The global commercial ice equipment and supplies market is projected to reach a value of US$ 7.9 billion by 2023. With the integration of IoT and AI technologies, this market is poised for a significant expansion, with a forecasted CAGR of 5.5% from 2023 to 2033, reaching approximately US$ 13.6 billion by 2033.
As awareness of environmental impact grows among companies and individuals, there is a rising demand for energy-efficient and eco-friendly products, including ice machines. End-users seek ice machines that not only reduce energy consumption and costs but also minimize their carbon footprint.
Another factor driving the growth of the Commercial Ice Equipment and Supplies market is the rising demand for customized ice machines. With the growing competition in the foodservice industry, many businesses are looking for unique ways to stand out from their competitors. This has led to a rising demand for customized ice machines that can produce different types of ice shapes and sizes to match the specific needs and preferences of each business.
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Key Takeaways from the Market Study
- Global Commercial Ice Equipment and Supplies Market was valued at US$ 7.5 billion by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 2.7%
- North America is expected to hold the highest CAGR of 5.3% during the forecast period.
- By Installation, the under counter machine segment is expected to constitute a CAGR of 5.4%
- By distribution channel, online retail stores dominate the market, growing at a 5.3% CAGR
Growth Factors
Modular and under-counter ice machines are gaining traction among end-users due to their compact design and simple installation process. These machines are crafted to fit snugly under countertops or in tight spaces, making them an ideal choice for small-scale enterprises and eateries facing spatial constraints. Their portability and easy installation are particularly advantageous for businesses requiring mobility or limited setup options.
Furthermore, the versatility of modular and under-counter ice machines offers a tailored approach to ice production. Users can select from various ice head and bin sizes, and effortlessly add additional units as per their specific requirements. This modular design not only enhances flexibility but also streamlines equipment maintenance, as individual components can be swiftly replaced or serviced.
With water quality emerging as a paramount concern across industries, the demand for ice machines equipped with built-in water filtration systems is on the rise. These integrated systems effectively eliminate impurities and contaminants from the water supply, resulting in superior-tasting and high-quality ice. Moreover, they contribute to prolonging the lifespan of the ice machine by mitigating the accumulation of mineral deposits and scale buildup.
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Key Companies
- Manitowoc
- Follett
- Bluestar
- Whirlpool
- Scotsman
- Summit
- Whynter
- Howe Corp.
- Ice-O-Matic
- Danfoss AS
- HOSHIZAKI Corp.
Recent Developments:
- In February 2021, Welbilt Inc. announced the launch of their new Crem Freezer, which is designed to create premium ice cream, gelato, and sorbet.
- In December 2020, Manitowoc Foodservice announced the launch of their new Indigo NXT series of ice machines, which are designed to be more energy-efficient and environmentally friendly.
- In July 2020, Scotsman Ice Systems announced the launch of their new Prodigy Plus line of ice machines, which are designed to be more energy-efficient and easier to clean.