Key players include Hoshizaki Corporation, Scotsman Ice Systems, Manitowoc Company, Newair, and Cornelius, Inc., among others. The global ice maker market size was nearly USD 4.6 billion in 2020. The industry is further expected to grow at a CAGR of 6.2% over the forecast period of 2022-2027.
An ice maker, also known as an ice machine or ice generator, is a device that produces ice. Condenser, evaporator, throttle valve, and compressor are the essential components of an ice maker. The function of the compressor is to cold compress low-pressure vapour to high-pressure refrigerant vapour and transport it to the condenser. The high-pressure steam is then condensed in the condenser into a high-pressure liquid. After condensation, the high-pressure fluid is drained out through the throttle valve in low-pressure liquid. The liquid is then directed toward the evaporator. Heat exchanging occurs at the evaporator, thereby creating ice.
A sedentary lifestyle and high disposable income have resulted in the development of fast-food chains. These factors, coupled with the increased need to store perishable items, primarily food and food ingredients, are driving the ice maker market. The health-care industry has been propelled by the increase in life expectancy thereby boosting the growth of the global market. The need for organ and tissue transplantation is also responsible for the growth of the global ice maker market.
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The huge initial investment is a challenge facing the global ice maker market. Setting up an appropriate ice maker for a specific business requires expertise and significant investment. However, there is an increased intake of beverages, which require ice. Therefore, the overall ice maker market has been expanding across the globe. Additionally, the growth of fast-food chains worldwide and the expansion of the health care industry are likely to offer ample opportunities to the ice maker market.
Headquarters: Toyoake, Japan
HOSHIZAKI is the world leader in designing, manufacturing, and marketing a wide range of products for the foodservice industry, including ice machines, refrigerators, freezers, prep tables, display cases, and dispensers. Hoshizaki has been awarded the ENERGY STAR® Partner of the Year - Sustained Excellence multiple years in a row for their continued leadership in protecting our environment through superior energy efficiency achievements.
Headquarters: Chicago, United States
Scotsman Ice Systems - As one of the world's largest manufacturers of ice systems, with more than 300 models of ice machines, storage bins, and ice and water dispensers, Scotsman is dedicated to developing today's most innovative ice solutions. In 2013 and 2012, Scotsman earned the ENERGY STAR® Partner of the Year Award, and in 2011, Scotsman was the recipient of the Award for Excellence in Energy-Efficient Product Design by ENERGY STAR®. Offering more than 35 ENERGY STAR® qualified models, Scotsman Prodigy® ice machines incorporate superior designs which reduce energy and water consumption, making a difference for the environment and the bottom line.
Headquarters: Milwaukee, Wisconsin, United States
Manitowoc is a standalone cranes business, creating market leading lifting solutions and manufacturing a range of innovative products and unparalleled product support services. Whether lifting solutions require crawler, boom, telescoping, or tower cranes, Manitowoc’s ingenuity will be there to Build Something Real for its customers, investors, employees, and partners.
Headquarters: Cypress, CA, United States
California-based NewAir Appliances is a family-owned manufacturer and distributor of luxury compact home appliances, including everything from beverage coolers to portable laundry solutions. The largest retailers in North America carry their wide range of products, and NewAir is dedicated to exceptional customer service at their responsive in-house call centre. NewAir's focus on value and quality over the past 15 years makes them one of the most trusted names in home appliances.
Establishment: Glendale Heights, Illinois, United States
Cornelius is the world's leading supplier of beverage dispensing and cooling equipment. The company manufactures and market a broad line of beverage dispense solutions for soft drinks, ice, juice, tea, and frozen and a complete line of accessories. With over 80 years of experience in the beverage dispensing industry, Cornelius has the expertise to be your total solutions provider.
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