Electric Trolling Motor Market By Motor Type (Bow Mount, Transom Mount, Engine Mount); By Power Source (12V, 24V, 36V); By Application (Freshwater Fishing, Saltwater Fishing); By Control Type (Hand-Controlled, Foot-Controlled, Remote-Controlled (GPS, Bluetooth)); By Geography, Segment revenue estimation, Forecast, 2024-2032.

The electric trolling motor market in 2023 was worth USD 2.34 billion and is expected to be worth USD 3.87 billion by 2030, expanding at a CAGR of 6.5% during the forecast period.

 

The growth in the electric trolling motor market can be attributed to the rising urge for more sustainable and less noisy products in boating, mainly for fishing use. With a growing global emphasis on reducing carbon emissions, electric trolling motors provide a sustainable alternative to traditional fuel-based outboard motors, which helps reduce pollution in sensitive ecosystems. For instance, more than 12,000,000 registered recreational vessels were documented in the United States Coast Guard alone in 2021, underscoring the large target market with motivations to embrace green boating innovations.

 

A recent development includes the release of advanced lithium-ion battery-powered trolling motors, offering longer battery life and greater energy efficiency. Currently, players such as Minn Kota and Torqeedo are launching high-performance GPS trolling motors for angle positioning that offer accurate control to recreational fishers and reduce the environmental impact. Market drivers include this growing preference for noise-lowering, energy-saving, and environmentally friendly boating technologies.

 

The global demand for eco-friendly boating and the growing interest in recreational fishing create attractive market opportunities for electric trolling motors. In the global industry, the recreational boating market is expected to have steady growth, and the United States has over 12 million registered boats, indicating a large market for electric trolling motors. Since more countries are enforcing environmental laws regarding using gas-powered motors on lakes and rivers in some areas, the demand for electric motors is also rising.

 

A relatively innovation involves incorporating GPS features in Minn Kota trolling motors, whereby the motors are more efficient in power consumption and control. These innovations are not just aligned with the recreational fishing market, but they can also look into the opportunity of moving into new applications like personal watercraft and light marine transportation as consumer preference moves towards more environmentally friendly and less noise-polluting boats. The prospect of electric trolling motors is enabled by technological advancement, environmental conservation, and the increasing popularity of recreational boating.

 

 

Market Segmentation

By Motor Type:

• Bow Mount

• Transom Mount

• Engine Mount

 

 By Power Source:

• 12V

• 24V

• 36V

 

By Application:

• Freshwater Fishing

• Saltwater Fishing

 

By Control Type:

• Hand-Controlled

• Foot-Controlled

• Remote-Controlled (GPS, Bluetooth)

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

Segment Analysis of the Electric Trolling Motor Market

By Motor Type:

Leading Segment: Bow Mount

The bow mount segment holds the largest market share in the electric trolling motor market, accounting for around 45% of the overall market share. Bow mount trolling motors are primarily used on larger boats for their precision, power, and ability to maintain a steady position while fishing. These motors are installed at the front (bow) of the boat, offering superior maneuverability, especially in calm waters. Their popularity among enthusiasts of freshwater and saltwater fishing, especially in larger vessels, makes them the dominant segment in the market. They are also preferred for advanced fishing techniques, such as trolling in deeper water.

Fastest-Growing Segment: Transom Mount

The transom mount segment is the fastest-growing segment, with a projected CAGR of 6.5% from 2024 to 2030. These motors, mounted at the back (transom) of the boat, are ideal for smaller, more lightweight boats. The increasing adoption of smaller boats for recreational and sport fishing, particularly in freshwater settings, is driving this growth. These motors are more affordable and easier to install, making them a popular choice among budget-conscious consumers & anglers who fish in smaller, quieter bodies of water.

 

By Power Source:

Leading Segment: 12V

The 12V power source is the leading segment in the electric trolling motor market, holding the largest share at approximately 50%. This power source is widely used due to its cost-effectiveness & sufficient power for smaller boats & freshwater fishing. The popularity of 12V motors is particularly noticeable among anglers who use small to medium-sized boats. These motors are also lighter & less expensive compared to their higher voltage counterparts, making them ideal for casual or entry-level anglers.

Fastest-Growing Segment: 24V

The 24V power source segment is growing the fastest, with an annual growth rate of 7.2% expected until 2030. More people are choosing powerful motors for larger boats, especially for saltwater fishing, which is driving this rapid growth. These motors provide more power & longer battery life, making them perfect for anglers who need consistent performance in tougher water conditions. The trend of fishing in larger, deeper waters & the increase in saltwater fishing activities are boosting the use of 24V motors.

