MarkNtel Advisors recently published a detailed industry analysis of the Ice Maker Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Ice Maker Market (2023-2028)
The Global Ice Maker Market is projected to grow at a CAGR of around 4.5% during the forecast period, i.e., 2023-28.
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What is driving 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 economical 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. For instance:
- In 2022, Thailand welcomed nearly 1 million visitors from India, which is the second largest after Malaysia. Also, in 2023, the country aims to attract about 2 million Indian visitors, stated the Tourism Authority of Thailand.
The growing number of foreign visitors is, hence, increasing the number of hotel chains in such nations. Such as, in 2021 & 2022, 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 by 2024. Thus, creating a conducive environment for the growth of the Global Ice Maker marker in the forecast years.
What segments define the Ice Maker Market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
By Type
(Ice Cube Maker, Ice Flake Maker, Others),
By End Users
(Healthcare, Hospitality, Food & Beverage Processing, Power Generation, Others),
By Region
(North America, South America, Europe, Asia-Pacific, Middle East & Africa)
Explore the Complete Ice Maker Market Analysis Report – https://www.marknteladvisors.com/research-library/ice-maker-market.html
Who are the leading key players shaping the Ice Maker Market landscape?
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, Others
Questions Addressed in this Study
1.What factors are driving the Ice Maker Market growth?
2.How is the Ice Maker Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Ice Maker Market?
4.What is the current size of the Ice Maker Market, and how is it projected to change in the future?
6.What is the future outlook for the Ice Maker Market in terms of technological advancements and market expansion?
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