The remote cooled cube ice machines market size is projected to reach USD 1.86 billion in 2023 and is forecast to surpass USD 3.03 billion by 2033. Sales of remote cooled cube ice machines are anticipated to rise at a CAGR of 5% during the forecast period.
Key Factors Influencing the Remote Cooled Cube Ice Machines Industry
Industry Challenges for the Remote Cooled Cube Ice Machines Market
Opportunities in the Remote Cooled Cube Ice Machines Industry
Remote Cooled Cube Ice Machines Industry Trends
Due to the anticipated price reduction, the demand for these machines in the food and beverages industries is expected to increase.
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Carbon emission reduction initiatives are being implemented by governments around the world to reduce global warming. Such initiatives are driving the demand for remote cooled cube ice machines.
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 1.86 billion |
| Projected Market Size (2033) | USD 3.03 billion |
| Growth Rate (2023 to 2033) | 5% |
The remote cooled cube ice machine industry recorded a CAGR of 12% between 2018 and 2022. Due to the need for green energy solutions and the availability of government subsidies, remote cooled cube ice machines have become increasingly popular in recent years. Technology advancements, particularly in the area of design and manufacturing of remote ice cubes, contributed to the growth of the market.
| Period | Market Size (in USD billion) |
|---|---|
| 2018 | USD 1.6 billion |
| 2019 | USD 1.64 billion |
| 2020 | USD 1.68 billion |
| 2021 | USD 1.77 billion |
| 2022 | USD 1.81 billion |
The remote cooled cube ice machines market is expected to continue growing at a CAGR of 5%. Some cube ice machines will be featuring a remote control feature in 2023, which will allow users to be able to monitor, control and view their cube ice machines remotely using their smart phones or computers.
The development of a new solar-powered ice machine cooling technology has made it one of the most environmentally friendly and cost-effective ice machines on the market. Several remote cooled cube ice machines now come equipped with a touchless dispensing system that drastically reduces the risks of contamination by eliminating the need for physical contact with the machine.
Foodservice establishments can configure remote ice machines to meet their specific needs. As a result of their versatility, they are a popular choice for operators seeking a specific type of ice machine in the market. Investment in research and development will enable companies to develop products that are more efficient and affordable in order to compete in a growing market.
Increasingly, remote ice machines are using automation to make their machines run more efficiently, making maintenance and troubleshooting easier and more convenient in the market. In remote ice machines, eco-friendly refrigerants are becoming increasingly popular as consumers place a greater emphasis on sustainability. As connected technologies are being integrated into remote ice machines, operators are also able to monitor and control these devices from a distance, making it easier for them to manage the equipment.
FMI estimates the North American market will hold almost 45% of the global market in 2023. North American remote cooled cube ice machines are expected to grow at a CAGR of 5.7% between 2023 and 2033. Ice cubes are expected to grow in demand as the food service and hospitality industries both require increasingly more cubes.
Moreover, the growing popularity of cube ice machines in the beverage sector is expected to drive market growth. A remote cooled cube ice machine, as well as a convenient and easy-to-use ice machine, will become one of the fastest-growing market segments in North America. Furthermore, ice machines that are energy efficient and environmentally friendly are expected to be in high demand in the future.
The market for remote cooled cube ice machines in Asia Pacific is expected to hold around 35% of the market by 2023. Increasing demand for ice cubes in the hospitality, food, and beverage (F&B), and healthcare industries is fueling market growth in the Asia Pacific region. In addition, the growing number of restaurants and the rapid growth of the retail sector is driving the market's growth.
The global trend among consumers to look for convenience and ease in storing ice cubes has led to the development of innovative and compact ice cube machines, which is further stimulating market growth. Technology advancements and energy-efficient machines are also contributing to the growth of the market. It is anticipated that the growing number of large and medium-sized supermarkets, restaurants, and food outlets in the region will increase demand for cooled cube ice machines.
By 2023, the Undercounter segment is expected to hold around 26% market share in remote cooled cube ice machines. The hospitality and food industries are both trending towards convenience and as a result, more ice cubes are being consumed in the food industry.
In addition, the market will grow with the popularity of self-service ice machines, as well as higher demand from restaurants, hotels, and bars. As awareness regarding sanitation and hygiene standards grows, the market is likely to grow. Moreover, technological advances, such as the development of energy-efficient ice machines, are expected to contribute to the growth of this market. The market is also likely to benefit from the increased adoption of advanced technologies, such as smart ice machines.
The pre-charged remote condenser market is expected to dominate the remote cooled cube ice machines market, accounting for 28% by 2023. There are several potential benefits associated with pre-charged remote condensers.
Depending on their application, they can be used to cool, condition, and refrigerate systems. In addition to storing and transferring energy, they can also be used for solar energy systems.
As well as improving industrial processes, like chemical production, they can also improve energy efficiency. Condensers with a pre-charged battery can be a cost-effective, energy-efficient and safe choice when equipped with the appropriate features and components.
With a 58% market share by 2023, the offline segment is expected to dominate the remote cooled cube ice machines market. The market is projected to grow significantly over the forecast period. Food and beverage industries, particularly those in developing countries, are increasingly adopting remote cooled cube ice machines. Their ability to provide a customized solution that is affordable and can be tailored to fit the needs of the individual is driving this segment's growth.
With the increasing demand for discounts and easy EMI options, the market for offline store products is expected to increase substantially in the years to come. The availability of a wide range of brands and the provision of home services and maintenance is further expected to expand the market growth in the coming years.
Several competitors are competing for dominance in the remote cooled cube ice machine market. Markets are extremely fragmented as many small and medium-sized businesses compete with major chains in the market.
Leading companies maintain market leadership through product innovation, increased growth in foreign markets, and strategic alliances. A significant amount of money is also being invested in research and development in order to create a reliable and durable remote cooled cube ice machine market.
Recent Developments in the Remote Cooled Cube Ice Machines Industry
| Company Name | Kold Draft |
|---|---|
| Key Focus Areas | Energy-efficient, Flexible, Innovation |
| Key Offerings | Ice Bins, Ice Machines |
| Company Name | Snowsman |
|---|---|
| Key Focus Areas | Sustainability, Tailor-made solutions |
| Key Offerings | Separated cube ice machines, Standard integrated cube ice, Economic Integrated cube ice |
| Company Name | Ice-O-Matic |
|---|---|
| Key Focus Areas | Innovative elevation series range, High-quality standards |
| Key Offerings | Ice Storage Bins, Ice Dispensers, Undercounters, Flake Ice Machines, Cube Ice Machines |
| Company Name | Vogt |
|---|---|
| Key Focus Areas | Wide product range, Automatic Ice Production solutions, Customized Solutions |
| Key Offerings | Commercial Ice-making Machines, Condensers, Ice Machine Plate Chillers |
| Company Name | Manitowoc |
|---|---|
| Key Focus Areas | Touchless solutions, energy-saving |
| Key Offerings | Traditional remote, QuietQube Remote, Modular Ice Machines, Undercounter Ice Machines |
Remote Cooled Cube Ice Machines Market Expansion Strategies
The market is valued at USD 1.8 billion in 2023.
The market’s CAGR from 2023 to 2033 is expected to be 5.0%.
IMI Cornelius, Kold Draft, and Vogt are key market players.
Under counter machine segment is likely to remain preferred through 2033.
The market is expected to reach USD 3.0 billion by 2033.
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Remote Cooled Cube Ice Machines Market
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