As per MRFR analysis, the Electric Trolling Motor Market Size was estimated at 1.26 (USD Billion) in 2022. The Electric Trolling Motor Market Industry is expected to grow from 1.34 (USD Billion) in 2023 to 2.3 (USD Billion) by 2032. The Electric Trolling Motor Market CAGR (growth rate) is expected to be around 6.22% during the forecast period (2024 - 2032).
Electric Trolling Motor Market Trends: Advancements in battery technology, particularly Lithium-Ion batteries, have significantly enhanced the runtime and performance of electric trolling motors. This has driven the market towards more efficient and lightweight motors. The increasing popularity of recreational fishing and boating activities has fueled demand for electric trolling motors, especially among hobbyists and anglers seeking a quieter and environmentally friendly alternative to gas-powered motors. Moreover, the growing awareness of the impact of noise pollution on marine ecosystems has spurred the adoption of electric trolling motors as a more sustainable option. Additionally, technological advancements in GPS and sonar have enabled seamless integration with electric trolling motors, providing enhanced navigation and fish-finding capabilities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
One of the major drivers of the Electric Trolling Motor Market is the increasing popularity of electric boats and kayaks. Electric boats and kayaks have many benefits over traditional gasoline-powered boats and kayaks; they are less expensive to operate and maintain, are quieter, do not produce noxious fumes and can be easily maneuvered. Hence, people are increasingly adopting electric boats and kayaks, which, in turn, is driving the growth of the electric trolling motor market.In addition, several governments across the world are discouraging the use of gasoline powered boats because they are potent sources of water pollution because of the emission of volatile organic compounds and nitrogen oxides, and motors are also serious air pollutants. Hence, the number of people preferring to use these electric boats and kayaks as well as trolling motors is likely to increase over the upcoming years, making it a major driver of the Electric Trolling Motor Market.
Technological advancements and product innovations are anticipated to be some of the driving forces for the growth of the Electric Trolling Motor Market. Industry players are constantly focusing on innovating new electric trolling motors. These electric trolling motors have increased power, more life in terms of battery and are more efficient. For instance, some of the electric trolling motors available in recent times are equipped with a brushless motor.These motors have higher efficiency and a longer lifespan as compared to their counterpart brushed motors. Moreover, battery technology is also evolving, and batteries that are considered lighter and more powerful are becoming more prevalent. With the above-mentioned developments, electric trolling motors can run for an increased number of hours.
Another driving force for the global electric trolling motors market’s growth is the consumers’ increasing interest in boating in an environmentally sustainable manner. Many individuals aim to reduce their environmental footprint nowadays, and as such, there is a growing number of consumers who realize the adverse environmental effects of gasoline-propelled boats and want to replace such boats with electric trolling motors. Technically, these motors have a zero fold-emission level, which significantly reduces air and water pollution.Gasoline-propelled trolling motors are also extremely noisy and cause noise pollution in the water areas. Thus, the global electric trolling motors market is growing at an increasingly startling pace due to driving factors, such as sustainability solutions and otherwise increasing demand.
The Electric Trolling Motor Market is segmented into three propulsion types, which are shaft drive, propeller drive, pod drive. Propeller drive occupied the major share in the year 2023 and is also expected to dominate the market in the forecast period. Propeller drive is the most efficient propulsion type in terms of thrust and provides the best maneuverability throughout different types of water. The shaft drive propulsion type is expected to rise at a high CAGR as the drivers are more beneficial in terms of durability and reliability. The damage to the drivers is usually high because of underwater objects, so the shaft drives are less prone to get damaged, and the boats can also perform better in strong currents.The pod drive propulsion type is also expected to rise at a high CAGR in the coming years due to its very compact design than any other propulsion type. The pods drives are more hydrodynamic efficient and can reduce the drag to a maximum extent, allowing the boat to travel and respond better even in strong waters. The global electric trolling motors market is showing a high demand for high-performance and efficient propulsion types. The manufacturers are producing more innovative designs and technologies to fulfill the requirements up to the expectations of the boaters.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The voltage segment plays a crucial role in the Electric Trolling Motor Market with varied options available in the market catering to specific requirements. Among the different voltage types, 12V motors hold a significant market share, owing to their widespread use in smaller boats and applications where portability and cost-effectiveness are key considerations. 24V motors offer increased power and torque, making them suitable for medium-sized boats and applications requiring more thrust. The demand for 36V and 48V motors is growing rapidly as they provide even greater power and efficiency, catering to larger boats and demanding applications.The Electric Trolling Motor Market for 12V, 24V, 36V, and 48V motors is projected to witness steady growth in the coming years, driven by increasing adoption in the marine industry and growing recreational boating activities.
