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Latest COVID-19 impact insights on the Global Trolling Motor Market Forecast, Trend Analysis, & Competition Tracking - Global Market Insights 2019 to 2029
Trolling motor is a secondary source of propulsion in a boat, consisting of an engine, gearbox, and propeller. It is primarily used to silently move a fishing boat through the water so as not to spook the fish. Over the years, there has been a flourishing growth in the fishing and seafood industries, since the fishing boat industry is gaining a momentum that will boost the trolling motor market in the coming years.In the current scenario, the electric trolling motor having more demand compared to the gasoline power trolling because of its easy mounting at bow or stern. The key players also focus on innovation in the electric trolling engine, which in turn propels the trolling motor market over the forecast period.
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Trolling Motor Market: Dynamics
The 2030 agenda of (SDG) aims to contribute to food security and nutrition by fisheries and aquaculture to increase fish production. As a result, demand for fishing boats will increase in the coming years, setting the momentum in the trolling motor market. Bow trolling motors are the most popular type as they are used in medium to large boats.
Because of a better control system and more functionality, bow mount is expected to see more sales in the trolling motor market over the forecast period. Besides, transom mounts are also the boat manufacturer's preferred choice because of its simpler design and easy installation, which in turn grows at a significant pace in the trolling motor market.
Trolling Motor Market: Segmentation
The global trolling motor market can be segmented on the basis of mount type, motor type and application.
According to the mount type, the trolling motor market can be segmented as:
Bow
Transom
Engine
According to the motor type, the trolling motor market can be segmented as:
Electric
Gasoline Powered
According to the application, the trolling motor market can be segmented as:
Salt Water
Fresh water
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Trolling Motor Market: Competitive Analysis
The future of the global trolling motor market looks promising with growth in the fishing industry. The market is changing rapidly with the ongoing expansion of the boating industry. Globally, the trolling motor market consolidated due to the presence of a considerable number of market key players. More modern technologies are being introduced from time-to-time, which is intended to enhance the trolling motor market.
For instance, in 2019, Garmin Ltd. launched an electric trolling motor with an autopilot, anchor ;lock and a GPS system called "the force".
In 2019, Minn Kota, added a built-in feature in their existing product, built-in is a first performance imaging technology to join the megahertz range, offering three times more information than conventional 455 kHz frequencies.
Some of the key market participants in the global trolling motor market are Minn Kota, Motorguide, Watersnake, Newport Vessels, Haswing USA, Sevylor, Prowler, Navigator, Garmin Ltd. and other players.
The research report presents a comprehensive assessment of the Trolling Motor market and contains deep insights, facts, historical and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to tea infusion market segments such as by mount type, motor type, and by application.
The Trolling Motor Market Report Covers Exhaustive Analysis on:
Trolling Motor Market Segments
Trolling Motor Market Dynamics
Trolling Motor Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
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Trolling Motor Market: Regional Overview
The global trolling motor market can be segmented into seven regions: North America, Europe, East Asia (Japan, China), South Asia (India, Thailand, Malaysia, Indonesia, Philippines, and Rest of South Asia), Oceania (Australia, New Zealand), and Latin America. Due to increasing sales for fishing boats, North America is projected to lead in the trolling motor market. Trolling motor markets in Asia Pacific countries such as India and China are likely to surge with an impressive rate due to the soaring demand for seaborne trade.
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