Ice maker, also known as ice machine or ice generator, refers to an industrial and consumer device which produces ice. It is made of various components which include an evaporator, compressor, condenser and throttle valve. An ice maker comes in various sizes ranging from small to big as per the requirement of the consumers.In the current scenario, they are being increasingly used all over the world across different sectors.“Ice Maker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global ice maker market reached a value of nearly US$ 4.1 Billion in 2017.
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<b>Ice Maker Market Share</b>
The global ice maker market is being primarily driven by the rising need for ice makers in numerous microbiology, genetic engineering, biochemistry and biotechnology laboratories for storing biological samples. In addition to this, the growing need for ice makers in cold compression therapies is further propelling the growth of the market. Moreover, there is a rise in fast food chains owing to sedentary lifestyles and an increase in disposable incomes which has resulted in an augmented demand for ice makers.Looking forward, the market value is projected to exceed US$ 5.9 Billion by 2023, expanding at a CAGR of more than 6.2% during 2018-2023.
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