According to a new report, published by KBV research, The Global Ice Maker Market size is expected to reach $3.1 billion by 2028, rising at a market growth of 4.7% CAGR during the forecast period.
The Food Service segment is leading the Global Ice Maker Market by Application in 2021 thereby, achieving a market value of $963.8 Million by 2028. As hotels must preserve beverages, food, or alcoholic beverages at cool temperatures, expanding the tourism industry will also increase demand for ice makers in this market segment. In addition, due to sedentary lifestyles and significant disposable income, fast-food businesses have emerged. Along with the rising requirement to store perishable commodities, especially dietary ingredients, these factors push the ice maker market.
The Countertop segment has shown the growth rate of 5.3% during (2022 - 2028). Countertop ice maker create ice faster than ice cube trays, freeing freezer space. In addition, they allow for the production of various ice types. Continuous operation is built into the countertop ice makers. As the ice melts, it dribbles back into the reservoir, where it can be refrozen into new cubes.
The North America market dominated the Global Ice Maker Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.1 billion by 2028. The Europe market is exhibiting a CAGR of 4.2% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 5.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/ice-maker-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of MiddleBy Corporation, Hoshizaki Corporation, Manitowoc, Inc. (Pentair plc), U.S. Ice Machine Manufacturing Co., A & V Refrigeration, Ali Group S.r.l., Cornelius, Inc. (Marmon Foodservice Technologies, Inc.) (Berkshire Hathaway, Inc.), Howe Corporation, North Star Ice Equipment Corporation and Whynter LLC.
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