ice-O-Matic - USA
• Cornelius
• Inc. - USA
• Electrolux Professional - Sweden
• Brema Ice Makers - Italy
• Polar Ice - Singapore
• ITV Ice Makers
• S.L. - Spain
• Howe Corporation - USA
• Marvel Refrigeration - USA
• KOLD-DRAFT - USA
• MAJA-Maschinenfabrik - Germany
• Ziegra Eismaschinen GmbH - Germany
• ITV Ice Makers
• Inc. - USA
• Howe Ice Company - USA
• North Star Ice Equipment Corporation - USA
• ICE Group - Italy
• ITV Ice Makers
• Inc. - USA
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Ice Maker Market

Which Region Dominates the Ice Maker Market in 2024?

According to Cognitive Market Research, North America currently dominates the Ice Makers market, and the region is expected to have significant growth during the projected period. The North American ice maker market is experiencing a robust increase because of growing demand from the hospitality, food service, and healthcare sectors. Increasing purchaser desire for comfort appliances, alongside advancements in power-green and compact fashions, is using this fashion. Additionally, growing disposable earnings and the enlargement of commercial spaces are in addition boosting the marketplace's expansion in the place.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The Asia-Pacific ice maker market is increasing swiftly, driven by means of rising urbanization, increasing disposable earnings, and developing calls from the food service and hospitality sectors. Rapid monetary increases and a burgeoning center magnificence are fueling the need for advanced and handy home equipment. Additionally, technological innovations and enhancements in infrastructure are in addition accelerating the marketplace boom inside the vicinity.

The current report Scope analyzes Ice Maker Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Ice Maker

• Growing Demand for Convenience
• Increasing Disposable Income
• Expanding Commercial Applications

Europe Ice Maker

• Growing Smart Ice Makers
• Increase in demand of Countertop Models

Asia Pacific Ice Maker

According to Cognitive Market Research, the global Ice Maker market size was estimated at USD 2715.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 624.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

• According to Cognitive Market Research, the China Ice Maker market size was valued at USD 281.02 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Ice Maker surged in China due to Increased focus of the energy efficiency demand.
• The Japan Ice Maker market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 86.18 million in 2024.
• The India Ice Maker market had a market share of USD 74.94 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. India's urbanization.
• The South Korean Ice Maker market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 62.45 million in 2024.
• The Australian Ice Maker market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 32.47 million in 2024.
• The South East Asia Ice Maker market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 43.09 million in 2024.
• The Rest of Asia Pacific Ice Maker market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 44.34 million in 2024.

South America Ice Maker

According to Cognitive Market Research, the global Ice Maker market size was estimated at USD 2715.2 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 135.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Ice Maker market size was valued at USD 58.11 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. Ice Makers flourished in Brazil due to healthcare needs.
• Argentina's Ice Maker market had a market share of USD 22.81 million in 2024 and is projected to grow at a CAGR of 4.8% during the forecast period. Argentina's retail expansion .
• Colombia Ice Maker market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 12.08 million in 2024.
• Peru Ice Maker market is projected to witness growth at a CAGR of 4.1% during the forecast period, with a market size of USD 11.13 million in 2024.
• Chile Ice Maker market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 9.77 million in 2024.
• The Rest of Latin America's Ice Maker market is projected to witness growth at a CAGR of 3.0% during the forecast period, with a market size of USD 21.86 million in 2024.

Middle East and Africa Ice Maker

According to Cognitive Market Research, the global Ice Maker market size was estimated at USD 2715.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 54.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031..

• The GCC Countries Ice Maker market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 423.24 million in 2024. Ice Maker sales flourish due to the home appliance demand.
• The Egypt Ice Maker market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 5.70 million in 2024.
• The South Africa Ice Maker market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 8.58 million in 2024. Ice Maker sales flourished in South Africa due to sustainability concerns.
• The Turkey Ice Maker market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 4.67 million in 2024.
• The Nigeria Ice Maker market is projected to witness growth at a CAGR of 3.3% during the forecast period, with a market size of USD 5.70 million in 2024.
• The Rest of the MEA Ice Maker market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 6.41 million in 2024.

Ice Maker Market Analysis

Ice Maker Market Type Segment Analysis

According to Cognitive Market Research, Modular/Ice Machine Head are likely to dominate the Ice Maker Market over the forecast period. The modular ice machine head section is witnessing huge growth inside the ice maker market. These gadgets, which separate the ice-making components from the storage bin, offer flexibility and scalability for commercial programs. Their potential to supply huge volumes of ice efficaciously and adapt to numerous garage solutions is driving elevated adoption in restaurants, hotels, and massive-scale food service operations.

