The global commercial ice equipment and supplies market is expected to be valued at USD 7.9 billion in 2023. With the integration of IoT and AI technologies, the overall scope for commercial ice equipment and supplies market is projected to grow at a CAGR of 5.5% between 2023 and 2033, totaling around USD 13.6 billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Commercial Ice Equipment and Supplies Market Value 2023 | USD 7.9 billion |
| Commercial Ice Equipment and Supplies Market Projected Value (2033) | USD 13.6 billion |
| Commercial Ice Equipment and Supplies Market CAGR (2023 to 2033) | 5.5% |
According to Future Market Insights, as companies and individuals become increasingly aware of the impact of energy consumption on the environment and climate change, there has been a growing demand for energy-efficient and environmentally-friendly products, including ice machines. End-users are looking for ice machines that can reduce their energy consumption and help them save on energy costs, while also reducing their carbon footprint.
Manufacturers of commercial ice equipment have responded to this trend by designing and producing more energy-efficient models that meet or exceed industry standards for energy efficiency. These models often feature innovative technologies that help to reduce energy consumption, such as improved insulation, more efficient compressors, and low-energy ice-making processes.
In addition to reducing energy consumption, energy-efficient ice machines can also help end-users to save on operating costs over the lifespan of the equipment. This can be a significant factor for businesses that use large volumes of ice on a daily basis, such as restaurants, hotels, and hospitals.
The demand for energy-efficient ice machines is likely to continue to grow as more end-users seek to reduce their carbon footprint and save on energy costs. This trend is expected to have a positive impact on the Commercial Ice Equipment and Supplies Market, as manufacturers continue to innovate and develop new products to meet this demand.
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The global demand for commercial ice equipment and supplies is projected to increase at a CAGR of 2.7% during the forecast period between 2018 and 2022, reaching a total of USD 13.6 billion in 2033.
According to Future Market Insights, a market research and competitive intelligence provider, the Commercial Ice Equipment and Supplies market was valued at USD 7.5 billion in 2022.
With the increasing adoption of IoT and AI technologies in various industries, the Commercial Ice Equipment and Supplies Market is also expected to witness the integration of these technologies into ice machines. This will enable the machines to be more efficient, self-monitoring, and self-cleaning, ultimately reducing maintenance and operating costs.
The IoT-enabled ice machines can be programmed to optimize energy usage by adjusting ice production rates based on demand and ambient temperature. This can reduce energy costs and improve sustainability by minimizing energy waste.
AI algorithms can be used to analyze usage patterns and predict future demand for ice, allowing businesses to optimize their inventory levels and reduce waste. This can reduce costs associated with overproduction and spoilage.
The IoT-enabled ice machines can be controlled remotely using a smartphone or other device, allowing operators to adjust settings and monitor performance from anywhere. This can improve efficiency by reducing the need for on-site personnel and enabling more efficient use of labor resources.
IoT-enabled ice machines can be equipped with touchscreens and other user-friendly interfaces, providing customers with more control and customization options. This can improve the overall user experience and help businesses differentiate themselves from competitors.
Increasing Popularity of Modular and Under-counter Ice Machines to Fuel the Market Growth
Modular and under-counter ice machines are becoming increasingly popular among end-users due to their space-saving design and ease of installation. These machines are designed to fit under a countertop or into a small space, which makes them ideal for small businesses and restaurants where space is limited. They are also easy to install and can be easily moved, which is beneficial for businesses that require mobility or have limited installation options.
Another advantage of modular and under-counter ice machines is that they offer a customizable approach to ice production. Modular ice machines allow end-users to select different sized ice heads and bins, and to add additional units as needed to meet their specific ice production needs. This modular design also makes it easier to repair and maintain the equipment, as individual components can be easily replaced or serviced.
Growing Demand for Ice Machines with Built-in Water Filtration to Accelerate the Market Growth
Water quality is an important consideration for many industries, and the demand for ice machines with built-in water filtration systems is growing. These systems help to remove impurities and contaminants from the water, which can improve the taste and quality of the ice. They can also help to extend the life of the ice machine by reducing the build-up of mineral deposits and scale.
