Press release
Fishing Reel Market Projected to Augment at a Notable CAGR during the Forecast Period until 2028
Introduction of new technologies allows anglers to use fishing reels at a variety of water depths by increasing movement and using a different angling style. The growth in the fishing reels industry is rising due to the increasing expenses by companies to provide equipment for fishing. The rapid increase in the number of fishing anglers has in turn escalated the demand for fishing reels, thus encouraging the expansion of the market.
Development of fishing reels has increased the use of different types of fishing reels depending on the activities. There is an increase in the adoption of fishing reels over other models due to its multiple application i.e. it can be used in both saltwater and freshwater. Fishing reels continue to observe a rise in saltwater applications. However, freshwater fishing also has a growth in some of the regions.
Fishing reel, a cylindrical device used for winding and packing line in a fishing rod, is mounted on boat gunwales through the attached fishing rod. Fishing reels are used in the sport of angling and casting. When looking for a fishing reel, it is essential to know about the type of fishing, experience level and size of the fish.
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The sales of fishing reels have been affected by the saltwater and freshwater fishing activities, and demands for high strength and corrosive resistant fishing reels, which makes fishing convenient.
Fishing reels should be easy to cast, handle heavier fishing line, work-well with light line and lure strong drag system. Freshwater fishing reels are designed for fishing in lakes, rivers and streams. Saltwater fishing reels are designed for fishing in bays and oceans. However, spending on fishing reels is less as compared to the others.
Fishing Reel Market Dynamics
Growth in the designs of fishing tools has been observed, which is working towards in obtaining better results. Another improvement is focused on improving the product by introducing new features.
An increase in fishing activities as their vacation theme is also the major factor that is fuelling the demand of the fishing tools market.
Driven by various factors, such as commercialization and for enhancing the trading sector the fishing reels market is set to experience a favorable growth in near future.
Increase in demand for consumer goods is also estimated to increase the fishing reels market globally.
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Fishing Reel Market Regional Overview
Fishing reels are used and manufactured primarily in China. In the past year, China has been the largest exporter of fish products and the sixth largest importer of fish and fish products.
Fly fishing is popular in Europe and the USA. Europe has a market share of approximately 34.39% while the USA has a market share of approximately 27.56%.
APAC market share was near about 27.35% in 2012, but it sells lower price products and has a market share of 22.44%.
The global market for fly fishing reel is expected to rise at a CAGR of approx. 0.7% in the next few years, and is likely to reach 110 million US$.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
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Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
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