The multi-brand store is expected to hold the largest share and account for 45% of the market value in 2033. Snooker, Snowsman, Brema Ice Makers, Whirpool, and Scotsman, are some prominent air cooled cube ice machine manufacturers
/EIN News/ — NEWARK, Del, April 24, 2023 (GLOBE NEWSWIRE) — According to Future Market Insights (FMI), the global air cooled cube ice machine market is forecast to grow by 8% between 2023 and 2033, reaching US$ 3.63 billion by 2033, estimates FMI. There was significant growth in sales between 2018 and 2022, growing at a CAGR of 5%.
Ice machines with air cooling are most commonly found under counters or built-in ice makers. Due to their energy-efficient properties and cost-effectiveness, air-cooled cube ice machines are expected to remain in high demand.
Stringent government regulations are also contributing to the market’s growth. For instance, the ENERGY STAR program was launched by the US Environmental Protection Agency to certify energy-efficient appliances based on the amount of energy they consume. An ENERGY STAR certificate is awarded to a significant number of air-cooled ice machines, which effectively means that the machines consume less energy than their less energy-efficient counterparts.
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Clean and temperature-controlled environments are the best environments for air-cooled ice machines. Due to this, air-cooled cube ice machines are becoming increasingly popular on the market. In order to combat the heat, companies are spending more on cooling equipment, which has led to a shift in spending patterns in the market. This leads to purchasing more specialized ice cube machines, air coolers, and other cooling devices.
Increased innovation and research are also responsible for developing highly sophisticated and affordable air-cooled ice cube machines. Changing consumer preferences and rising disposable income drive demand for innovative air-cooled cube ice machine components in the market.
Globally, research activity and technological developments have led to the production of inexpensive and innovative air-cooled cube ice machines. Additionally, demand for air-cooled cube ice machines is growing for floor-standing and under-counter machines.
As the market for air-cooled cube ice machines has grown in recent years, service companies in the market offering ice machine subscription programs have also grown in demand. Additionally, several governments are adopting these solutions to meet the growing demand for easy-to-use products.
Key Takeaways from the Market Study
- The global market size of air-cooled cube ice machines was valued at US$ 1.6 million in 2022.
- The air-cooled cube ice machine s industry in the United States is anticipated to exhibit a market share of 18% through 2023.
- According to forecasts, China will hold a CAGR of 4% share of the global air-cooled cube ice machine market by 2023.
- India’s air-cooled cube ice machine market is expected to grow rapidly over the forecast period, at a CAGR of 5.3%.
- According to estimates, the multi-brand store will be the dominant player in 2033 with 45% of market value.
“Energy savings and demand for innovative ice cube machines will boost demand for air-cooled cube ice machines in food & beverage sectors in years.” comments a Future Market Insights analyst.
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Competitive Landscape
Air-cooled cube ice machine companies often acquire new companies through mergers and acquisitions. Markets with the fastest growth are attracting both new and existing investors and businesses. In addition to expanding into new regions, mergers & acquisitions are usually triggered by new opportunities.
In order to expand their business, purchasing new companies in new areas is a great way to extend their brand. Financial flexibility and a disciplined approach are essential components of a company’s long-term strategy for acquiring new businesses.
- Pentair Plc. announced in July 2022 that it had completed its previously announced acquisition of Manitowoc Ice from Welbilt, Inc. for $1.6 billion, pending customary adjustments. Ice makers manufactured by Manitowoc Ice are among the best on the market.
- The Manitowoc Ice company provides Pentair with a complementary global commercial footprint that expands the company’s global commercial footprint. With 800 employees and an installed base of about 1 million units, Pentair offers end-to-end water filtration and ice solutions to food service customers.
Key Companies Profiled
Snooker, Snowsman, Brema Ice Makers, Whirpool, Scotsman, IMI Cornelius, Manitowoc, Howe Corp., Ice-O-Matic, Danfoss AS, Follett.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global air-cooled cube ice machine market, presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of installation type (floor-standing machine, under-the-counter machine, counter machine), equipment type (ice-making head, remote condensing unit, self-contained unit), component type (compressor (reciprocating compressor, scroll compressor), condenser, expansion device (thermal expansion valves, electronic valves, capillary tubes), Evaporator, a heat exchanger (liquid line, suction line) and by distribution channel (offline stores(multi-brand store, independent store, hypermarkets/supermarkets, speciality store) online retail stores) and regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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Key Segments Profiled in the Air Cooled Cube Ice Machine Market Industry Survey
By Installation Type (Floor standing Machine, Under counter Machine, Countertop Machine)
By Equipment Type (Ice Making Head, Remote Condensing Unit, Self Contained Unit)
By Component Type (Compressor, Reciprocating Compressor, Scroll Compressor, Condenser, Expansion Device, Thermal Expansion Valves, Electronic Valves, Capillary Tubes, Evaporator, Heat Exchanger, Liquid line, Suction line)
By Distribution Channel (Offline Stores, Multi Brand Stores, Independent Stores, Hypermarkets/ Supermarkets, Specialty Stores, Online Retail Stores)
By Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa)
Report Scope
| Report Attribute | Details |
| Market Value in 2023 | US$ 1.6 billion |
| Market Value in 2033 | US$ 3.63 billion |
| Growth Rate | CAGR of 8% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2022 to 2033 |
| Quantitative Units | Revenue in US$ billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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Table of Content
- Executive Summary | Air Cooled Cube Ice Machines Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and Their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
- Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
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The process automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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Originally published at https://www.einpresswire.com/article/629858089/increasing-popularity-of-air-cooled-cube-ice-machines-market-growth-projected-to-expand-at-8-cagr-and-reach-us-3-63-billion-by-2033-future-market
