With Market Size Valued at $2.3 Billion by 2026, it`s a Healthy Outlook for the Global Ice Makers Market

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Sep 17, 2021, 11:40 ET

SAN FRANCISCO, Sept. 17, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Ice Makers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 7; Released: April 2021
Executive Pool: 1173
Companies: 40 - Players covered include Changshu Lingke Electric Appliance Co. Ltd.; Cornelius, Inc.; Himalyan Equipment Manufacturing Co. (HEMCO); Hoshizaki Corporation; Ice-O-Matic (Mile High Equipment LLC); MaxxIce (The Legacy Companies); NewAir; Scotsman Industries, Inc.; Sunpentown (SPT) Inc.; The Manitowoc Company, Inc.; Whynter LLC; Zhejiang Litian Industrial Co. Ltd.; and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Ice Cube, Ice Flake, Ice Nugget); Application (Commercial, Residential, Food Service, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Ice Makers Market to Reach $2.3 Billion by 2026
Amid the COVID-19 crisis, the global market for Ice Makers estimated at US$1.6 Billion in the year 2020, is projected to reach a revised size of US$2.3 Billion by 2026, growing at a CAGR of 5.7% over the analysis period. Ice Cube, one of the segments analyzed in the report, is projected to record a 5.9% CAGR and reach US$1.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ice Flake segment is readjusted to a revised 5.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $453.6 Million in 2021, While China is Forecast to Reach $480.5 Million by 2026
The Ice Makers market in the U.S. is estimated at US$453.6 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$480.5 Million by the year 2026 trailing a CAGR of 9.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.

Ice Nugget Segment to Reach US$242.1 Million by the year 2026
In the global Ice Nugget segment, USA, Canada, Japan, China and Europe will drive the 5.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$133.2 Million in the year 2020 will reach a projected size of US$188.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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