Countertop Ice Makers Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Countertop Ice Makers Market Analysis
The countertop ice makers market revenue is USD 2.090 billion in the current year and is expected to register a CAGR of more than 5% during the forecast period.
- Countertop ice makers are commonly used in homes, offices, small businesses, RVs, and other similar settings. Countertop ice makers provided a quick and convenient solution for producing ice on demand without the need for a traditional freezer or ice trays.
- The use of countertop ice machines is becoming increasingly popular in office settings to meet the requirements of both staff and customers. Businesses were looking for a convenient way to provide ice for break rooms or beverages. Additionally, countertop ice machines were attractive to outdoor enthusiasts, such as campers and RV owners, who needed a convenient solution for their travels and excursions.
- Furthermore, some countertop ice machine models featured additional features, such as variable ice cube size, water filter systems, and intelligent technology integration. As consumer preferences shifted towards more convenient and efficient solutions in their day-to-day lives, countertop ice machine technology was in line with this trend.
- The pandemic led to disruptions in global supply chains, including the production and distribution of appliances like countertop ice makers. Factory closures, restrictions on movement, and labor shortages impacted manufacturing and logistics. As consumers turned to online shopping during the pandemic, the countertop ice maker market has seen an increase in online sales channels. This trend could continue as e-commerce becomes a preferred shopping method.
Countertop Ice Makers Market Trends
Growth of Food Chain Restaurants and Bars
- The chain of restaurant and bar industry has experienced a surge in demand due to the increasing number of jobs in the service industry in emerging economies such as China and India. This has resulted in an increased need for the provision of chilled beverages to customers. The global demand for ice makers is expected to be positively impacted by the ongoing population growth, urbanization, and rising disposable income.
- The popularity of alcoholic beverages such as whiskey in countries such as the United States, the United Kingdom, India, and Germany is expected to increase, particularly among young consumers. The ice maker market is expected to grow significantly in the coming years due to the growing demand for ice cubes in restaurants, bars, and hospital settings.
- The ice makers market is expected to remain stable over the next few years due to the steady growth of the quick-service restaurant industry. Eating outside is becoming more popular, and a growing number of people are turning to chilled drinks, which will drive the product demand in the coming years.
Asia-Pacific is Dominating the Market
- China is expected to be the largest revenue contributor to the growth of the regional market. The growing population in Asia Pacific and the urbanization in countries like China and India are expected to be the main factors driving the ice maker demand in the coming years.
- In addition, the economic growth in Asian countries has led to an increase in disposable income, which has become a key factor in the growth of the market. Similarly, growing customer demand for different sizes, shapes, capacities, and price points of ice makers encourages market participants to create new products.
- Food service companies are also looking for new ice shapes for cocktails at fine dining, bars, and quick-service establishments. Cocktail recipes dictate the type of ice to be used, which increases the demand for various types of clear ice. This is another factor driving the ice maker market growth.
Countertop Ice Makers Industry Overview
The countertop ice makers industry is a fragmented market. The competitive landscape is inclusive of both established brands and newer entrants offering innovative features and designs. Factors that influence competition in the countertop ice makers market include product quality, ice production capacity, ice cube size options, additional features such as water filtration and smart technology, design aesthetics, pricing, customer reviews, and brand reputation. Several manufacturers and brands compete in the countertop ice makers market. Some of the prominent players in this market include Hoshizaki Corporation, Newair, Scotsman Industries, Inc., The Manitowoc Company, Inc., and Ice-O-Matic (Mile High Equipment LLC)
Countertop Ice Makers Market Leaders
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Hoshizaki Corporation
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Newair
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Scotsman Industries, Inc.
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The Manitowoc Company, Inc.
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Ice-O-Matic (Mile High Equipment LLC)
*Disclaimer: Major Players sorted in no particular order
Countertop Ice Makers Market News
- July 2022: Hoshizaki made two significant acquisitions. First, Hoshizaki acquired Beijing RoyalKitchen Science and Technology Co. Ltd., a Chinese commercial kitchen design company. This acquisition was executed through Hoshizaki China Holdings Co. Ltd., a subsidiary of Hoshizaki.
- July 2022: Hoshizaki expanded its portfolio by acquiring Brema, an Italian manufacturer specializing in commercial ice makers. Brema is renowned for its commercial ice machines, with a strong presence in Italy and a broad product range. Beyond Italy, Brema has established its business footprint in Southern Europe, Eastern Europe, and Middle East countries.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Energy Efficiency and Sustainability
4.3 Market Restraints
4.3.1 Perception as Non-Essential Appliance
4.4 Market Opportunities
4.4.1 Creating Technological Advancements and Energy Efficiency Products
4.5 Value Chain Analysis
4.6 Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights into Technological Advancements in the Industry
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Cube Ice Maker
5.1.2 Half Cube Ice Maker
5.1.3 Nugget Ice Maker
5.1.4 Flake Ice Maker
5.2 By Application
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Online
5.3.2 Offline
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Rest of Asia Pacific
5.4.4 Latin America
5.4.4.1 Argentina
5.4.4.2 Brazil
5.4.4.3 Chile
5.4.4.4 Rest of Latin America
5.4.5 Middle East & Africa
5.4.5.1 United Arab Emirates
5.4.5.2 Saudi Arabia
5.4.5.3 Israel
5.4.5.4 South Africa
5.4.5.5 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Hoshizaki Corporation
6.2.2 Newair
6.2.3 Scotsman Industries, Inc.
6.2.4 The Manitowoc Company, Inc.
6.2.5 Ice-O-Matic (Mile High Equipment LLC)
6.2.6 SPT
6.2.7 Cornelius
6.2.8 Whynter LLC
6.2.9 MaxxIce
6.2.10 Sunpentown (SPT) Inc.*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Countertop Ice Makers Industry Segmentation
A countertop ice maker is a compact and portable appliance designed to produce ice cubes on demand. It is typically placed on a countertop and does not require a water hookup, as it usually has a built-in water reservoir. Countertop ice makers are commonly used in homes, offices, small businesses, and other settings to provide a convenient and quick source of ice.
The countertop ice makers market is segmented by product (cube ice maker, half cube ice maker, nugget ice maker, and flake ice maker), by application (residential and commercial), by distribution channel (online and offline), and by geography ( North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
The report offers market size and forecasts in value (USD) for all the above segments.
| By Product | |
| Cube Ice Maker | |
| Half Cube Ice Maker | |
| Nugget Ice Maker | |
| Flake Ice Maker |
| By Application | |
| Residential | |
| Commercial |
| By Distribution Channel | |
| Online | |
| Offline |
| By Geography | |||||||
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Frequently Asked Questions
What is the current Countertop Ice Makers Market size?
The Countertop Ice Makers Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Countertop Ice Makers Market?
Hoshizaki Corporation, Newair, Scotsman Industries, Inc., The Manitowoc Company, Inc. and Ice-O-Matic (Mile High Equipment LLC) are the major companies operating in the Countertop Ice Makers Market.
What years does this Countertop Ice Makers Market cover?
The report covers the Countertop Ice Makers Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Countertop Ice Makers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Countertop Ice Makers Industry Report
Statistics for the 2024 Countertop Ice Makers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Countertop Ice Makers analysis includes a market forecast outlook to for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
