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Trolling Motor Market Size, Share, Opportunities, And Trends By Product Type, By Product Application, By Technology, By Geography- Forecasts From 2023 To 2030
Trolling Motor Market Overview:
Trolling motors are small electric motors that are attached to the bow or stern of a boat and used to move the boat slowly and quietly through the water. Trolling motors are popular among anglers because they allow them to approach fish without spooking them.
The global trolling motor market is expected to grow from USD 634.3 million in 2022 to USD 921.5 million by 2030, at a CAGR of 8.1% during the forecast period. The growth of the market is attributed to the increasing popularity of fishing and recreational boating activities, along with the rising demand for innovative and efficient trolling motors.
The following are the key market drivers:
Rising Interest in Recreational Fishing: The increasing popularity of recreational fishing, both freshwater and saltwater, has been a significant driver for the trolling motor market. More people are engaging in fishing as a leisure activity, creating a demand for efficient and user-friendly trolling motors.
Technological Advancements: Continuous advancements in trolling motor technology have driven market growth. Improved features such as wireless controls, GPS integration, and digital displays have made trolling motors more attractive to anglers.
Environmental Concerns: Growing awareness of environmental sustainability and conservation efforts has led to a shift from gas-powered engines to electric trolling motors. Electric trolling motors produce fewer emissions, have a lower impact on aquatic ecosystems, and are seen as more environmentally friendly.
Regulations and Restrictions: Environmental regulations, noise restrictions, and restrictions on gas-powered motors in certain water bodies have driven the adoption of electric trolling motors. Anglers are turning to trolling motors to comply with these regulations.
Innovation in Battery Technology: Advances in battery technology, particularly lithium-ion batteries, have improved the performance and longevity of electric trolling motors. Longer battery life and faster charging times have made electric trolling motors more appealing.
Market Snapshot:
Trolling Motor Market- Report Coverage:
The “Trolling Motor Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Sniper rifle Market.
Trolling Motor Market Report – Top Trends
Growing demand for lithium-ion trolling motors: Lithium-ion trolling motors are becoming increasingly popular due to their advantages over traditional lead-acid batteries, such as lighter weight, longer lifespan, and faster charging. Lithium-ion trolling motors are also more environmentally friendly than lead-acid batteries.
Rising demand for trolling motors with integrated GPS and fishfinder systems: Trolling motors with integrated GPS and fishfinder systems are becoming increasingly popular among anglers. These systems provide anglers with valuable information about their surroundings and help them locate fish more easily.
Development of new and innovative features: Trolling motor manufacturers are constantly developing new and innovative features to make trolling motors more user-friendly and efficient. Some of the latest features include remote control, autopilot systems, and spot-lock systems.
Increasing popularity of trolling motors among recreational boaters: Trolling motors are no longer just for anglers. Recreational boaters are also starting to see the benefits of using trolling motors, such as the ability to maneuver their boats more easily in tight spaces and to operate their boats more quietly.
Growth of the trolling motor market in emerging regions: The trolling motor market is growing rapidly in emerging regions, such as Asia Pacific and Latin America. This is due to the increasing popularity of fishing and recreational boating activities in these regions.
Trolling Motor Market- Company Product Analysis
Minn Kota Ultrex: The Minn Kota Ultrex is a high-end trolling motor that is known for its innovation and performance. The Ultrex features a number of innovative features, such as the Spot-Lock system, which allows anglers to lock their boat in position with the push of a button, and the i-Pilot Link system, which allows anglers to control their trolling motor from their smartphone or tablet.
MotorGuide Xi5: The MotorGuide Xi5 is another high-end trolling motor that is known for its innovation and performance. The Xi5 features a number of innovative features, such as the PinPoint GPS system, which provides anglers with precise GPS accuracy, and the VariMax trolling motor, which allows anglers to infinitely adjust the speed of their trolling motor.
Newport Vessels Saltwater Series: The Newport Vessels Saltwater Series is a line of trolling motors that are designed specifically for saltwater use. The Saltwater Series trolling motors are made with durable materials and feature a number of features that make them ideal for saltwater use, such as a sacrificial zinc anode and a powder-coated finish.
Watersnake Venom: The Watersnake Venom is a popular trolling motor for small boats. The Venom is lightweight and portable, making it easy to transport and install. The Venom also features a number of features that make it ideal for small boats, such as a shallow water drive system and a variable speed control.
PowerDrive Vanguard: The PowerDrive Vanguard is a popular trolling motor for kayaks and canoes. The Vanguard is lightweight and compact, making it easy to mount on a kayak or canoe. The Vanguard also features a number of features that make it ideal for kayaks and canoes, such as a whisper-quiet motor and a weedless prop.