The Electric Trolling Motor Market revenue from Brushed motors is estimated to be around USD 1234 Million in 2023 and is projected to reach USD 1560 Million by 2032, exhibiting a CAGR of 3.1% during the forecast period. Brushed motors are less expensive than brushless motors, making them a more affordable option for budget-conscious consumers. They are also easier to maintain and repair, further contributing to their popularity. On the other hand, Brushless motors are gaining traction due to their higher energy efficiency and longer lifespan, leading to lower operating costs over time.The Electric Trolling Motor Market for Brushless motors is anticipated to grow at a CAGR of 5.4% from 2023 to 2032, reaching a value of USD 1066 Million by 2032. This growth is attributed to the increasing adoption of brushless motors in high-end trolling motors, where performance and reliability are prioritized.
The Boat Type segment plays a crucial role in the segmentation of the Electric Trolling Motor Market. Fishing Boats dominate the market, accounting for a significant share of the overall revenue. This dominance is attributed to the widespread use of electric trolling motors in fishing applications, where precise control and stealthy operation are essential. Sailboats follow closely, driven by the growing popularity of electric propulsion in the sailing community. Electric trolling motors offer a clean and silent alternative to traditional combustion engines, enhancing the sailing experience.Pontoon Boats and Kayaks also contribute to the market growth, as electric trolling motors provide convenient and efficient propulsion for recreational activities. The increasing demand for electric trolling motors in these boat types is expected to drive market growth in the coming years.
The Electric Trolling Motor Market segmentation by Control Type can be classified into Tiller and Remote. Tiller control type accounted for a larger revenue share in 2023 and is projected to maintain its dominance throughout the forecast period. Tiller control provides direct control over the motor, making it easier to maneuver the boat in tight spaces or when fishing in shallow waters. Remote control type, on the other hand, offers the convenience of controlling the motor from anywhere on the boat, allowing anglers to focus on fishing without having to constantly adjust the motor.The growing popularity of remote control systems, coupled with advancements in wireless technology, is expected to drive the growth of the Remote control type segment in the coming years. The Electric Trolling Motor Market revenue for the Tiller control type is estimated to be around USD 1.1 billion in 2023, while the Remote control type segment is projected to reach approximately USD 1.2 billion by 2032.
The Electric Trolling Motor Market is segmented into North America, Europe, APAC, South America, and MEA. North America is expected to hold the largest market share in 2023, owing to the increasing adoption of electric trolling motors for recreational fishing and boating activities. Europe is also a significant market for electric trolling motors, with demand driven by the growing popularity of inland fishing and the increasing number of boat owners. APAC is expected to witness the fastest growth over the forecast period due to the rising middle-class population and the increasing popularity of water sports and recreational activities.South America and MEA are expected to have a moderate growth rate, with demand for electric trolling motors expected to increase in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Major players in the Electric Trolling Motor Market industry are constantly striving to develop innovative products and technologies to stay ahead in the competitive landscape. Leading Electric Trolling Motor Market players are focusing on expanding their product portfolio, enhancing their distribution channels, and investing in research and development to meet the evolving needs of customers. Strategic alliances, partnerships, and collaborations are also common among Electric Trolling Motor Market players to gain a competitive edge. The Electric Trolling Motor Market development is largely driven by technological advancements, changing consumer preferences, and government regulations. To maintain a strong position in the Electric Trolling Motor Market Competitive Landscape, companies are adopting various strategies such as product differentiation, cost optimization, and customer-centric approaches.
