Ice Making Machine Manufacturing in the US - Industry Market Research Report

Chill Out: Revenue is Expected to Rise as Dining Out and Travel Return, while Hospital Demand Stays High

The Ice Making Machine Manufacturing industry experienced subdued growth over the five years to 2018. Healthcare, hospitality and food service providers are the industry's primary markets. Despite strong demand from hospitals, restaurants and businesses in the hospitality industry, import penetration has resulted in intermittent revenue declines during the period. Underlying industry demand has been sustained by growth in the accommodation and food services sector. As the US economy grew over the past five years and employment and disposable incomes rose, consumers began to spend more on traveling and dining out. Increased demand and sales at hotels, restaurants and other food service providers justified the need for capital spending on durable machinery, such as ice making machines. Over the next five years, industry revenue growth is expected to accelerate as exports rise. The industry will also benefit from stable growth in aggregate private investment and in the accommodation and food services sector. Growth in these vital markets will propel ice making machine sales, leading to increased industry revenue over the five years to 2023. This industry manufactures ice making machines, including ice cube makers, ice flake makers and combination ice makers, primarily served to commercial markets. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.