3 major trends impacting ice making equipment market outlook over 2019-2025
Publisher : Fractovia | Published Date : 2020-01-06Request Sample
Ice making equipment market size is garnering increasing momentum across the globe, owing to the robust demand for the product in various industrial, residential and commercial applications. Considerable increase in the need for household ice-making systems due to high economic affluence across North America and APAC regions is likely to stimulate the industry growth during 2019-2025.
The ice makers, also known as ice generators or ice machines, are the appliances that have incessantly been used for producing ice across both the residential and commercial sectors. The amplifying expansion of high end and boutique bars that lay high focus on the presentation and quality are likely to escalate the demand for these machines over the forecast period.
Various industry conglomerates, such as Howe Corporation, AB Electrolux, Cornelius, to name a few, have initiated the re-development of novel ice makers to cater to the changing needs of the customers. This has brought about a surge in the industry competition, leading to the roll-out of highly advanced ice maker machines in the worldwide market.
As per the research report by Global Market Insights, Inc., ice maker industry size is envisaged to account a revenue share of USD 2.5 billion by the end of 2025. Following are some of the fundamental trends that are estimated to propel ice maker industry outlook over 2019-2025:
Expanding use of nugget ice maker
The rising popularity of presentation drinks, cocktails, and other expensive drinks in bars and high-end rated restaurants has optimized the use of nugget ice makers globally. Nugget ice is commonly used for various cooling purposes and displaying the beverages in bars, malls, grocery stores, and other departmental stores.
The nugget ice makers have gained appreciable traction across the healthcare sector perhaps attributing to the nuggets’ chewable features and easy consumption by the patients.
Alongside, the development of hydrocarbon-defined and technically sound ice machines by several manufacturers is also aiding the market growth.
Growing deployment across the food service sector
The worldwide ice making equipment market is defined by a vast application gamut and has gained an expansive popularity on the accounts of the same.
The commercial segment, led by the food service and healthcare sectors, is expected to depict noteworthy gains in the upcoming years. This growth is ascribed to the elevating demands for ice making machines across hotels, 5-star rated restaurants, hospitals, bars, and umpteen other establishments.
This upsurge in the product demand globally has prompted the manufacturers to lay high emphasis on creating energy-efficient and restaurant centric machines to cater to the burgeoning demands of the consumers. Increasing demand for ice across the food service sector is also spurring the product demand.
Increasing infrastructural developments across Middle East
Various countries and regions across the globe are focusing on refurbishing the existing infrastructure and additionally developing newer establishments to cater to the rising population.
In terms of the geographical landscape, the Middle East region is currently remnant of numerous infrastructural developments including hypermarkets, restaurant chains, and supermarkets. Alongside, the food and beverage sector is also experiencing expansion in the region. This development is enabling the region to emerge out as one of the most lucrative regions for ice market industry.
As per the estimates by International Trade Council, nearly 20 new community shopping malls are under construction in Dubai whose development is expected to conclude anywhere in 2020.
Also, the region is anticipated to host FIFA World Cup 2022 in Qatar and World Expo 2020 in UAE thereby establishing huge growth prospects for the industry leaders.
