Ice maker, also known as ice machine or ice generator, refers to an industrial and consumer device which produces ice. It is made of various components which include an evaporator, compressor, condenser and throttle valve. An ice maker comes in various sizes ranging from small to big as per the requirement of the consumers. In the current scenario, they are being increasingly used all over the world across different sectors. According to the latest report by IMARC Group, titled “Ice Maker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global ice maker market reached a value of US$ 4.35 Billion in 2018.
The global ice maker market is being primarily driven by the rising need for ice makers in numerous microbiology, genetic engineering, biochemistry and biotechnology laboratories for storing biological samples. In addition to this, the growing need for ice makers in cold compression therapies is further propelling the growth of the market. Moreover, there is a rise in fast food chains owing to sedentary lifestyles and an increase in disposable incomes which has resulted in an augmented demand for ice makers. Looking forward, the market value is projected to reach US$ 6.16 Billion by 2024, expanding at a CAGR of around 6% during 2019-2024.
This report provides a deep insight into the global ice maker market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the ice maker industry in any manner.
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