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According to the latest report by IMARC Group, titled “Ice Maker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global ice maker market reached a value of US$ 4.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.1 Billion by 2027, exhibiting at a CAGR of 4.66% during 2022-2027. Ice maker, commonly known as an ice machine, may refer to both a stand-alone appliance and industrial machine which produce ice for both residential as well as commercial uses. Depending on the requirement of the consumer, it is available in different sizes, ranging from small to large. Some of the basic components which are used in the production of an ice maker include motor, valves, blades, thermostat, heater terminal, evaporator, condenser, compressor and throttle valve.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The global ice maker market is observing a positive growth on account of emerging demand from the healthcare industry. This can be accredited to the widening applications of ice in the industry, particularly for storing organs and assisting in rehabilitating procedures. Apart from this, ice maker finds diverse applications in biotechnology, microbiology, biochemistry and genetic engineering laboratories, for storing biological samples and necessitating transportation to other facilities. Moreover, the increasing popularity of cryotherapy (cold therapy) has resulted in the growth of the ice maker market. Furthermore, the demand for ice makers is proliferating in the fast-food sector due to constant growth in the industry as well as inflating incomes of the consumers. However, high initial investment acts as a major hindrance which is abstaining the growth of the market.
Ice Maker Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global ice maker market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the global ice maker market on the basis of product type, end use sector and region.
Breakup by End Use Sector:
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Key highlights of the report:
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