Ice maker market is likely to witness a healthy CAGR of 6% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Ice maker market
Ice maker market is likely to witness a healthy CAGR of 6% during the forecast period. The prime factors that are contributing to the demand for ice makers are the rapidly growing food & beverage industry, growing demand for ice makers in the healthcare sector, increasing demand for household ice making systems, and good growth of e-commerce industry in Asia Pacific and Latin America.
Asia-Pacific is estimated to be the fastest-growing region for the solar street lighting market during the forecast period, driven by government initiatives for the adoption of energy efficient lighting systems, expansion of manufacturing facilities, and the decreasing product cost.
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Report Scope & Market Segmentation
Ice Maker Market Share: By Product Type
Based on the product type, the market is segmented as ice cube maker, ice flake maker, and ice nugget maker. The ice cube maker segment dominated the market in 2019, due to its increased use of these machines in residential and commercial segments. Also, the consumption of ice cubes along with cold alcoholic & non-alcoholic beverages increases the product sales.
Ice Maker Market Share: By Application Type
Based on the application type, the ice maker market is segmented as residential, commercial, and industrial. By application type, the commercial segment leads the market as ice maker systems form an essential part of foodservice or hospitality establishments as they maintain a constant production of clean and frozen ice.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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