Worldwide Demand for Electric Trolling Motor is Anticipated to Reach US$ 818.6 Million by 2032

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.

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Most preferred bow mount trolling motor is likely to hold more than 60% of the market share by the end of 2022.

Key Takeaways of Electric Trolling Motors Market

• Rising popularity of electric trolling motors: Electric trolling motors are gaining significant popularity among anglers and boating enthusiasts due to their numerous advantages over traditional gasoline-powered motors. These motors offer quieter operation, greater maneuverability, and environmental friendliness, driving the demand in the market.

• Growing preference for eco-friendly boating solutions: With increasing environmental concerns, there is a growing shift towards eco-friendly boating practices. Electric trolling motors align with this trend as they produce zero emissions, contributing to cleaner and greener boating experiences.

• Technological advancements and innovation: The electric trolling motors market is witnessing continuous technological advancements, leading to improved efficiency, longer battery life, and enhanced control features. Innovations such as wireless remote controls and integrated GPS systems are adding convenience and enhancing the overall boating experience.

• Expansion of fishing and recreational boating activities: The growing interest in recreational boating and fishing activities is driving the demand for electric trolling motors. These motors offer precise speed control and allow anglers to navigate through various water bodies with ease, contributing to the market's growth.

• Increasing adoption of electric propulsion systems in marine industry: The marine industry as a whole is experiencing a shift towards electric propulsion systems, driven by factors such as stricter emission regulations and the desire for quieter and cleaner boating experiences. Electric trolling motors, being a part of this broader trend, are expected to witness significant growth in the market.

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Competitive Landscape

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.

Key Companies Profiled:

• 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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Segmentation of Electric Trolling Motor Industry Research

• By Motor Type :

o Bow Mounts
o Transom Mounts
o Engine Mounts

• By Application :

o Salt Water
o Fresh Water

• By Boat :

o Bass Boat
o Jon Boat
o Deep-V Boat
o Pontoon
o Skiffs
o Flat Boats
o Deck Boat
o Bay Boat
o Fish 'N Ski

Key Questions Covered in the Electric Trolling Motors Market Report:

• What is the projected value of the Electric Trolling Motors factors Industry in 2022?
• At what rate will the global Electric Trolling Motors factors market size grow until 2032?
• Which are the factors hampering the growth of Electric Trolling Motors factors?
• Which region is expected to lead in the global Electric Trolling Motors factors market by 2032?
• Which are the factors driving the Electric Trolling Motors factors Industry during the forecast period?
• What is the expected market value of the Electric Trolling Motors factors market during the forecast period?

Regional Analysis for Hydroxytyrosol Market:

• APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (USA, Canada and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, United Arab Emirates, South Africa)

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This release was published on openPR.