Technavio, a tech-focused market research firm, has published a new report on the global commercial ice maker machine market, which is expected to grow at a CAGR of more than 8% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global commercial ice maker machine market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global commercial ice maker machine market into the following key regions: The Americas, APAC, Europe, and MEA.
Geographical segmentation of the global commercial ice maker machine market for 2015 (market share %)
|
Americas |
36.98% |
|
Europe |
29.43% |
|
APAC |
29.37% |
|
MEA |
4.22% |
Source: Technavio
The Americas: largest revenue generating region for commercial ice maker machines
The global commercial ice maker machine market in the Americas generated revenues of around $1 billion in 2015 and will post a CAGR of more than 7% by 2020. The US is the largest market in North America for commercial ice maker machines. The presence of a strong food retail and foodservice sector drives the demand for these products in this region. The vendors in the region are focusing on equipment upgrades as the users are concentrating on reducing their carbon footprint and save energy. The requirement safe storage of various produces requires large quantities of ice which in turn, will fuel the growth of the market in this region.
“The rapid growth in the travel and tourism industry will promote the growth prospects for the commercial ice maker machine market in the Americas. The rising number of tourist activities will increase the demand for these systems in the hospitality industry. Also, the massive surge in construction projects for new hotels will have a positive impact on the market in this region,” says Abhay Sinha, a lead analyst at Technavio.
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Commercial ice maker machine market in Europe
The global commercial ice maker machine market in Europe generate revenues of more than $1 billion in 2015 and will post a CAGR of around 7% by 2020. The increasing number of people dining out and purchasing frozen food items, will lead to the growth of the market in the European region. The food services sector generates the highest demand for technologically advanced ice models. Germany, Italy, France, and the UK will emerge as the key revenue generators in the European market over the predicted period. The increasing investment opportunities in the opening of new retail outlets in the market is boosting the demand for commercial ice maker machine in Europe.
Commercial ice maker machine market in APAC
The global commercial ice maker machine market in APAC generate revenues of more than $1 billion in 2015 and will post a CAGR of over 9% by 2020. The growing population, emerging middle class, diversification of diets, increase in international food trade, and development of modern retail stores will make APAC the fastest growing region in the market. Japan, India, China, and Australia will contribute to the highest revenues in this region during the forecast period. The growing demand for flake ice makers from the healthcare and research facilities in the region will boost the sales of these products in the market.
Commercial ice maker market in ROW
The global commercial ice maker machine market in ROW generate revenues of around $148 million in 2015 and will post a CAGR of over 10% by 2020. The development of refrigerated storage capacity in the retail sector to meet the requirements for fresh food products will help in the evolution of the market in this region. The growing hospitality sector has increased the demand for commercial ice maker machines in the Middle East, especially in Dubai. The growth in the tourism sector and the economy in Latin America will create a demand for refrigeration equipment in the region.
The top leading vendors operating in the global commercial ice maker machine market are:
- Ali Group
- Follett
- Hoshizaki
- The Manitowoc Company
Other prominent vendors in the market include Bionics Scientific Technologies, Brema Ice Makers, BUUS Refrigeration, Electrolux, Focusun Refrigeration, GEA, Howe Corporation, MAJA, and Telstar.
A more detailed analysis is available in the Technavio report titled, ‘Global Commercial Ice Maker Machine Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Commercial Refrigeration Market 2016-2020
- Global Ice Cream Market 2016-2020
- Global Connected Vending Machine Market 2016-2020
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