Global Ice Maker Market - 2022-2029

Global Ice Maker Market - 2022-2029

Market Overview

The global ice maker market size was worth US$ XX million in 2021 and is estimated to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of XX% within the forecast period (2022-2029).

An icemaker, ice generator, or ice machine is a device used for making ice, found inside a home freezer, an industrial machine for making ice on a large scale or a stand-alone appliance for making ice. It is manufactured using various components, including condensers, motors, compressors, evaporators, throttle valves and heating elements.

For instance, the compressor converts low-pressure vapor to high-pressure vapor and sends it to the condenser by cold compression. The condenser aids in the conversion of high-pressure vapor to high-pressure liquid, which is subsequently drained via the throttle valve. The liquid is subsequently directed to the evaporator, where heat exchange occurs, resulting in the creation of ice.

Modular ice makers, under-counter ice makers, countertop ice makers and ice dispensers are the four types of ice producers available on the market. The food service business, the food processing industry, the healthcare industry, retail stores and other industries all employ this equipment. The growth of the hospitality industry is driving the need for ice makers in commercial kitchens.

Furthermore, the foodservice industry's expansion and rising demand for chilled alcoholic and non-alcoholic beverages propel the ice maker market's value sales growth.

Market Dynamics

The increased demand for ice in the healthcare sector for storing organs and aiding rehabilitation procedures boosts the ice maker market. Furthermore, improving demand for ice makers in microbiology, biochemistry, biotechnology and genetic engineering laboratories for various applications is boosting the market share for the product

The increased demand for ice in the healthcare sector for storing organs and aiding rehabilitation procedures boosts the ice maker market.

Ice is essential for several industries and the healthcare industry is among the growing industries for ice maker applications. Ice is used in various applications in healthcare, such as hydration, swelling treatment, physical therapy and others. Organ storage is one of the major applications of ice makers and generators for storing various organs for a longer period.

Organ transplantation was one of the most major medical breakthroughs in the second half of the twentieth century. It is still the only effective treatment for end-stage organ failure in many patients. Providing high-quality and effective organs has always been a critical element in the whole multidisciplinary approach to transplantation and this was recognized early on in service development.

Modern transplant services have been made possible by employing the tremendous effects of chilling to delay biological degradation in organs separated from their typical physiological environment. Low temperatures, on the other hand, have a variety of effects (both beneficial and harmful) on mammalian cell biology that have necessitated extensive research to allow us to use cold during organ preservation and this has been the history of the development of techniques that are now in use worldwide.

The first line of defense against hypoxia damage is cooling. Thus, cooling is required to minimize cellular metabolism and oxygen consumption to avoid tissue harm. Thus, cooling is required to preserve the organ for a longer period, which is achieved by ice makers or ice machines.

Furthermore, in U.S., there are now 121,678 patients waiting for life-saving organ transplants. A total of 100,791 people are waiting for kidney transplants. (as of November 11, 2016). The average wait period for a first kidney transplant is 3.6 years, but this might vary based on the patient's health, compatibility and organ availability. Thus the mentioned statistics have created immense demand for ice makers in the organ preservation application and are expected to increase in the forecast period due to increasing health-related issues globally.

Improving demand for ice makers in microbiology, biochemistry, biotechnology and genetic engineering laboratories for various applications boosts the product's market share.

Ice makers play a vital role in various biochemistry, biotechnology and other medical research laboratories to store biological samples and assist in transporting these samples to other facilities.

An ice bath is required in several experiments and reactions in one or more steps. Ice producers in laboratories are a practical technique to ensure that ice is available when needed. In microbiology labs and for PCR, a laboratory ice maker can be handy. There are laboratory ice producers that produce ice but must be stored in a separate ice bin and ice makers that produce and store ice.

Furthermore, the outbreak of COVID-19 has created immense demand for ice makers to fight the COVID-19 pandemic. The key players introduce various ice makers to store vaccines that require complicated cold supply chains and refrigerated storage. Thus improving cases of COVID-19 has escalated the demand for ice makers in various microbiological facilities coupled with vaccination centers for storing the vaccine for a longer period.

The rising popularity of cryotherapy across the globe is expected to create opportunities for ice makers in the future market.

The simplest and oldest method of treating injuries is cryotherapy, often known as ice treatment. Because of its effectiveness, convenience, low cost and ease of shipping, have become widely used worldwide. Ice is thought to relieve pain by inducing a local anesthetic. Oedema, nerve conduction velocities, cellular metabolism and local blood flow, are all reduced. The effect of cryotherapy is determined by the procedure, duration, ice temperature and subcutaneous fat depth.

Cold therapy is a tried-and-true form of pain management, especially for patients who have been wounded, strained a muscle, or are recovering from surgery. This treatment is part of the RICE (Rest, Ice, Compression and Elevation) healing strategy, popular worldwide. An ice pack with an elastic bandage is one of the most common cold treatment methods.

Technology has made it easier to administer cold therapy when needed. Water is circulated through an ice reservoir in cold therapy equipment. The reservoir is connected to a wrap that offers compression, which may aid in the reduction of swelling. The patient gets the combined benefits of a therapeutic cold and targeted pressure to heal with a cold therapy unit.

Thus, the increased prevalence of sports injuries, cardiac disorders, malignancies and technological improvements in cryotherapy technology are driving the cryotherapy industry and creating immense opportunities for the ice maker market to grow in the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic has hampered the expansion of the ice maker market. The viral outbreak hampered the meatpacking industry's operations, causing a drop in ice demand. Due to movement restrictions and widespread quarantines, the market revenue was further impacted by a steep fall in the hospitality and restaurant industries.

