Electric Trolling Motors Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030

Published on : Jul-2020 | List of Tables : 56 | List of Figures : 128 | No. of Pages : 170 | Report Code : FACT4860MR |

Electric Trolling Motors Market Insights

The electric trolling motors market value is poised to expand 1.4X and register a CAGR of 3.2% during the forecast period (2020-2030). However, the COVID-19 pandemic is having a negative impact on the global electric trolling motors market in 2020, due to the closure of plants in leading trolling motor manufacturing countries in North America and Europe.

The pandemic has also impacted the supply of components to manufacturing facilities, thereby resulting in declining production of trolling motors. However, manufacturers are optimistic that flourishing growth of the fishing and seafood industries will provide impetus to the fishing boat industry. This, in turn, is anticipated to boost the growth of the electric trolling motors market size during the forecast period.

Electric Trolling Motors Market Trends

Over the years, electric trolling motors have gained significant popularity, as they enable anglers to have complete control over the boat and move through the water quietly by creating minimum disturbances. Further, growing number of outdoor events such as recreational fishing and sport fishing activities among the population of all ages and income groups is expected to drive the growth of the electric trolling motors market.

As per the Recreational Boating & Fishing Foundation (US), the recreational boating industry was estimated to be valued at US$ 41 Bn in 2018, with an increase of 7% from the previous year in terms of sales of boats, marine products, and services. This, in turn, is foreseen to unlock more growth avenues for the electric trolling motors market.

Electric Trolling Motors Market Analysis by Motor

Bow mount trolling motors are estimated to account for around 60% of the total market share in 2020. Bow mount trolling motors are the most popular type of trolling motors, as they can be integrated on medium to large size boats. In addition, bow mount motors provide significant control over the boat as compared to other variants. This, in turn, is creating a plethora of opportunities for market players active in the production of bow mount trolling motors.

On the other hand, rise in the adoption of fishing as a leisure activity among the younger demographics is resulting in increasing sales of transom mount trolling motors. These motors are easy to install and tend to be more affordable than their counterparts. Thus, numerous manufacturers are venturing into these segments to capitalize on the growing demand for electric trolling motors.

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Electric Trolling Motors Market: Regional Insights

North America is estimated to dominate the global electric trolling motors market with 49% share of total revenue, followed by Europe. The National Marine Manufacturers Associations (NMMA) has estimated strong growth of boat sales in the U.S. For instance, in 2019, the country witnessed a rise in unit sales of fishing power boats. Such factors are further foreseen to reinforce the regional market.

Rising exports of fish and seafood from European countries have influenced the popularity of commercial fishing. Growing export activities are thus foreseen to bolster the demand for commercial fishing, and subsequently support the growth of the trolling motors market in the region.

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Electric Trolling Motors Market: Competitive Analysis

The electric trolling motors market is majorly dominated by Minn Kota and MotorGuide. However, there are a large number of local and regional players in the market space. Leading players are concentrating on product launches in order to broaden their market footprints. For instance, in 2019, MotorGuide introduced two new products – Tour and Tour Pro trolling motors. Both products are built for tough conditions with a full 360-degree breakaway mount with an integrated bounce buster and a rugged two-piece shaft with a metal outer column and a composite inner shaft. In the same year, Lowrance Electronics Inc. introduced its Ghost freshwater trolling motor, which uses a brushless motor and helps in eliminating noisy operation. It is integrated with zero sonar interference in order to provide anglers the clearest sonar view possible.

COVID-19 Impact Analysis

The COVID-19 pandemic has limited the growth of the electric trolling motors market. The closure of plants in North America and Europe has brought down the sales of trolling motors, and has added intense pressure to manufacturers and distributors. North America is one of the most prominent regions in the global electric trolling motors market; however, it will witness maximum fall in demand, as it emerges as the most affected region by the pandemic. Amid the downturn for offline sales of electric trolling motors, growing use of virtual technologies to influence online shopping among consumers is expected to gradually drive the sales of electric trolling motors.

