Global Residential Portable Ice Maker Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Residential Portable Ice Maker Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Residential Portable Ice Maker market finds that the global Residential Portable Ice Maker market reached a value of USD 936.92 million in 2022. It’s expected that the market will achieve USD 1372.0 million by 2028, exhibiting a CAGR of 6.56% during the forecast period.

The COVID-19 outbreak has had an impact in many areas, such as flight cancellations; travel bans and quarantine; restaurant closures; all indoor/outdoor activities are restricted; more than forty countries have declared a state of emergency; the supply chain has slowed significantly; Stock market volatility; decline in business confidence, public panic and uncertainty about the future.

First of all, the sales of marketing channels will be affected differently. The COVID-19 epidemic has reduced offline passenger flow, and the advantages of e-commerce companies have become increasingly prominent. During the epidemic prevention and control period, some Ice Maker companies encountered great resistance in their business.

In addition, the interaction between upstream and downstream will cause business interruption. The epidemic will have a short-term impact on the Ice Maker industry, but it is relatively limited. The transportation of raw materials and products is restricted, resulting in an increase in product inventory and a decline in equipment operating rates. Due to the impact of the epidemic, the production and transportation of raw materials are difficult to achieve, and upstream companies have affected the work progress of downstream companies. Equipment manufacturing and product manufacturing companies in the Ice Maker industry are affected to varying degrees, and production and delivery may be delayed to a certain extent. At the same time, failure to meet the customer's delivery time requirements in accordance with the contract may cause the customer to find another company and lose business.

In addition, the outbreak of the COVID-19 virus has affected the normal operations of the industry. The impact of COVID-19 on the Ice Maker industry will involve all major links and all entities in the industry chain. The company’s management efficiency has declined, commuting has been severely hampered, production plans have been severely hampered, network expansion has been delayed, marketing has been delayed, brand adjustment has been forced, market sales have fallen, and company and employee income has fallen.

Continuous improvement of residents' living standards

With the development of the economy, people’s disposable income has continued to increase, and their living standards have also continued to improve. Residents have begun to have the habit of eating ice. Especially in large cities with relatively developed economies, household consumption has begun to increase. Make the market become active. More and more families tend to make some heat-reducing drinks or food at home, and the demand for ice cubes of different shapes has increased. Therefore, the demand for home use of ice machines is also rising.

The demand for iced beverages drives the use of ice maker The ice maker can be used to mass produce fresh ice cubes and produce ice cubes for many types. Regardless of whether the weather is hot or not, people's preference for iced beverages has only increased, and the demand for ice makers has also increased. Ice maker can bring long-term value to users, making it easier and more convenient to produce ice cubes of different shapes at home.

Household refrigerators can produce a certain substitute for ice machines

Although the main function of the refrigerator is to store food, the ice maker mainly makes ice. However, since household refrigerators can also produce ice cubes, this limits the adoption of these machines in residential applications and hinders the growth of the ice maker market.

Increased industry competition

With the gradual changes in people's consumption habits, the family's demand for ice machines will gradually increase, and the market still has great growth potential. With the continuous advancement of technology and the continuous expansion of market demand, competition in the ice machine industry has intensified. There are companies with core technology, strong design and R&D capabilities, and independent brands in the industry, as well as companies with low technical levels and strong sales capabilities. As market participants increase, market prices are gradually decreasing.

Region Overview:

In global comparison, a significant portion of the revenue was generated in North America (41.39% in 2022).

Company Overview:

NewAir is one of the major players operating in the Residential Portable Ice Maker market, holding a share of 2.08% in 2023.

NewAir

NewAir Appliances is a family-owned manufacturer and distributor of luxury compact home appliances, including everything from beverage coolers to portable laundry solutions.

Euhomy

Euhomy Appliances makes life better by designing and building the appliances.

Segmentation Overview:

By type, Nugget Ice Makers segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Online segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Residential Portable Ice Maker market covered in Chapter 3:

NewAir
Danby
Vremi
Magic Chef
Frigidaire
Euhomy
GE
SPT
Igloo
Whynter
Dreamiracle
IKICH

In Chapter 4 and Chapter 14.2, on the basis of types, the Residential Portable Ice Maker market from 2018 to 2029 is primarily split into:

Cubed Ice Makers
Nugget Ice Makers
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Residential Portable Ice Maker market from 2018 to 2029 covers:

Online
Offline

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)