The Under Counter Ice Machines is the fastest-growing segment in the Ice Maker Market. Under-counter ice machines are gaining traction in the ice maker marketplace due to their space-saving layout and comfort for residential and small industrial use. Their compact length lets them fit seamlessly below countertops, making them ideal for kitchens, bars, and cafes. Increased calls for home equipment and compact, green solutions are fueling their marketplace boom.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Ice Maker Industry. Request a Free Sample PDF!

Ice Maker Market Product Type Segment Analysis

According to Cognitive Market Research, the Cube Ice segment holds the largest share of the market. Cube ice is experiencing developing recognition within the ice maker marketplace, driven by way of its versatility and choice in both residential and industrial settings. Its uniform shape and slow melting price make it perfect for liquids, improving consumer pleasure in eating places and bars. Increased client demand for high-quality ice for various packages is contributing to the growth of this section.

In the Ice Maker Market, the Nugget Ice has been expanding at a rapid pace. Nugget ice is unexpectedly increasing in the ice maker market due to its chewable texture and superior cooling efficiency. Popular in healthcare, restaurants, and houses, nugget ice is desired for its ability to sit back liquids fast while being smooth to bite. The developing trend for customized and extraordinary ice options is driving the multiplied calls for nugget ice machines.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Ice Maker Condensing Units Type Segment Analysis

Ice Maker Market Condensing Units Type Segment Analysis

According to Cognitive Market Research, the air-cooled ice makes segment holds the largest market share. The air-cooled ice maker section is developing due to its efficiency and lower set up charges as compared to water-cooled systems. Air-cooled gadgets use ambient air to use up warmness, making them appropriate for plenty of environments with ok airflow. Their increasing adoption in industrial settings and home areas, coupled with improvements in the era, is riding the marketplace's growth.

In the Ice Maker market, the rapidly growing sector is the water-cooled ice. The water-cooled ice maker segment is developing because of its superior performance in environments with high ambient temperatures. These systems use water to use up the heat, ensuring consistent performance and great ice. Their expanded adoption in commercial kitchens, where excessive ice manufacturing is wanted, and advancements in water conservation technology are riding the boom of this marketplace phase.

• Air Cooled
• Water Cooled
• Remote Cooled
• Others

Ice Maker Material Segment Analysis

Ice Maker Market Size Segment Analysis

According to Cognitive Market Research, the 7-10 OZ. CUP segment dominates the market. The 7-10 oz. The cup ice maker section is increasing due to its comfort for private and small-scale commercial use. This length is ideal for residential kitchens, places of work, and small cafes, supplying a balance between ice production ability and space efficiency. Increasing demand for compact, user-friendly appliances is using the boom of this section in the market.

11-16 OZ.CUP is projected to be the fastest-growing segment in the Ice Maker market. The 11-16 ounces. The cup ice maker section is experiencing growth as it caters to both residential and commercial desires. This size variety presents a higher ice output appropriate for medium-scale settings like small restaurants and offices. Its capacity to deliver an extensive amount of ice even while retaining compactness appeals to customers looking for efficiency and comfort, driving marketplace growth.

• Material
• Metal
• Plastic
• Rubber
• Fibreglass
• Others

Ice Maker Application Segment Analysis

Ice Maker Market Material Segment Analysis

According to Cognitive Market Research, the Metal segment dominates the market. The steel ice maker phase is growing because of its sturdiness, performance, and premium appeal. Metal creation, especially chrome steel, gives improved longevity and a sleek design that fits both residential and commercial environments. Its resistance to corrosion and simplicity of upkeep are driving its growing adoption in excessive-use settings, contributing to the section's market increase.

Plastic is projected to be the fastest-growing segment in the Ice Maker market. The plastic ice maker segment is growing because of its affordability, lightweight layout, and versatility. Plastic ice makers are famous for residential use and smaller business settings, imparting a price-powerful solution without compromising capability. Their ease of cleaning and style of designs cater to numerous customer desires, riding the phase's expansion within the ice maker marketplace

• Residential
• Commercial
• Industrial
• Others

Ice Maker End User Segment Analysis

Ice Maker Market Application Segment Analysis

According to Cognitive Market Research, the Residential segment dominates the market. The residential ice maker marketplace is growing as extra purchasers are searching for convenient, remarkable appliances for domestic use. Increased interest in domestic enjoyment and kitchen improvements is using a call for compact, efficient ice makers. These gadgets provide features like smooth installation and consumer-friendly controls, making them popular for households trying to decorate their beverage enjoy and each day convenience.

Commercial is projected to be the fastest-growing segment in the Ice Maker market. The commercial ice maker market is increasing because of growing demand from eating places, lodges, and healthcare facilities for high-capacity, reliable ice production. Advances in technology, which include power-green models and progressed ice exceptional, are driving a boom. The need for steady and big volumes of ice in excessive-visitors environments is fueling the adoption of industrial ice makers.

• Food Services
• Healthcare

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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