Ice Maker Market Size & Insights

As per recent study by MarkNtel Advisors The Global Ice Maker Market size was valued at around USD 5.78 billion in 2024 and is projected to reach USD 7.20 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 3.73% during the forecast period, i.e., 2025-30.

What are the Key DROs in the Ice Maker Market?

Rising Tourism Sector is Propelling the Demand for Ice Makers – Countries in Asia & South America are largely dependent upon tourism to generate their overall revenue & for their growth. As a result, to attract more foreign visitors, these countries provide attractive offers such as visa clearance on arrival, easy currency exchange, etc. Southeast Asian countries like Indonesia, Thailand, Vietnam, etc., have emerged as economic international tourist destinations for visitors from across the globe & especially from nearby countries like India, Middle Eastern nations, and others. This has resulted in a boom in the travel & tourism sector by encouraging business travel & leisure tourism among such countries.

The growing number of foreign visitors is, hence, increasing the number of hotel chains in such nations. Such as, Recently, major hotel groups like The Standard, Melia Chiang Mai, etc., entered Thailand. These new hotels have been generating market demand for ice cube makers. In addition, ice cubes are a prerequisite for serving drinks & beverages, thereby upscaling the market sales of ice makers.

Moreover, in the coming years, the expansion of hotels & food outlets is foreseen to enhance the need for ice makers as hotels like Hyatt Grand, Six Sense, and others are in the pipeline & are presumed to be operational. Thus, creating a conducive environment for the growth of the Ice Maker market in the forecast years.

What are the Key Segments in the Ice Maker Market?

The Ice Maker is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

·       By Type

o   Ice Cube Maker

o   Ice Flake Maker

o   Ice Nugget Maker

o   Others (Tube, Gourmet, etc.)

·       By Output Capacity

o   Upto 100 Kgs per day

o   100.1-500 Kgs per day

o   500.1- 1000 Kgs per day

o   Above 1000 Kgs per day

·       By End Users

o   Hospitality

§  Convenience Stores

§  Quick & Full Service Restaurants

§  Hotels

o   Other Commercial Spaces

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How does geographical analysis highlight in the Ice Maker market?

By Region

·       North America

·       South America

·       Europe

·       The Middle East & Africa

·       Asia-Pacific

Who are the Key Players in Ice Maker Market?

Cornelius, Inc., Direct Catering Products Ltd., Hoshizaki Corporation, Howe Corporation, ITV Ice Makers, Guangzhou Icesource Co., Ltd., The Middleby Corporation, North Star Ice Equipment, Festivo-Porkka Group, NewAir, LLC, Marel, Manitowoc Ice, Scotsman Ice Systems, Whynter LLC, Ice-o-Matic, and Others

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Ice Maker Market News

• 2025: Hoshizaki Corporation declared that it would upgrade 22 cube ice maker models by transitioning from HFCs to natural refrigerants, aligning with environmental goals. Covering daily capacities of 20 kg to 115 kg, the changes span countertop, undercounter, self-contained, sliding-door, and modular types.

Key pillars of the research methodology include:

·       Scope & Research Design – Clearly defined objectives with tailored qualitative and quantitative methods, backed by precise timelines and budgets.

·       Sample Selection & Data Collection – Representative samples achieved through proven techniques like random and stratified sampling, supported by reliable tools such as surveys, interviews, and observations.

·       Data Analysis & Validation – Rigorous cleaning, advanced statistical modeling, and thematic analysis ensure accuracy, reliability, and minimal bias.

·       Forecasting & Finalization – Predictive modeling and time-series analysis anticipate future market behaviors, presented through insightful reports with charts, graphs, and strategic recommendations.

"Our methodology reflects the trust businesses place in us. By combining innovation with precision, we deliver not just numbers, but clarity and direction for decision-makers worldwide," said a spokesperson for MarkNtel Advisors.

Why This MarkNtel Advisors Research Report:

• In-depth Market Analysis: Understand trends and dynamics shaping growth.
• Segmented Insights: Target specific segments for focused strategies.
• Geographical Performance: Assess market opportunities by geographic area.
• Emerging Technologies: Discover advancements like AI integration.
• Risk Identification: Pinpoint challenges to inform strategic planning.
• Future Forecasts: Prepare for market changes with actionable projections.

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