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. As per the report published by Fact.MR, it is estimated that, the electric trolling motors market will start showing positive signs by the second quarter of 2021.

The Analyst’s Viewpoint

The ongoing COVID-19 pandemic has hit market players adversely on the supply side, causing a decline in the sales of trolling motors. However, growing advancements in marine electronics to improve motor performance and features, coupled with effective integration of technology, are foreseen to open new growth avenues for the electric trolling motors market.

Global Electric Trolling Motors Market: Scope of the Report

The recent global electric trolling motors market report by Fact.MR offers a 10-year forecast for the period of 2020 to 2030. The report elaborates on key drivers, restraints, opportunities, and threats to the expansion of the global electric trolling motors market. A detailed segmental analysis based on motor, application, and boat has also been provided in the report.

Regional analysis in terms of supply chain, business execution, and market value provides an in-depth perspective about the future scope of the global electric trolling motors market. In addition, a separate section on the market structure has also been provided. The section provides detailed analysis of key market players and the strategies for expansion in the electric trolling motors market.

Electric Trolling Motors Market - Scope of the Report

Fact.MR recently published a market study on the global market for electric trolling motors. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the electric trolling motors market structure. The market study presents exclusive information about how the electric trolling motors market will grow during the forecast period of 2020-2030.

Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain and supply chain analyses, and compounded annual growth rate (CAGR), are explained in Fact.MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the electric trolling motors market for the forecast period.

The study is relevant for stakeholders in the electric trolling motors market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the electric trolling motors market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in this Fact.MR study for making important business decisions for the future.

The study also includes statistics as well as facts related to the macro- and micro-economic factors that are impacting developments in the electric trolling motors market. It also offers actionable insights based on future trends in the electric trolling motors market. Furthermore, small businesses and new entrants in the electric trolling motors market can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.

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

Application

Boat

Region

  • Bow Mounts
  • Salt Water
  • Bass Boats
  • North America
  • Transom Mounts
  • Fresh Water
  • Jon Boats
  • Latin America
  • Engine Mounts

 

  • Deep-V Boats
  • Europe

 

 

  • Pontoons
  • East Asia

 

 

  • Skiffs
  • South Asia & Oceania

 

 

  • Flat Boats
  • Middle East & Africa (MEA)

 

 

  • Deck Boats

 

 

 

  • Fish and Skis

 

Key Questions Answered in Fact.MR’s Electric Trolling Motors Market Report

  • Which regions will continue to remain the most profitable markets for electric trolling motors market players?
  • Which factors will induce a change in the demand for electric trolling motors during the assessment period?
  • How will changing trends impact the electric trolling motors market?
  • How can market players capture the low-hanging opportunities in the electric trolling motors market in developed regions?
  • Which companies are leading the electric trolling motors market?
  • What are the winning strategies of stakeholders in the electric trolling motors market to upscale their position in this landscape?

Electric Trolling Motors Market: Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the electric trolling motors market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the electric trolling motors market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report, as a primary resource.

