Ice Maker Market

Global Ice Maker Market by Product Types, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

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Global ice maker market was valued at USD 1.5 billion in 2019 and is expected to reach USD 2.5 billion by 2026, expanding at a CAGR of around 6% during the forecast period, 2020–2026. An ice maker is also known as ice machine or ice generator which is a device helpful in the production of ice. With condenser, evaporator, compressor, and throttle valve being the basic components.

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Market Drivers, Restraints, Opportunities, and Trends: ● Surging demand from the food & beverages industry and rapid developments of ice makers in the healthcare industry are the driving factors propelling the growth of the market. ● Proliferating hospital industry in emerging economies of Europe & Middle east Africa coupled with growing demand of household ice making systems have resulted in a rise in the disposable income of the regions. ● However, high initial investment and consumer’s preference for household refrigerators over ice making machines are the restraining factors which are hindering the growth of the market. ● Flourishing e-Commerce industry and increasing demand for flake ice makers from transportation industry are set to provide lucrative opportunity to the market of ice makers.

Enquiry Before Buying@ https://dataintelo.com/enquiry-before-buying/?reportId=110010 Competitive Landscape: Major companies in the global ice maker market include A & V Refrigeration Corp, AB Electrolux, Ali Group S.p.A, Brema Group S.p.A, Cornelius Inc, Direct Catering Products Ltd, Hoshizaki Corporation, Howe Corporation, ITV Ice Makers Inc, KoldDraft, Manitowoc Ice (Welbilt), Middleby Corporation, North Star Ice Equipment Corporation, and Whynter LLC. The market is mostly fragmented due to the availability of large number of competitors. Large investments are being made in the R & D activities which would aid in energy-efficient and application-specific product launches.

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