Press release
Electric Trolling Motors Market To Reach US$ 818.6 Million By The End Of 2032
By the end of 2020, the global electric trolling motors market is estimated to have reached a value of US$ 546 million, growing at a CAGR of 3.2 percent (2020-2030). Because of the widespread spread of COVID-19, a number of anglers are remaining indoors, which has a negative influence on electric trolling motor sales.Manufacturers are leveraging digital technology and engaging clients via online portals to ensure business continuity during this crisis. As a result of the pandemic, consumers' attention has switched to e-Commerce platforms. Furthermore, a number of trolling motor manufacturers have begun selling trolling motors through their websites. As a result, demand for electric trolling motors will increase.
Manufacturers are following industry trends and focused on providing anglers with incredible opportunities to fish effectively. They're merging
motors with GPS systems, for example.
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Key Companies
• 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)
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Key Segments of Electric Trolling Motors Market
For the better understanding of readers, Fact.MR's study on the electric trolling motors market offers information divided into four key segments - motor, application, boat, and region. This report offers comprehensive data and information about various important market dynamics and growth parameters that are closely associated with these categories.
Motor
• Bow Mounts
• Transom Mounts
• Engine Mounts
Application
• Salt Water
• Fresh Water
Boat
• Bass Boats
• Jon Boats
• Deep-V Boats
• Pontoons
• Skiffs
• Flat Boats
• Deck Boats
• Fish and Skis
Region
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa (MEA)
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Which Boat Type Gaining Maximum Market Share?
A Jon boat is a small fishing boat specially designed for rivers, small lakes, and other calmer waters. They are ideal for navigating shallow waters because of their flat bottom design. Jon boats can travel farther upstream than boats with a deeper draft and they can get very close to shore. Further, the growing number of outdoor events such as recreational fishing and sport fishing activities among all kinds of people, all ages and income groups are expected to drive the growth of electric trolling motors market
Jon boat and bass boat has gaining maximum share in all of the boat types. Jon boat segment was valued ~1.7X than Bass boat segment owing to the growing demand, furthermore, the segment was pegged at a valuation of US$ 137.4 Mn in electric trolling motor market in 2021.
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