1. Executive Summary

    1.1. Global Market Overview

    1.2. Global Electric Trolling Motors Market – Regional Overview

    1.3. Analysis and Recommendations by Fact.MR

2. Market Overview

    2.1. Market Introduction and Definition

    2.2. Market Coverage / Taxonomy

3. Market Risks &Trends Assessment

    3.1. COVID-19 Hotspot

    3.2. Global COVID-19 Outbreak Intensity

    3.3. Before Corona Outbreak Global GDP Scenario

    3.4. After Corona Outbreak Global GDP Predictions and Comparison Of Financial Crisis with COVID 19

    3.5. Impact of COVID-19 by Region

    3.6. Impact of Coronavirus Outbreak on Electric Trolling Motors Market 

    3.7. Anticipated Demand and Value Recovery Curve

        3.7.1. Likelihood of U-Shape Recovery

        3.7.2. Likelihood of L-Shape Recovery

4. Market Background

    4.1. Global Fishing Industry Overview

    4.2. Global Maritime Industry Outlook

    4.3. Global Fishing Boat Market Outlook

    4.4. Electric Trolling Motors: Key Buying Factors

    4.5. Electric Trolling Motors: Evolution & Transition

    4.6. Forecast Factors - Relevance & Impact

    4.7. PESTLE Analysis

    4.8. Porter’s Five Forces Analysis

    4.9. Investment Feasibility Matrix

5. Market Dynamics

        5.1.1. Market Driving Factors 

        5.1.2. Market Challenges 

        5.1.3. Market Opportunities

        5.1.4. Market Trends

6. Global Electric Trolling Motors Market – Price Point Analysis

7. Global Electric Trolling Motors Market Demand Analysis 2015-2019 and Forecast, 2020-2030

    7.1. Historical Market Value and Volume (Units) Analysis, 2015-2019

    7.2. Current and Future Market Value and Volume (Units) Projections, 2020-2030

8. Global Electric Trolling Motors Market Analysis 2015-2019 and Forecast 2020-2030, By Motor

    8.1. Introduction / Key Findings

    8.2. Historical Market Size (US$ Mn) and Volume Analysis By Motor, 2015-2019

    8.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Motor, 2020-2030

        8.3.1. Bow Mount

        8.3.2. Transom Mount

        8.3.3. Engine Mount

    8.4. Market Attractiveness Analysis By Motor

9. Global Electric Trolling Motors Market Analysis 2015-2019 and Forecast 2020-2030, by Application

    9.1. Introduction / Key Findings

    9.2. Historical Market Size (US$ Mn) and Volume Analysis By Application, 2015-2019

    9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Application, 2020-2030

        9.3.1. Salt Water

        9.3.2. Fresh Water

    9.4. Market Attractiveness Analysis By Application

10. Global Electric Trolling Motors Market Analysis 2015-2019 and Forecast 2020-2030, by Boat

    10.1. Introduction / Key Findings

    10.2. Historical Market Size (US$ Mn) and Volume Analysis By Boat, 2015-2019

    10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Boat,2020-2030

        10.3.1. Bass Boat

        10.3.2. Jon Boat

        10.3.3. Deep-V Boat

        10.3.4. Pontoon

        10.3.5. Skiffs

        10.3.6. Flat Boats

        10.3.7. Deck Boat

        10.3.8. Fish & Ski

    10.4. Market Attractiveness Analysis By Boat

11. Global Electric Trolling Motors Market Analysis 2015-2019 and Forecast 2020-2030, by Region

    11.1. Introduction

    11.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2015-2019

    11.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2020-2030

        11.3.1. North America

        11.3.2. Latin America

        11.3.3. Europe

        11.3.4. East Asia

        11.3.5. South Asia & Oceania

        11.3.6. MEA (Middle East and Africa)

    11.4. Market Attractiveness Analysis By Region

12. North America Electric Trolling Motors Market Analysis 2015-2019 and Forecast 2020-2030

    12.1. Introduction

    12.2. Historical Market Size (US$ Mn) and Volume (Units) Trend Analysis By Market Taxonomy, 2015-2019

    12.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030

        12.3.1.  By Country

            12.3.1.1. U.S.

            12.3.1.2. Canada

        12.3.2. By Motor

        12.3.3. By Application

        12.3.4. By Boat

    12.4. Market Attractiveness Analysis

        12.4.1. By Country

        12.4.2. By Motor

        12.4.3. By Application

        12.4.4. By Boat

13. Latin America Electric Trolling Motors Market Analysis 2015-2019 and Forecast 2020-2030