Ice machines with built-in water filtration systems can be especially beneficial for businesses that rely on ice for food and beverage service, such as restaurants, hotels, and hospitals. In these industries, ice quality can directly impact the health and safety of customers and patients. In addition, these systems can help to reduce the frequency of machine maintenance and service, which can save businesses time and money in the long run.
High Initial Cost of the Equipment to Restrain the Market
The commercial ice equipment and supplies market requires significant capital investment to set up a manufacturing facility and acquire the necessary equipment. This can create a barrier to entry for new players, especially small businesses or startups, as they may not have the financial resources to compete with larger, established players.
For instance, to set up a manufacturing facility for commercial ice equipment, companies need to purchase specialized machinery, including metal fabricating equipment, welding machines, and automated assembly equipment. Additionally, companies need to invest in research and development to create innovative products that meet the needs of the market.
The high cost of equipment and research and development can put a strain on a company's finances, making it difficult to compete with established players who have already made these investments. Furthermore, the need for specialized expertise and a skilled workforce can further increase the costs associated with entering the market.
In addition to the costs of setting up a manufacturing facility, companies also need to invest in marketing and advertising to build brand recognition and establish a customer base. This requires additional financial resources, which can further limit the number of new entrants to the market.
Increasing Popularity of E-Commerce in North America to Fuel the Market Growth
The commercial ice equipment and supplies market in North America is expected to accumulate the highest CAGR of 5.3% from 2023 to 2033. The regional market growth is attributed to the increasing demand for ice machines in the foodservice industry.
The foodservice industry in North America is one of the largest consumers of ice machines and supplies. As the industry continues to grow and expand, the demand for commercial ice equipment and supplies is expected to increase.
Further, energy efficiency is a major concern for businesses in North America, and many end-users are looking for ice machines that are more energy-efficient and environmentally friendly. This trend is expected to continue, as companies seek to reduce their carbon footprint and save on energy costs.
The popularity of e-commerce is on the rise in North America, and many end-users are opting to purchase commercial ice equipment and supplies online. This regional trend is expected to continue, as more companies embrace online sales and marketing.
As water quality becomes an increasingly important consideration in many industries, the demand for ice machines with built-in water filtration systems is expected to increase in North America. These systems help to remove impurities and improve the quality of ice, ultimately enhancing the customer experience.
Increasing Government Tourism Industry in the Region to Fuel the Market Growth
The commercial ice equipment and supplies market in the Asia Pacific is expected to accumulate the highest CAGR of 5.2% in 2023. The growth of the regional market is attributed to the factors such as the growing foodservice industry.
The foodservice industry in Asia Pacific is growing rapidly, with the region being home to some of the world's fastest-growing economies. This has led to an increased demand for commercial ice equipment and supplies, as restaurants, hotels, and cafes require ice for their operations.
The region is experiencing rapid urbanization, with more people moving to cities in search of better job opportunities and a higher standard of living. This has led to an increase in the number of hotels, restaurants, and cafes, which in turn has driven the demand for commercial ice equipment and supplies.
Asia Pacific is a popular tourist destination, attracting millions of visitors every year. This has led to a rise in demand for commercial ice equipment and supplies, as hotels and restaurants catering to tourists require ice for their operations.
With an increasing focus on food safety and hygiene, more restaurants and hotels in Asia Pacific are investing in high-quality commercial ice equipment and supplies. This has driven the demand for equipment that meets international safety and quality standards.
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Under Counter Machine Segment to beat Competition in Untiring Market
On the basis of installation, the market is dominated by under counter machines, which is expected to hold a CAGR of 5.4% over the analysis period.
The under counter machine segment is expected to drive the growth of the commercial ice equipment and supplies market due to the increasing demand for compact and space-saving ice machines, particularly in small businesses and restaurants, where space is at a premium. These machines can be easily installed under a countertop, taking up minimal space, while still providing a consistent supply of ice.
The compact design of under counter machines makes them an ideal choice for small businesses and restaurants that have limited space. By opting for under counter machines, businesses can save space without sacrificing the production capacity of the ice machine. This feature is particularly important for businesses that require a constant supply of ice, such as bars, coffee shops, and restaurants.
