Global Sports Fishing Equipment Market Report 2021 – ResearchAndMarkets.com – Business Wire

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DUBLIN--(BUSINESS WIRE)--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/7r3iu4

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