Increase in the global level competitions where there is a requirement of high precision tools, rods, reels, chart plotters, autopilot motors and waterproof rotors propel the growth of the global fish finders market. The COVID-19 pandemic had a negative impact on the growth of the market, owing to implementation of the global lockdown that resulted to closure of yatch production. Based on region, North America held the largest share in 2021, contributing to more than one-third of the total market share.
Portland, OR, Aug. 08, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global fish finders market garnered $503.8 million in 2021, and is estimated to generate $958.4 million by 2031, manifesting a CAGR of 6.8% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage & Details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Product Type, Equipment Type, Application, and Region.
Increase in global level competitions where high precision tools, rods, reels, chart plotters, autopilot motors and waterproof rotors are needed.
Supportive government policies on designated on-shore and off-shore fishing
Surge in penetration of IoT devices
High precision interactive displays
High manufacturing cost of radars & sonar
The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global fish finders market, owing to implementation of the global lockdown that resulted to temporary closure of yatch production.
Stringent lockdowns and ban on import & export activities led to sudden decline in availability of essential raw materials for vehicle components, which, in turn, hampered the yatch production and sales in 2020. This factor directly affected the global fish finder market.
In order to prevent the spread of COVID-19 virus, governments across all nations made social distancing mandatory. This led to shortage of labor, thereby hindering the market growth.
Nevertheless, with the increase in vehicle commutation in 2022, the market is recovering steadily in the post-pandemic.
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The research provides detailed segmentation of the global fish finders market based on product type, equipment type, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on product type, the combined segment held the highest share in 2021, accounting for more than one-third of the global fish finders market, and is expected to continue its leadership status during the forecast period. However, the networked system segment is expected to register the highest CAGR of 7.7% from 2022 to 2031.
Based on equipment type, the portable segment accounted for the highest share in 2021, contributing to more than half of the global fish finders market. However, the fixed segment is expected to maintain its lead in terms of revenue during the forecast period. Moreover, this segment is expected to manifest the highest CAGR of 7.4% from 2022 to 2031.
Based on application, the commercial fishing segment accounted for the highest share in 2021, holding nearly one-thirds of the global market. However, the recreational fishing segment is expected to continue its leadership status during the forecast period. In addition, this segment is estimated to grow at the highest CAGR of 8.1% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to more than one-third of the total market share. The Asia-Pacific region is projected to maintain its dominant share in terms of revenue in 2031. In addition, this region is expected to manifest the fastest CAGR of 9.1% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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Leading market players of the global fish finders market analyzed in the research include Brunswick Corporation, Deeper UAB, Furuno Electric Co. Ltd., Garmin Ltd., GME Pty Ltd, Simrad, Humminbird, Johnson Outdoors Inc., Lowrance, NorCross Marine Products, Inc., Samyung ENC. and Teledyne Technologies Inc. The report provides a detailed analysis of these key players of the market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
This study comprises analytical depiction of the fish finders market size along with the current trends and future estimations to depict the fish finders market opportunity.
The overall fish finders market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and fish finders market opportunities with a detailed impact analysis.
The current fish finders market forecast is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the fish finders market outlook.
The report includes the market share of key vendors and fish finders market trends.
Key Market Segments
Rest of Europe
Rest of Asia-Pacific
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below is the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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