 

By Application:

Leading Segment: Freshwater Fishing

Freshwater fishing remains the leading application segment, accounting for approximately 65% of the total market share. The vast majority of electric trolling motors are used in freshwater fishing due to the popularity of recreational fishing in lakes, rivers, and ponds. The ease of use & the quiet operation of electric motors make them ideal for catching fish in freshwater environments without disturbing the surrounding ecosystem. With the increasing number of fishing enthusiasts & recreational boaters, this segment continues to hold a dominant position.

Fastest-Growing Segment: Saltwater Fishing

Saltwater fishing is the fastest-growing application segment, driven by a growing number of anglers venturing into coastal areas and offshore waters. This segment is expected to grow at a CAGR of 7.5% from 2024 to 2030. Saltwater fishing requires more powerful and durable trolling motors to withstand the harsher marine conditions, including corrosion from saltwater. Manufacturers have responded by developing saltwater-resistant motors with improved durability & enhanced performance for larger boats. As the popularity of deep-sea fishing & offshore exploration increases, the demand for electric trolling motors in this segment is rising.

 

By Control Type:

Leading Segment: Hand-Controlled

Hand-controlled electric trolling motors dominate the control type segment, accounting for about 40% of the market share. These motors are easy to use & are popular among casual anglers & boaters. The hand control system allows for smooth steering & fine adjustments, making them ideal for smaller boats or inshore fishing where precise control is necessary. The simplicity & effectiveness of hand-controlled motors have led to their widespread use, particularly in freshwater applications.

Fastest-Growing Segment: Remote-Controlled (GPS, Bluetooth) Remote-controlled trolling motors, particularly those equipped with GPS and Bluetooth technology, are the fastest-growing segment, with a CAGR of 8% from 2024 to 2030. These motors provide a better user experience, letting anglers control their boat's movement using smartphone apps or remote control devices. GPS features like anchoring & route plotting are getting more popular in both freshwater & saltwater fishing. As technology keeps advancing, more anglers are choosing these high-tech motors because they're convenient, efficient & make fishing more enjoyable.

 

By Region:

Leading Region: North America

North America holds the largest market share in the electric trolling motor market, accounting for around 55% of the total market. The U.S. leads the market, driven by the country’s high number of fishing enthusiasts, particularly in the Great Lakes, rivers & coastal areas. Additionally, the extensive network of recreational lakes and rivers in the U.S., combined with a growing preference for sustainable & quieter boating options, has led to significant demand for electric trolling motors. The increasing popularity of both freshwater & saltwater fishing further strengthens North America’s position as the leading region.

Fastest-Growing Region: Asia-Pacific

The APAC region is the fastest-growing market for electric trolling motors, with a projected CAGR of 7.8% from 2024 to 2030. The region’s rising middle class & increasing interest in recreational activities, including fishing, are contributing to the growth of this market. Countries like Australia, China & India are experiencing growth in their fishing industries, both for recreational & commercial purposes. Furthermore, the demand for eco-friendly boating solutions is rising in these countries, particularly in freshwater fishing activities. The expansion of saltwater fishing activities in coastal regions of APAC is also driving this segment's growth.

 

Key Players

• Minn Kota

• MotorGuide

• Torqeedo

• Newport Vessels

• Haswing

• Rhino Motors

• Watersnake

• Garmin

• AQUOS

• Motorguide X5

 

Electric Trolling Motor Market Report Coverage

Report Attribute	Details
Forecast Period	2024 – 2032
Market Size Value in 2023	USD 2.34 billion
Revenue Forecast in 2030	USD 3.87 billion
Overall Growth Rate	CAGR of 6.5%
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR (2024 - 2032)
Segmentation	By Motor Type, By Power Source, By Application, By Control Type, By Region
By Motor Type	Bow Mount, Transom Mount, Engine Mount
By Power Source	12V, 24V, 36V
By Application	Freshwater Fishing, Saltwater Fishing
By Control Type	Hand-Controlled, Foot-Controlled, Remote-Controlled (GPS, Bluetooth)
By Region	North America, Europe, Asia-Pacific, LAMEA
Country Scope	US, Canada, Mexico, UK, Germany, China, Japan, India, South Korea, Australia, etc.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.