Electrofishing Equipment Market To Expand With Growing Modern Fishing Techniques By Robust CAGR Throughout 2019-2027

Research Nester released a report titled “Electrofishing Equipment Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

According to the statistics provided by the Food and Agriculture Organization of the United Nations (FAO), the fishing industry observed higher fatalities as compared to other occupations. Australia observed eighteen times higher fatality rate than the national average, with 8.1 per one lakh person-years in 1982 and 143 per one lakh person-years in 1984. Between 1989 and 1996, Denmark observed twenty five to thirty times higher rate of fatality in the fishing industry from those employed in land.
The statistics form an alarming need to opt for modern fishing techniques so as to reduce such fatal accidents and optimize time, money and resources for the fishing communities. Paradigm shift in fishery policies and research in developing nations is also driving the need to promote modern fishing techniques around the globe.

The term electrofishing is a process of stunning the fish in water, making it easy for fisherman and researchers, to get hold of the fish in its natural state without letting it have any physical injuries.

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The process is done by using an electrofishing equipment, which produces direct flow of electric current between a submerged cathode and anode, causing uncontrolled muscular convulsion to the fish, known as galvanotaxis, for a period of around two minutes. The fisherman in action, gets hold of the fish at this stage, as it moves towards the anode. Modern capture-method of fishing technique and preference of ecologists to study about the species of fish, are some of the key factors anticipated to support the growth of the electrofishing equipment market.

The electrofishing equipment market is anticipated to record robust CAGR over the forecast period, i.e. 2019-2027. The market is segmented by end-user into fishery and research. Among these segments, the fishery segment is anticipated to hold largest market share, owing to rising production of fish and fish products, and growing consumption associated to it. The world observed consumption growth of fish and food products from 27 million tonnes in 1961 to 132 million tonnes in 2013 as per the statistics provided by FAO.

Geographically, the electrofishing equipment market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, Asia-Pacific is expected to have largest market share on the back of statistical data by FAO, which stated it to be a global leader for supply of fish and fish products, with a total production of around 91 million tonnes in the year 2013.

However, lack of proper guidance for use of electrofishing techniques and low awareness amongst fisherman, pertaining to low literacy rates and widespread educational disadvantage in artisanal fishing communities, are some of the factors anticipated to operate as a key restraint to the growth of the electrofishing equipment market during the forecast period.

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This report also studies existing competitive scenarios of some of the key players of the electrofishing equipment market, which includes profiling of Smith-Root, Inc., Shi Jia Electronics (Dongguan) Co., Ltd., Halltech Aquatic Research Inc., Midwest Lake Management, Inc., Samus Special Electronics, Electrofisher SUM, SE Electrofishers and AquaTech.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Electrofishing Equipment Market – Global Demand Analysis & Opportunity Outlook 2027” analyses the overall electrofishing equipment industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the electrofishing equipment market in the near future.

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