Global Sports Fishing Equipment Market: Analysis of Key Trends and Drivers Shaping Future Growth until the End of 2022

Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth ofSports Fishing EquipmentMarket. The study is titled as “Sports Fishing Equipment Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of (). For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global sports fishing equipment market.

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Sports fishing is gaining ground and becoming popular in various regions around the world. Several fishing associations like the American Sport fishing Association are encouraging people to increase their participation in fishing by conducting various fishing programs and events. Owing to the rising popularity of fishing as a sports and as a recreational activity, a number of governments across the globe are focusing on fishing development. The key nations like the United States and United Kingdom are making efforts to increase their fishing platforms, due to which there is an improved access to water bodies to fish in and make it a popular sport. In addition, as governments around the world are focusing on issues such as habitat degradation, restoring the biodiversity of marine ecosystems and improve the aquatic systems that support recreational fishing. Due to all the above mentioned factors, the global market for sports fishing equipment is expanding at a steady pace.

North America Set to Dominate Global Sports Fishing Equipment Market

The market in North America is set to dominate the global sports fishing equipment market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America sports fishing equipment market is the most attractive market, growing at a moderate CAGR over the assessment period.

Fishing Rods Segment Poised to Touch a Value of Nearly US$ 900 Mn in 2022

As per the forecast of Fact.MR, the fishing rods segment is expected to reach a value of nearly US$ 900 Mn in the year 2022. This represents a moderate CAGR during the forecast period of 2017-2022. Fishing rods segment is expected to account for nearly one-third of the revenue share of the product type segment by the year 2017 and is expected to gain market share by the end of the year 2022.

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Individual Consumers Segment to exhibit a CAGR of 3.9% During the Assessment Period

As per the forecast of Fact.MR, the individual consumers segment is slated to touch a figure of nearly US$ 905 Mn in the year 2022. This represents a CAGR of 3.9% during the assessment period from 2017 till the year 2022. This segment is expected to lose market share by the end of the year 2022. The individual consumers segment is expected to account for nearly one-third of the revenue share of the end user segment by the year 2017.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global sports fishing equipment market through 2022, which include EagleClaw Midstream Services, LLC, Newell Brands Inc., Okuma Fishing Tackle Corporation, Shimano Inc., Aftco Mfg. Co., Inc., Globeride, Inc., O. Mustad & Son A.S., Rapala VMC Corporation and Gamakatsu.

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Sports Market Research Reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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This release was published on openPR.