    13.1. Introduction

    13.2. Historical Market Size (US$ Mn) and Volume (Units) Trend Analysis By Market Taxonomy, 2015-2019

    13.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030

        13.3.1.  By Country

            13.3.1.1. Brazil

            13.3.1.2. Mexico

            13.3.1.3. Rest of Latin America

        13.3.2. By Motor

        13.3.3. By Application

        13.3.4. By Boat

    13.4. Market Attractiveness Analysis

        13.4.1. By Country

        13.4.2. By Motor

        13.4.3. By Application

        13.4.4. By Boat

14. Europe Electric Trolling Motors Market Analysis 2015-2019 and Forecast 2020-2030

    14.1. Introduction

    14.2. Historical Market Size (US$ Mn) and Volume (Units) Trend Analysis By Market Taxonomy, 2015-2019

    14.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030

        14.3.1.  By Country

            14.3.1.1.  Germany 

            14.3.1.2. Italy

            14.3.1.3. France

            14.3.1.4. UK

            14.3.1.5. Spain

            14.3.1.6. BENELUX

            14.3.1.7. Russia

            14.3.1.8. Rest of Europe  

        14.3.2. By Motor

        14.3.3. By Application

        14.3.4. By Boat

    14.4. Market Attractiveness Analysis

        14.4.1. By Country

        14.4.2. By Motor

        14.4.3. By Application

        14.4.4. By Boat

15. East Asia Electric Trolling Motors Market Analysis 2015-2019 and Forecast 2020-2030

    15.1. Introduction

    15.2. Historical Market Size (US$ Mn) and Volume (Units) Trend Analysis By Market Taxonomy, 2015-2019

    15.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030

        15.3.1. By Country

            15.3.1.1. China

            15.3.1.2. Japan

            15.3.1.3. South Korea

        15.3.2. By Motor

        15.3.3. By Application

        15.3.4. By Boat

    15.4. Market Attractiveness Analysis

        15.4.1. By Country

        15.4.2. By Motor

        15.4.3. By Application

        15.4.4. By Boat

16. South Asia & Oceania Electric Trolling Motors Market Analysis 2015-2019 and Forecast 2020-2030

    16.1. Introduction

    16.2. Historical Market Size (US$ Mn) and Volume (Units) Trend Analysis By Market Taxonomy, 2015-2019

    16.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030

        16.3.1. By Country

            16.3.1.1. India

            16.3.1.2. Thailand

            16.3.1.3. Indonesia

            16.3.1.4. Malaysia

            16.3.1.5. Australia

            16.3.1.6. Rest of South Asia& Oceania

        16.3.2. By Motor

        16.3.3. By Application

        16.3.4. By Boat

    16.4. Market Attractiveness Analysis

        16.4.1. By Country

        16.4.2. By Motor

        16.4.3. By Application

        16.4.4. By Boat

17. Middle East & Africa Electric Trolling Motors Market Analysis 2015-2019 and Forecast 2020-2030

    17.1. Introduction

    17.2. Historical Market Size (US$ Mn) and Volume (Units) Trend Analysis By Market Taxonomy, 2015-2019

    17.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030

        17.3.1.  By Country

            17.3.1.1. GCC Countries

            17.3.1.2. South Africa

            17.3.1.3. Turkey

            17.3.1.4. Rest of MEA

        17.3.2. By Motor

        17.3.3. By Application

        17.3.4. By Boat

    17.4. Market Attractiveness Analysis

        17.4.1. By Country

        17.4.2. By Motor

        17.4.3. By Application

        17.4.4. By Boat

18. Global Electric Trolling Motors Market Analysis 2015-2019 and Forecast 2020-2030, Key Country Analysis

    18.1. U.S. Electric Trolling Motors Market

        18.1.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.1.1.1. By Motor

            18.1.1.2. By Application

            18.1.1.3. By Boat

    18.2. Canada Electric Trolling Motors Market

        18.2.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.2.1.1. By Motor

            18.2.1.2. By Application

            18.2.1.3. By Boat

    18.3. Germany Electric Trolling Motors Market

        18.3.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.3.1.1. By Motor

            18.3.1.2. By Application

            18.3.1.3. By Boat

    18.4. Italy Electric Trolling Motors Market

        18.4.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.4.1.1. By Motor

