Clear Ice Makers Market is estimated to be valued at USD 2,861.1 Billion by 2025, registering a CAGR of 6.27% during the forecast period. The growth of the foodservice industry and increasing use of clear ice makers in households are the major factors driving market growth. Product innovation is expected to create new opportunities for vendors active in the global market. However, the need for high initial investments is restricting the growth of the market.
North America accounted for a dominant share of the global clear ice makers market in 2018. The regional market is projected to exhibit a CAGR of 6.13% during the review period. The increasing consumption of alcoholic beverages is anticipated to fuel the growth of the clear ice makers market in North America. Also, product launches are a major trend gaining traction in the North American clear ice makers market. The US accounted for 78.70% of the regional market in 2018 and the market is estimated to remain dominant during the forecast period. The European garnered a significant market share in 2018 and is expected to exhibit an above-average growth rate during the forecast period. However, the market in Asia-Pacific is projected to register the highest growth rate of 6.71% during the forecast period. Rapid urbanization and a growing number of restaurants and bars are anticipated to drive the growth of the clear ice makers market in the region.
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The Global Clear Ice Makers Market has been segmented on the basis of Product Type, Category, End Use, Distribution Channel and Region.
By product type, the market has been divided into flake ice makers, ice cube makers, nugget ice makers, and others.
In terms of category, the global clear ice makers market has been bifurcated into mass-market and premium.
Based on end use, the global clear ice makers market has been classified as residential and commercial.
On the basis of distribution channel, the market has been bifurcated into store-based and non-store-based. The store-based distribution channel segment is estimated to retain its dominance during the forecast period. However, the non-store-based segment is projected to register the higher growth rate during the forecast period. The store-based segment has been further divided into supermarkets & hypermarkets and specialty stores.
Geographically, the global clear ice makers market has been categorized as North America, Europe, Asia-Pacific, and the rest of the world (RoW). As per MRFR analysis, North America dominated the market, accounting for the largest share in 2018. The market in Asia-Pacific is expected to register the highest CAGR of 6.71% during the forecast period. Europe accounted for the second-largest market share in 2018.
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Market Research Future recognizes Welbilt Inc. (US), Electrolux AB (Sweden), Sunpentown Inc. (US), Hoshizaki Corporation (Japan), Igloo Products Corp. (US), NewAir (US), Himalyanequipment Manufacturing Co. (India), Koller Refrigeration & Equipment (Hong Kong), Cornelius, Inc. (US), Ice-O-Matic (US), Scotsman Ice Machines (US), and Whynter LLC (US) as the key players in the Global Clear Ice Makers Market.