Portland, OR, June 06, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the overall fish finders market generated $465.21 million in 2020 and is projected to reach $879.10 million by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides a detailed analysis of changing momentum of the market, major segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rising commercial and recreational fishing activities, rising consumption of fish products globally, and rising adoption of noise reduction software in fish finders are driving the growth of the global market fish finders. However, strict government policies regarding designated inshore and offshore fishing are hampering the growth of the market. On the other hand, the integration of GPS technology in fish finders and product innovations present new opportunities in the coming years.
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- Due to the implementation of the global lockdown, all stages of the fish finders supply chain and value chain have been disrupted.
- The behavior of consumers regarding the purchase of fish finders has changed, which has led to a reduction in the revenue of the fish finders market.
- However, the market has already started to recover in 2022.
The report offers a detailed segmentation of the global fish finders market on the basis of product type, application, raw material, and region.
By product type, the combined segment contributed to the greater market share in 2020, holding more than a third of the global fish finders market, and is expected to maintain its leading position throughout the forecast period. However, the networked systems segment is estimated to witness the highest CAGR of 7.8% from 2021 to 2030.
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Based on applications, the commercial fishing segment held the highest market share in terms of revenue in 2020, accounting for almost a third of the global fish finders market, and is expected to maintain its leading status during of the forecast period. However, the recreational fishing segment is expected to register the fastest CAGR of 8.3% from 2021 to 2030.
Based on region, North America contributed the highest market share in terms of revenue in 2020, accounting for more than a third of the global fish finders market, and is expected to maintain its dominance from here. 2030. However, Asia-Pacific is estimated to manifest the largest CAGR of 9.1% during the forecast period.
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Key players of the global fish finders market analyzed in the research include Brunswick Corporation, Deeper UAB, Furuno Electric Co. Ltd., Garmin Ltd., GME Holdings AE (GME Pty Ltd), Hule, Inc., Humminbird, Johnson Outdoors Inc., Lowrance, NorCross Marine Products, Inc., Samyung ENC and Teledyne Technologies Inc.
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Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.