However, the hospital industry has shown positive demand growth for ice makers during the COVID-19 period, predominantly for storing vaccines and Polymerase chain reaction (PCR) tests samples, enzymes and reagents. Thus improving vaccination drive in regions like Asia-Pacific has generated the demand for ice makers and is expected to increase in the forecast period.

Furthermore, the market will likely recover steadily in the post-pandemic age, with restaurants and lounges gradually reopening.

Segment Analysis

The global ice maker market can be segmented on type, product, material, size, application and region.

Cube ice is growing at the fastest rate in the global ice maker market due to the increasing demand for ice cubes from the healthcare sector.

The global ice maker market based on product is segmented into cube ice, nugget ice, gourmet ice, crescent ice and flake ice. Out of the mentioned cube, ice dominates the market due to the rising usage of differently shaped cubes in the residential and commercial sectors. Furthermore, using gourmet ice cubes in hotels, restaurants, businesses, households and universities for non-alcoholic and alcoholic beverages impacts market statistics. In contrast to tube ice machines, flake ice machines and other ice machines, cube ice machines are characterized as compact ice machines.

The most common capacities are 30 kilogramme (66 lb) and 1,755 kg (3,869 lb). Since their introduction in the 1970s, cube ice machines have grown into a wide family of ice makers. Vertical modular systems are typically seen as cube ice machines. The evaporator is on top, while the ice bin is on the bottom. The refrigerant runs through the pipes of a self-contained evaporator, where it conducts the heat exchange with water and converts water into ice cubes by freezing. The water is automatically discharged and falls into the ice bin once completely frozen into ice.

Furthermore, cube ice has shown a dominating position in the healthcare sector in preventing healing and preventing acne, helping relieve swelling by reducing blood flow to the injured area. In addition, Since many individuals have trouble swallowing liquids, ice is a convenient way to stay hydrated. To consume little amounts of water at a time, patients can chew or have ice cubes melt in their mouths. Patients can stay hydrated without needing to drink from a cup or glass if they do this throughout the day.

Geographical Analysis

The rising travel and tourist business in Europe has a significant impact on the regional hospitality industry's development trends, creating market opportunities for the ice marker market.

The European ice maker market has shown significant numbers in 2020. The rising travel and tourist business significantly impacts the regional hospitality industry's development trends. According to market data from United Nations World Tourism Organization (UNWTO), international visitor arrivals in Europe increased by 4% in 2019 compared to 2018.

The ice-producing machine market is being driven by the constantly rising travel and tourism industry, driving the construction of regional restaurants and hotels. Restaurants and cafes use ice machines to serve clients during peak hours efficiently.

The European industry is thriving because of the desire for adaptable ice cube machines to dispense ice cubes in various shapes and sizes. Furthermore, increased alcoholic beverage consumption in countries such as Germany and France will boost the market for commercial equipment.

Competitive Landscape

The ice maker market is highly competitive with the presence of local and global companies. Some prime companies contributing to the market's growth are BREMA GROUP S.p.a., HOSHIZAKI CORPORATION, AB Electrolux, Ali Group S.r.l., General Electric, The Manitowoc Company, Inc., Danby, FOLLETT PRODUCTS, LLC., Fujian Snowman Co., Ltd., Howe Corporation, ITV Ice Makers Inc. KitchenAid and others.

The major companies are adopting several growth strategies such as acquisitions, product launches and collaborations, contributing to the market growth of ice makers globally.

For instance, In 2021, At the NAFEM Show, foodservice equipment and supplies event. A new Delta, a solid and crystalline gourmet cube with a more modern truncated conical form, was unveiled at the show.

The Manitowoc Company, Inc

Overview: The Manitowoc Company, Inc., founded in 1902, designs, manufactures, markets and supports mobile telescopic cranes, lattice-boom crawler cranes, tower cranes and boom trucks under the National Crane, Potain, Grove Manitowoc, Shuttlelift and Manitowoc Crane Care brand names through wholly-owned subsidiaries. The company offers its products and services in various parts of the globe, including North America, Europe, India, China, Asia-Pacific, Middle East, Africa, South America, Europe and Russia

Product Portfolio

Indigo NXT: The product is one of the most efficient cube ice machines currently available. Many new models use the ecologically beneficial R410A refrigerant, which has a 48% lower global warming potential than prior versions. All models are AHRI approved and meet or exceed the DOE's (Department of Energy) 2018 energy use minimums. Many models are ENERGY STAR 3.0 approved, making them eligible for local energy company rebates. The Indigo NXT is up to 43% more energy efficient than previous versions, cutting the total cost of ownership significantly.

Key Development

In 2019, Manitowoc, the industry's top commercial ice machine manufacturer, unveiled a new 1 Ton (2,000 lbs.) nugget ice machine. The company built the new nugget ice machine to increase client demand for a machine with better daily product possibilities. The machine makes high-quality ice and offers convenient lump-free serving options. The product allowed the company to deliver a high-volume ice machine to its consumers.

Why Purchase the Report?

Visualize the ice maker market segmentation by type, product, material, size, application and region, highlighting key commercial assets and players.

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The global ice maker market report would provide approximately 77 market data tables, 79 figures and 270 pages.

Target Audience 2022

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