In addition to their compact size, under counter machines offer various features, such as built-in water filtration systems and energy efficiency, which are driving the growth of the segment. Many under counter machines are equipped with built-in water filtration systems that help to remove impurities and improve the quality of ice, making it more appealing to customers. Moreover, the rising demand for energy-efficient equipment is driving the growth of this segment, as many under counter machines are designed to consume less energy while still providing the same production capacity.
The under counter machine segment is also expected to benefit from the increasing popularity of online sales and marketing, as businesses can easily purchase these machines online, compare prices, and find the best deals. Additionally, with the integration of IoT and AI technologies in under counter machines, they can be more efficient, self-monitoring, and self-cleaning, ultimately reducing maintenance and operating costs.
Online Stores Segment to Drive the Commercial Ice Equipment and Supplies Market
Based on the distribution channel, the online retail stores segment is expected to expand at rapid rate of 5.3% CAGR over the analysis period. Online stores segment has been witnessing rapid growth in recent years, primarily due to the increasing adoption of e-commerce and online purchasing.
The convenience of online shopping has made it popular among consumers, who can easily browse and purchase commercial ice equipment and supplies from anywhere, anytime. With just a few clicks, they can compare products, prices, and reviews from multiple sources and make informed decisions.
This trend is also driven by the fact that online sales enable companies to reach a wider audience beyond their physical locations. Online stores allow businesses to showcase their products to potential customers all over the world and expand their customer base, which can be challenging for traditional brick-and-mortar stores. Companies can also use online platforms to offer discounts, promotions, and loyalty programs, which can attract more customers and retain existing ones.
Commercial ice equipment and supplies market startup players are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to identify the interest of potential patients and create a larger customer base. For instance
Prominent players in the commercial ice equipment and supplies market are Manitowoc, Follett, Welbilt Inc., Hoshizaki, Middleby Corporation, Bluestar, Whirlpool, Scotsman, Summit, Whynter, Howe Corp., Ice-O-Matic, Danfoss AS, and HOSHIZAKI Corp., among others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.5% from 2023 to 2033 |
| Market Value in 2023 | USD 7.9 billion |
| Market Value in 2033 | USD 13.6 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Installation, Equipment Type, Ice Maker, Cooling Method, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Manitowoc; Follett; Bluestar; Whirlpool; Scotsman; Summit; Whynter; Howe Corp.; Ice-O-Matic; Danfoss AS; HOSHIZAKI Corp. |
| Customization & Pricing | Available upon Request |
As of 2022, the market for Commercial Ice Equipment and Supplies was valued at USD 7.5 billion, as per FMI
By 2023, demand for commercial ice equipment and supplies closed at a value of USD 7.9 billion
From 2018 to 2022, commercial ice equipment and supplies demand expanded at a CAGR of 2.7%
From 2023 to 2033, commercial ice equipment and supplies are expected to flourish at a CAGR of 5.5%
By 2033, the market value of commercial ice equipment and supplies is expected to reach USD 13.6 billion
By installation, the under counter machine segment is expected to constitute a CAGR of 5.4% in 2033
By distribution channel, online retail stores are expected to dominate the market with a CAGR of 5.3%
The market is valued at USD 7.9 billion in 2023.
The market registered a CAGR of 2.7% from 2018 to 2022.
The market is estimated to reach USD 13.6 billion in 2033.
The market’s CAGR from 2023 to 2033 is estimated to be 5.5%.
Manitowoc, Follett, and, Bluestar are the key market players.
| Estimated Size, 2025 | USD 11,242.5 million |
|---|---|
| Projected Size, 2035 | USD 19,570.9 million |
| Value-based CAGR (2025 to 2035) | 5.7% |
| Market Estimated Size (2023E) | USD 4,331.0 Million |
|---|---|
| Projected Market Valuation (2033F) | USD 8,599.7 Million |
| Value-based CAGR (2023 to 2033) | 7.1% |
| Market Size (2023) | USD 3700 million |
|---|---|
| Market Size (2033) | USD 7143.6 million |
| Market CAGR (2023 to 2033) | 6.8% |
| Projected Growth Rate (2022 to 2032) | 8.1% CAGR |
|---|---|
| Expected Market Value (2022) | USD 6,835.6 Million |
| Anticipated Forecast Value (2032) | USD 14,894.8 Million |
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