The global electric trolling motor market is set to enjoy a valuation of US$ 561.2 million in 2022 and further expand at a CAGR of 3.8% to reach US$ 818.6 million by the end of 2032. The most preferred bow mount trolling motor is likely to hold more than 60% of the market share by the end of 2022.
The offer in this portion accompanies many open doors including fabricating items, appropriation, retail, and showcasing administrations. Broad rounds of essential and far-reaching optional exploration have been utilized by the examiners at Fact.MR to show up at different assessments and projections for the Demand of Electric Trolling Motors Market both at worldwide and provincial levels.
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“Pivotal Role of Europe Union Countries in Global Fish and Seafood Trade to Bolster Market Growth”
The rising exports of fish and seafood from EU countries has encouraged the growth of commercial fishing tremendously over the past few years. EU is one the largest trader of fishery and aquaculture products in terms of value and had surpassed China’s trade value in 2017.
Therefore, the growing export activities, particularly from the Netherlands, Greece, Spain, Denmark, and the UK, is foreseen to bolster the growth of commercial fishing, thereby supporting the growth of trolling motors in the region.
Moreover, Europe’s thousands of lakes and river provides an excellent basis for angling tourism which has increased consumer spending by anglers on marine equipment. Thus, this is likely to boost the adoption of electric trolling motors during the forecast duration.
Electric trolling motor manufacturers are Minn Kota, MotorGuide, Garmin Ltd., Lowrance Electronics, Torqeedo GmbH, Newport Vessels, Intex Recreation Corp., and Haswing Outdoor.
Manufacturers are likely to gain new opportunities in the near term, owing to significant growth in the number of anglers, globally. This is anticipated to result in increased demand for fishing equipment and gear, including trolling motors, and a revamp of the production process. The electric trolling motors market will start showing positive signs by the end of 2022.
- In Jan. 2022, John Deere, one of the world’s largest equipment manufacturers has purchased a majority stake in Kreisel Electric, the company building the electric speedboat battery for the Racebirds of the upcoming E1 Series powerboat championship.
- In Nov. 2021, General Motors has acquired a 25% stake in Pure Watercraft with the goal of advancing the development and adoption of electric boats and outboard motors.
Fact.MR has provided detailed information about the price points of key manufacturers of electric trolling motor positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Electric Trolling Motor Industry Research
- By Motor Type :
- Bow Mounts
- Transom Mounts
- Engine Mounts
- By Application :
- Salt Water
- Fresh Water
- By Boat :
- Bass Boat
- Jon Boat
- Deep-V Boat
- Flat Boats
- Deck Boat
- Bay Boat
- Fish ‘N Ski
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
Market Players: –
- Minn Kota (Johnson Outdoor Marine)
- Motorguide (BrunswickCorporation)
- Garmin Ltd
- Lowrance (Navico)
- Haswing USA
- Watersnake (Jarvis Walker Pty, Inc.)
- Newport Vessels
- Torqeedo GmbH
- Rhodan Marine
- Navigator (MarineTech Products)
- Lankhorst Taselaar B.V. (Talamex)
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)