Dublin, July 20, 2021 (GLOBE NEWSWIRE) -- The "Sports Fishing Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Sports Fishing Equipment Market to Reach $16 Billion by 2027
Amid the COVID-19 crisis, the global market for Sports Fishing Equipment estimated at US$12.6 Billion in the year 2020, is projected to reach a revised size of US$16 Billion by 2027, growing at a CAGR of 3.4% over the analysis period 2020-2027.
Rods, Reels, & Poles, one of the segments analyzed in the report, is projected to record a 3.1% CAGR and reach US$6.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lures, Flies, & Baits segment is readjusted to a revised 4.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.5 Billion, While China is Forecast to Grow at 5.9% CAGR
The Sports Fishing Equipment market in the U.S. is estimated at US$4.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2 Billion by the year 2027 trailing a CAGR of 5.9% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.8% and 2.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR.
Fishing Lines Segment to Record 4.2% CAGR
In the global Fishing Lines segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.1 Billion in the year 2020 will reach a projected size of US$1.5 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2027.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Opportunity in Disguise for Sports Equipment Providers amid COVID-19
- COVID-19 Impact on Fishing Equipment Market
- COVID-19 Pandemic Results in Scarcity of Fishing Equipment
- An Overview of Sports Fishing Equipment
- Types of Sports Fishing Equipment
- Fishing Techniques
- Sports Fishing Equipment: Meeting the Ever-Changing Needs of Recreational Fishing, the Healthful Pastime
- Myriad Health and Well-Being Benefits of Recreational Fishing Drive Widespread Adoption of Fishing Equipment
- Key Health and Well-Being Benefits of Recreational Fishing Ranked in the Order of Importance
- Global Sports Fishing Equipment Market: Overview and Outlook
- Major Technological Advances to Drive Growth
- Developed Countries Traditional Revenue Contributors, while Developing Countries Spearhead Market Growth
- Lures, Flies, & Baits: The Fastest Growing Segment
- Future Developments in Fishing Rods to Drive Segmental Growth
- Competitive Landscape: A Highly Fragmented Marketplace
- Shimano: A Dominant Force in the Fishing Gear Market
- Floating Minnow from Rapala: The Story of Invention to Commercialization
- Competition: Noteworthy Trends
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 159 Featured)
- Aftco Mfg. Co., Inc.
- Daiwa Corporation
- Eagle Claw Fishing Tackle Co.
- Eppinger Mfg. Co.
- Gamakatsu Co., Ltd.
- Grandt Industries, Inc.
- Jim Teeny, Inc.
- Koppers Fishing and Tackle Corp.
- O. Mustad & Son A.S.
- Okuma Fishing Tackle Corporation
- Plano Synergy Holdings, Inc.
- PRADCO Outdoor Brands, Inc.
- Pure Fishing, Inc.
- Rapala VMC Corporation
- Rome Specialty Company, Inc.
- Sea Master Enterprise Co., Ltd.
- Shimano, Inc.
- St. Croix of Park Falls, Ltd.
- Taylor Fly Fishing
- TICA Fishing Tackle
- Zebco Holdings, Inc.
3. MARKET TRENDS & DRIVERS
- Steady Proliferation of Connected Electronic Fishing Devices Drive Healthy Market Growth
- Select Innovative Electronic Sports Fishing-Related Products
- Fish Finders: Helpful Tools for Elevating Fishing Experience
- Fishing Cameras for Easy Underwater Viewing Using Tablets or Smartphones
- Bobbers with Integrated Intel Chip & Wireless Connectivity
- Notable Advanced Electronic Fishing Lures
- AngLR Tracker for Fishing Rod
- FishSentry Connected Fishing Rods
- PowerRay Underwater Robot
- FLIR Ocean Scout TK Night-Vision Camera
- Humminbird HELIX 10
- Individuals Account for Bigger Share
- Sports Organizers Drive Demand
- Fishing Clubs Elevate Participation Levels
- Passion for Outdoors and the Drive to Preserve Nature Steer Demand from the Millennials Population
- Global Millennial Population Facts & Figures: Important Opportunity Indicators
- Disruptive Technologies that Transformed the Sports Fishing Boats over the Years
- Focus on Developing Fishing Infrastructure Strengthens Market Prospects
- Surging Popularity of Kayak Fishing Benefits Market Expansion
- Consumer Affluence Influences Sports Fishing Equipment Sales
- Surging Interest in Fishing among Women Opens Up Growth Avenues
- Ice Fishing Gear: Equipment to Make Most of Ice Fishing Mission
- Innovations & Advancements
- 3D Printing Streamlines Fishing Equipment Manufacturing
- Advancements in Fly Fishing Reels
- Tippet Innovations Bolster Stealthiness in Fly Fishing
- Lures Mimic Sounds of Fish
- Lures with Characteristic Wobbling Action
- Airbomb: A Revolutionary Mid-Air Baiting Device
- Shimano's First-of-its-Kind Fishing Reels
- Innovative Fishing Accessories
- Other Innovative Fishing Rods, Lures and Reels
- Fishing Baits
- Fishing Reels
- Select Innovative Sports Fishing Reels
- Fishing Rods
- Select Innovative Sports Fishing Rods
- Fishing Tackle and Gear
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
- Socio-Economic Importance of Recreational Fishing to Drive Long Term Growth in Demand for Sports Fishing Equipment
- US Fishing Lines Market: Monofilament Continues to Dominate, while Braided Lines Spearhead Growth
- Fishing Equipment in the US: An Evolutionary Scan
- Growing Popularity of Kite Fishing Augurs Well for Market Demand
- Technology Advancements in Sport Fishing Boats
- Freshwater Fishing Continues to be the Most Popular Fishing Form
- Favorable Demographic Trends Strengthen Market Prospects
- Increasing Participation of Women in Sports Fishing Bodes Well for Market Demand
CANADA
- Canada: A Major Recreational Fishing Hub Continue to Witness Steady Market Growth
- British Columbia: One of the Major Sports Fishing Destinations in the Country
CHINA
- China Offers Significant Growth Opportunities
- China: A Leading Producer of Sports Fishing Equipment Worldwide
- Chinese Manufacturers Focus on Product Development and Cost Reduction
EUROPE
- Europe: Select Growth Drivers
IV. COMPETITION
- Total Companies Profiled: 159
For more information about this report visit https://www.researchandmarkets.com/r/rwe466