Minn Kota is a leading player in the Electric Trolling Motor Market. The company offers a wide range of electric trolling motors, including saltwater trolling motors, freshwater trolling motors, and bow-mount trolling motors. Minn Kota's trolling motors are known for their durability, reliability, and innovative features. The company has a strong distribution network and a loyal customer base. In addition, Minn Kota offers a variety of accessories and spare parts for its trolling motors.
MotorGuide is another leading player in the Electric Trolling Motor Market. The company offers a wide range of electric trolling motors, including freshwater trolling motors, saltwater trolling motors, and bow-mount trolling motors. MotorGuide's trolling motors are known for their power, efficiency, and quiet operation. The company has a strong distribution network and a loyal customer base. In addition, MotorGuide offers a variety of accessories and spare parts for its trolling motors.
The Electric Trolling Motor Market is projected to grow significantly in the coming years, driven by increasing demand for recreational boating and fishing activities, as well as government regulations promoting the adoption of eco-friendly technologies. Technological advancements, such as the development of brushless motors and lithium-ion batteries, are also contributing to the market's growth, as they offer improved performance and longer battery life. Key players in the market are focusing on product innovation and strategic partnerships to gain a competitive edge. Recent acquisitions and mergers have further consolidated the market landscape. North America and Europe are the largest markets for electric trolling motors, while emerging regions, such as Asia-Pacific and Latin America, are expected to witness substantial growth in the future.
| Report Attribute/Metric | Details |
| Market Size 2022 | 1.26 (USD Billion) |
| Market Size 2023 | 1.34 (USD Billion) |
| Market Size 2032 | 2.3 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 6.22% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Evinrude, Vector Thrust, Haswing, Lowrance, Best Marine, OZEAS, Motortronics, ThunderVolt, NuVasive, MotorGuide, Watersnake, Newport Vessels, Garmin, Minn Kota, Humminbird |
| Segments Covered | Propulsion Type, Voltage, Motor Type, Boat Type, Control Type, Regional |
| Key Market Opportunities | 1 Growing demand for electric boats and kayaks2 Technological advancements in motor design and battery efficiency3 Increasing popularity of recreational fishing and water sports4 Environmental regulations and incentives for green boating |
| Key Market Dynamics | Increasing fishing participation, technological advancements, growing boat ownership, rising disposable income, environmental concerns |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Electric Trolling Motor Market size is projected to reach USD 2.3 billion by 2032, exhibiting a CAGR of 6.22% from 2024 to 2032.
North America is anticipated to hold the largest market share and is projected to retain its dominance throughout the forecast period.
The rising popularity of recreational fishing, growing demand for electric boats, and increasing adoption of eco-friendly technologies are key factors driving market growth.
The freshwater fishing segment is projected to experience the highest CAGR during the forecast period due to the increasing popularity of recreational fishing in freshwater bodies.
Major players in the market include Minn Kota, MotorGuide, Newport Vessels, Humminbird, and Lowrance, among others.
Advancements in battery technology, GPS integration, and wireless connectivity are expected to drive innovation and enhance the overall performance of electric trolling motors.
Growing environmental awareness and regulations promoting eco-friendly practices are expected to increase the demand for electric trolling motors as a sustainable alternative to gasoline-powered motors.
Economic fluctuations, supply chain disruptions, and competition from traditional gasoline-powered motors pose potential challenges to market growth.
The market is anticipated to maintain a steady growth trajectory over the next ten years, driven by increasing disposable income and the growing popularity of recreational fishing.
Investing in research and development, expanding product offerings, and focusing on customer experience can help businesses gain a competitive edge and succeed in this growing market.
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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