Clear Ice Makers Market is estimated to be valued at USD 2,861.1 Billion by 2025, registering a CAGR of 6.27% during the forecast period. The growth of the foodservice industry and increasing use of clear ice makers in households are the major factors driving market growth. Product innovation is expected to create new opportunities for vendors active in the global market. However, the need for high initial investments is restricting the growth of the market.
North America accounted for a dominant share of the global clear ice makers industry in 2018. The regional market is projected to exhibit a CAGR of 6.13% during the review period. The increasing consumption of alcoholic beverages is anticipated to fuel the growth of the clear ice makers market in North America. Also, product launches are a major trend gaining traction in the North American clear ice makers market. The US accounted for 78.70% of the regional market in 2018 and the market is estimated to remain dominant during the forecast period. The European garnered a significant market share in 2018 and is expected to exhibit an above-average growth rate during the forecast period. However, the market in Asia-Pacific is projected to register the highest growth rate of 6.71% during the forecast period. Rapid urbanization and a growing number of restaurants and bars are anticipated to drive the growth of the clear ice makers market in the region.
Market Research Future recognizes Welbilt Inc. (US), Electrolux AB (Sweden), Sunpentown Inc. (US), Hoshizaki Corporation (Japan), Igloo Products Corp. (US), NewAir (US), Himalyanequipment Manufacturing Co. (India), Koller Refrigeration & Equipment (Hong Kong), Cornelius, Inc. (US), Ice-O-Matic (US), Scotsman Ice Machines (US), and Whynter LLC (US) as the key players in the Global Clear Ice Makers industry.
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Geographically, the global clear ice makers industry has been categorized as North America, Europe, Asia-Pacific, and the rest of the world (RoW). As per MRFR analysis, North America dominated the market, accounting for the largest share in 2018. The market in Asia-Pacific is expected to register the highest CAGR of 6.71% during the forecast period. Europe accounted for the second-largest market share in 2018.
Key Findings of the Study
The Global Clear Ice Makers Market is expected to register a growth rate of 27% from 2019 to 2025. The expansion of the food service industry across the globe is a significant factor for the growth of the clear ice makers market at a global level.
The increasing household use of clear ice makers is also projected to drive the growth of the global clear ice makers industry.
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