New York , Nov. 27, 2023 (GLOBE NEWSWIRE) -- The global kayak trolling motor market size is slated to expand at 4% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 9 billion by the end of 2036, up from a revenue of USD 672 million in the year 2023. The rising popularity of water sports is the major factor that is driving the market growth. Water sports are experiencing unprecedented popularity in Germany, Austria, and Switzerland. Despite the blow of by coronavirus epidemic, the sector is expanding in areas such as SUP boards, sailing, and motorized yachts. For instance, an InterBoot exhibition is about to take place from 25th to 29th september 2024.
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In total, 200 companies will be represented over six showrooms. Starting on Saturday, September 19, the trade fair gates will be open from 10 a.m. to 6 p.m. daily for nine days. Europe Marine plans to display 20 different boats on 650 square meters of stand space, a 20-square-meter increase over last year. Moreover, the low-cost entry-level brand Oyster, for which hull shells are constructed in large quantities in Poland, is also very popular. Both will be on show at Interboot, together with all other models, a total of 13.
Kayak Trolling Motor Market: Key Takeaways
- Market in Europe region to propel the highest growth
- The Saltwater segment to garner the highest growth
- Market in North America region to grow at a highest rate
Rising Demand for Fishing is to Boost the Growth of Kayak Trolling Motor Market
Fish is one of the most popular foods in the world, and it is only growing in popularity. In 2022, global fish production was around 185 million metric tonnes, up from 179 million metric tonnes in 2021. Total fisheries and aquaculture production (excluding algae4) has increased dramatically during the last seven decades, rising from 19 million tonnes to over 100 million tonnes. In addition to this, Aquaculture has risen faster than catch fisheries in the last two years, increasing its percentage of overall fisheries and aquaculture production. 51 percent (90 million tonnes) of the 178 million tonnes produced in 2020 came from capture fisheries, while 49 percent (88 million tonnes) came from aquaculture.
Kayak Trolling Motor Industry: Regional Overview
The global kayak trolling motor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Interest of People in Water Sports to Boost the Growth of the Market in Europe Region
In Europe, people usually spend their leisure time near the water bodies, for a casual walk or for playing sports. Water sports are enjoyed by around 17 million people in the United Kingdom (UK). The region with the biggest proportion of water sport activity events in the UK is the South, with around 20% of any water sport activity event taking place in the South West and nearly 20% in the South East, followed by Scotland with 11%. Moreover, recreational boating activity is enjoyed by around 4 million persons in the United Kingdom. Boating was enjoyed by approximately 22% of those who went at least six times over the year.
The Popularity of Kayaking is to Elevate Market Growth in North America
In 2021, about 19 million Americans went kayaking at least once, maintaining the sport's rise in popularity in the North American country since 2010. Kayaking involvement in the United States increased by around 87 percent during that period. In addition to this, the rising sales of kayaks is further boosting the market growth. In the United States, it is projected that over one million kayaks are sold each year. Over a million kayaks have been sold, with a threefold increase since 2014. The majority of kayaks sold are recreational kayaks. These kayaks are intended for casual, leisurely use on calm waterways such as lakes and slow-moving rivers. Touring kayaks are built for longer voyages, whereas whitewater kayaks are made for rapids and rough water.
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Kayak Trolling Motor, Segmentation by Product Type
- Bow Mount
- Transom Mount
- Engine Mount
Based on product type, the kayak trolling motor market bow mount segment is to gain the largest market share of the market by the end of 2036. Bow mount has much better control over the kayak in comparison to transom mount motor. This is due to the fact that a bow mount motor pulls the boat through the water rather than pushes it from behind, enabling the much precise control of the steering. Therefore, rising sale of kayak is expected to increase the demand for bow mount type. The global market for kayaks at roughly 5 million in 2018, with a projected increase to over USD 13 million in 2022.
Kayak Trolling Motor, Segmentation by Application
- Saltwater
- Freshwater
On the basis of application, the kayak trolling motor market saltwater segment is going to be the largest segment by the end of 2036. The growth of the segment is majorly attributed to rising motorboat sports in the saltwater. Furthermore, the freshwater segment will grow significantly over the forecast period. The growth of the segment is majorly due to the rising rafting sport in freshwater. The largest rafting spot in India hosted more than 8000 tourists and among them, 6000 solely came only for river rafting in 2021.
Kayak Trolling Motor, Segmentation by Thrust of Motors
- Less Than 30 lbs
- 30-50 lbs
- 50-70 lbs
- Above 70 lbs
A few of the well-known market leaders in the global kayak trolling motor market that are profiled by Research Nester are Johnson Outdoors Inc., Jarvis Walker Pty Ltd., Torqeedo GmbH, Seamax Marine, MotorGuide, Outsunny, Haswing USA, The Coleman Company, Inc., Newsport Vessels, and Minn Kota.
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Recent Developments in the Kayak Trolling Motor Market
- Newsport Vessel has announced the launch of new Kayak trolling motor series, it is available in two different thrust 36 LB and 55 LB. The model has 2 years warranty and 30 days guartner. The Newport Kayak Series trolling motors are designed with kayak anglers in mind, building on the tried-and-true design of the NV Series trolling motors, with a height adjustable 24-inch shaft for proper depth placement. Longer cabling allows for more flexible battery placement, making it compatible with all transom mount kayaks, canoes, and paddle boats. A smooth and efficient ride is made possible by five forward and three backward speeds.
- Aqua Bound introduced its new Aerial Paddles, which are designed for whitewater performance—a first for the renowned paddlemaker. On the grip side, whether straight or crank shaft, it's engineered to provide industry-best indexing and comfortable control. A triangle grip form that has been extended and softened aids in intuitively knowing blade position in regard to indexing.
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