            18.4.1.2. By Application

            18.4.1.3. By Boat

    18.5. France Electric Trolling Motors Market

        18.5.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.5.1.1. By Motor

            18.5.1.2. By Application

            18.5.1.3. By Boat

    18.6. Spain Electric Trolling Motors Market

        18.6.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.6.1.1. By Motor

            18.6.1.2. By Application

            18.6.1.3. By Boat

    18.7. Russia Electric Trolling Motors Market

        18.7.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.7.1.1. By Motor

            18.7.1.2. By Application

            18.7.1.3. By Boat

    18.8. China Electric Trolling Motors Market

        18.8.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.8.1.1. By Motor

            18.8.1.2. By Application

            18.8.1.3. By Boat

    18.9. Japan Electric Trolling Motors Market

        18.9.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.9.1.1. By Motor

            18.9.1.2. By Application

            18.9.1.3. By Boat

    18.10. South Korea Electric Trolling Motors Market

        18.10.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.10.1.1. By Motor

            18.10.1.2. By Application

            18.10.1.3. By Boat

    18.11. Brazil Electric Trolling Motors Market

        18.11.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.11.1.1. By Motor

            18.11.1.2. By Application

            18.11.1.3. By Boat

    18.12. Mexico Electric Trolling Motors Market

        18.12.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.12.1.1. By Motor

            18.12.1.2. By Application

            18.12.1.3. By Boat

    18.13. India Electric Trolling Motors Market

        18.13.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.13.1.1. By Motor

            18.13.1.2. By Application

            18.13.1.3. By Boat

    18.14. GCC Electric Trolling Motors Market

        18.14.1. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy

            18.14.1.1. By Motor

            18.14.1.2. By Application

            18.14.1.3. By Boat

19. Market Structure Analysis

    19.1. Market Analysis by Tier of Companies (Electric Trolling Motors)

    19.2. Global Electric Trolling Motors Market Competition - a Dashboard View

    19.3. Global Electric Trolling Motors Market Company Share Analysis

20. Company Profiles

    20.1. Minn Kota

        20.1.1. Company Overview

        20.1.2. Business overview

        20.1.3. SWOT Analysis

        20.1.4. Key Developments

    20.2. MotorGuide

        20.2.1. Company Overview

        20.2.2. Business overview

        20.2.3. SWOT Analysis

        20.2.4. Key Developments

    20.3. Garmin Ltd.

        20.3.1. Company Overview

        20.3.2. Business overview

        20.3.3. SWOT Analysis

        20.3.4. Key Developments

    20.4. Lowrance Electronics Inc.

        20.4.1. Company Overview

        20.4.2. Business overview

        20.4.3. SWOT Analysis

        20.4.4. Key Developments

    20.5. Jarvis Walker Pty, Inc.

        20.5.1. Company Overview

        20.5.2. Business overview

        20.5.3. SWOT Analysis

        20.5.4. Key Developments

    20.6. Torqeedo GmbH

        20.6.1. Company Overview

        20.6.2. Business overview

        20.6.3. SWOT Analysis

        20.6.4. Key Developments

    20.7. Newport Vessels

        20.7.1. Company Overview

        20.7.2. Business overview

        20.7.3. SWOT Analysis

    20.8. Intex Recreation Corp.

        20.8.1. Company Overview

        20.8.2. Business overview

        20.8.3. SWOT Analysis

    20.9. Rhodan Marine

        20.9.1. Company Overview

        20.9.2. Business overview

        20.9.3. SWOT Analysis

    20.10. Haswing Outdoor

        20.10.1. Company Overview

        20.10.2. Business overview

        20.10.3. SWOT Analysis

    20.11. Lankhorst Taselaar

        20.11.1. Company Overview

        20.11.2. Business overview

        20.11.3. SWOT Analysis

    20.12. MarineTech Products, Inc.

        20.12.1. Company Overview

        20.12.2. Business overview

        20.12.3. SWOT Analysis

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Electric Trolling Motors Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030