North America Fish Finders Market Expected to Reach $ 314.9 Million by 2032-Allied Market Research

According to a New Report Published by Allied Market Research, titled, “North America Fish Finders Market Product Type, Equipment Type, and Application: Opportunity Analysis and Industry Forecast, 2024-2032,”The The North America fish finders market was valued at $194.2 million in 2023, and is projected to reach $314.9 million by 2032, registering a CAGR of 5.4% from 2024 to 2032.

Fish finder is used in the fishing industry for commercial fishing and recreational fishing purposes. A fish finder helps the user to detect a fish school and provides the user different underwater information, such as water depth, distribution of fish school, and the condition of the seabed by transmitting ultrasonic waves into the sea and receiving its reflection back to the receiving circuit on the boat. A part of sonic or ultrasonic waves, which have been transmitted, reflect to the source when they hit an object (e.g., fish school or seabed). A fish finder uses this ultrasonic reflection characteristic, and it is called Sound Navigation Ranging (SONAR). In addition, recent interactive displays show depth, fish school, seabed, and other information in different colors, which allows user to identify the contour structure beneath the boat.

Furthermore, increase in global level competitions where high precision tools, rods, reels, chartplotters, autopilot motors and waterproof rotors are required will help propel the growth of the global fish finders market. However, intense competition, owing to surge in penetration of IoT devices, high manufacturing cost of radars, sonar, and high precision interactive displays act as the key deterrent factors of the global market. In addition, government policies on designated on-shore and off-shore fishing will be a key factor to maintain the biodiversity of near-extinct fishes. On the contrary, a fish finder is used in research-based geological studies to check the different terrains of contours using a C-map, which comes with a networked system.

Country wise, the fish finders market trends have been analyzed across the U.S., Canada, and Mexico. U.S. accounted for a significant share of the market in 2023 and is expected to garner significant revenue during the forecast period. This is attributed to high adoption of technologically advanced fish finders along with significant presence of major regulatory bodies, companies, and research institutes in the region.

By product type, the combined segment held a major revenue share in 2023, and the network system segment is expected to grow with a higher CAGR during the forecast period. Furthermore, on the basis of equipment type, the fixed segment held a higher revenue share as compared to the portable segment.

Moreover, the report is categorized based on the application of fish finders in different sectors including recreational fishing, commercial fishing, and professional fishing. Out of all these applications, commercial fishing held a major revenue share in 2023, and recreational fishing is expected to grow with a higher CAGR during the forecast period.

The key players profiled in the report include Brunswick Corporation (Simrad, Lowrance), Deeper Uab, Furuno Electric Co. Ltd., Garmin Ltd., Johnson Outdoors (Humminbird), Teledyne Flir (Raymarine), Vexilar Inc., Nantong Saiyang Electronics Co.,Ltd, Honda Electronics Co.,Ltd., And Norcross Marine Products, Inc. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to strengthen their foothold in the fish finders market.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging Industrial packaging market trends and dynamics. 
• Depending on product, the combined segment held the largest market share in terms of revenue in 2023.
• By equipment type, the fixed segment accounted for the highest market share in 2023.
• By application, in 2023, the commercial fishing segment held the largest market share in terms of revenue. On the other hand, recreational fishing segment is anticipated to grow with a higher CAGR during the forecast period.
• Mexico is projected to register the highest growth rate in the coming years.
• The key players within the Industrial packaging market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the Industrial packaging industry.
• The report provides an extensive analysis of the current trends and emerging opportunities in the market. 
• In-depth Industrial packaging market analysis is conducted by constructing estimations for the key segments between 2024 and 2032.