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Market. The top 10 companies in this industry are listed below:
- Minn Kota
- MotorGuide
- Newport Vessels
- Watersnake
- PowerDrive
- Maxxum
- Riptide
- Endura
- Vantage
- Fortify
Scope of Report:
Key Market Players
1. Minn Kota
2. MotorGuide
3. Newport Vessels
4. Watersnake
5. PowerDrive
6. Maxxum
7. Riptide
8. Endura
9. Vantage
10. Fortify
1. Trolling Motor Market - Overview
1.1 Definitions and Scope
2. Executive summary
2.1 Key Trends by Company
2.2 Key Trends by type of Application
2.3 Key Trends segmented by Geography
3. Competitive Analysis
3.1 Product Benchmarking - Top 5 companies
3.2 Financial Analysis
4. Start-up companies Scenario Premium
4.1 Start-up Company Analysis
5. Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
6. Market Forces
6.1 Drivers
6.2 Constraints
6.3 Challenges
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Product life cycle
7.4 Suppliers and distributors Market Share
8. Trolling Motor Market - By Product ($Million / $Billion)
8.1 Freshwater
Top Trends, Growth Factors and Opportunities
TAM & Forecast by Region
8.2 Saltwater
Top Trends, Growth Factors and Opportunities
TAM & Forecast by Region
8.3 All Water
Top Trends, Growth Factors and Opportunities
TAM & Forecast by Region
9. Trolling Motor Market - By Technology ($Million / $Billion)
10. Trolling Motor - By Application ($Million / $Billion)
10.1 Private
Top Trends, Growth Factors and Opportunities
TAM & Forecast by Region
10.2 Commercial
Top Trends, Growth Factors and Opportunities
Market Size & Forecast by Region
11. Trolling Motor- By Geography ($Million / $Billion)
11.1 North America Trolling Motor Market -Segment Research
11.2.5.1 U.S
11.2.5.2 Canada
11.2.5.3 Mexico
11.2.5.4 Rest of North America
11.3 South America Trolling Motor Market- Segment Research
11.4.5.1 Brazil
11.4.5.2 Venezuela
11.4.5.3 Argentina
11.4.5.4 Ecuador
11.4.5.5 Peru
11.4.5.6 Colombia
11.4.5.7 Costa Rica
11.4.5.8 Rest of South America
11.5 Europe Trolling Motor Market- Segment Research
11.6.5.1 U.K
11.6.5.2 Germany
11.6.5.3 Italy
11.6.5.4 France
11.6.5.5 Netherlands
11.6.5.6 Belgium
11.6.5.7 Denmark
11.6.5.8 Spain
11.6.5.9 Rest of Europe
11.7 APAC Trolling Motor Market -Segment Research
11.8.5.1 China
11.8.5.2 Australia
11.8.5.3 Japan
11.8.5.4 South Korea
11.8.5.5 India
11.8.5.6 Taiwan
11.8.5.7 Malaysia
11.8.5.8 Hong kong
11.8.5.9 Rest of APAC
11.9 Middle East and Africa Trolling Motor Market - Segment Research
11.10.5.1 Israel
11.10.5.2 Saudi Arabia
11.10.5.3 UAE
11.10.6 Africa Segment Analysis
11.10.6.1 South Africa
11.10.6.2 Rest of Middle East & Africa
12. Entropy
12.1 New product launches
12.2 M&A s, collaborations, JVs and partnerships
13. Industry / Segment Competition landscape Premium Premium
13.1 Market Share Analysis by Region- Top 5 companies by Region
14. Key Company List by Country Premium Premium
15. Company Analysis
15.1 Minn Kota (a brand under Johnson Outdoors Inc.)
15.2 MotorGuide (a brand under Garmin Ltd.)
15.3 Newport Vessels
15.4 Watersnake (a brand under Jarvis Walker Pty Ltd.)
15.5 Torqeedo (a subsidiary of Deutz AG)
15.6 Haswing USA
15.7 Garmin Ltd.
15.8 Raymarine (a brand under FLIR Systems)
15.9 Aquos Inflatable Boats
15.10 Cloud Mountain Inc.
*Financials would be provided on a best efforts basis for private companies
16. Research Report Appendix
16.1 Abbreviations
16.2 Sources
17. Research Report Methodology
17.1 Research Methodology
17.1.1 Company Expert Interviews
17.1.2 Industry Databases
17.1.3 Associations
17.1.4 Company News
17.1.5 Company Annual Reports
17.1.6 Application Trends
17.1.7 New Products and Product database
17.1.8 Company Transcripts
17.1.9 R&D Trends
17.1.10 Key Opinion Leaders Interviews
17.1.11 Supply and Demand Trends
The Trolling Motor Market is projected to grow at 8.1 %CAGR during the forecast period 2021-2030.
Trolling Motor Market size is estimated to reach $ 921.5 million by 2030
The leading players in the Trolling Motor Market are Minn Kota, MotorGuide, Newport Vessels, Watersnake, PowerDrive, Maxxum, Riptide, Endura, Vantage, Fortify