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    Fishing Equipment Market Report

    Fishing Equipment Market Report
    Report code - SRCG263 Delivery - 2 Weeks
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    Global Fishing Equipment Market, Trends, Dynamics and Market Analysis
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    Impact of COVID-19 on Fishing Equipment Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Fishing Equipment Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Global Fishing Equipment Market is expected to grow from USD 14.3 billion in 2020 to USD 18.2 billion by 2026 at a CAGR of over 4.2% during the forecast period.

    Figure: Global Fishing Equipment Market Size, 2020-2026 (USD Billion)

    Fishing-Equipment-Market-Forecast

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    What is Fishing Equipment?

    Fishing equipment is in high demand because of a surge in fishing activities across geographies. Some of the commonly used fishing equipment includes hooks, sinkers & floats, reels, rods, spear & gaffs, and others. The fishing hook was the most widely used fishing equipment in 2020 due to a surge in fishing activities. Fishing reels are being increasingly used in fishing. It is an essential part of fishing as is attached to a fishing rod that is used in the stowing line.

    Key Players

    Key players operating in the global Fishing Equipment Market are-

    • Rome Specialty Company, Inc. (ROSCO) (The U.S.),
    • Sea Master Enterprise Co., Ltd. (China),
    • Maver Fishing & Angling Equipment (UK),
    • Jarvis Walker Pty, Inc.  (Australia),
    • PRADCO Outdoor Brands, Inc. (The U.S.),
    • Pure Fishing, Inc (The U.S.),
    • Daiwa Corporation (The U.S.),
    • Okuma Fishing Tackle Co., Ltd (China),
    • Tica Fishing Tackle (China),
    • Orvis (The U.S.), and
    • Costa Del Mar or simply Costa (The U.S.).

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    Market Dynamics

    The global fishing equipment market is expected to register a CAGR of around 4.2% during the review period.

    • The increasing popularity of seafood is one of the key factors driving the market growth.
    • The market growth is primarily driven by increased spending on recreational activities across geographies.
    • Growing emphasis on developing technology-equipped fishing equipment is one of the prominent noticed in the global fishing equipment market.
    • Additionally, the rising number of women anglers is likely to create lucrative opportunities for the players operating in the fishing equipment market.

    Regional Trends

    The market in Europe is expected to register considerable growth during the forecast period.

    • Owing to high spending on recreational fishing particularly in the U.S. the market in North America accounted for the largest market share.
    • This market growth can be attributed to increasing popularity of recreational fishing coupled with presence of large number of lakes and rivers and long coastline.

    COVID-19 Impact on Global Fishing Equipment Market

    The spread of coronavirus affected the fishing activities due to enforcement of lockdown to curb the spread of virus. This led to travel restrictions and supply chain disruptions. Additionally, demand for fish food also declined amid covid-19 outbreak which in turn affected the fishing activities and thus, fishing equipment.

    Critical Questions Answered in the Report

    • What are the key trends in the global fishing equipment market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on global fishing equipment market?
    • What are the key strategies adopted by the major vendors to lead in the global fishing equipment market?
    • What is the market share of the top vendors?

    Target Audience

    Here is the list of the group of customers that the global fishing equipment market hopes to have the greatest opportunity to convert-

    • Fishing equipment manufacturers
    • Fishing equipment suppliers
    • Fishing equipment distributors
    • Organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The fishing equipment market is expected to grow at a CAGR of 4.2% in the foreseeable future.

    Rome Specialty Company, Inc. (ROSCO) (The U.S.), Sea Master Enterprise Co., Ltd. (China), Maver Fishing & Angling Equipment (UK), Jarvis Walker Pty, Inc. (Australia), PRADCO Outdoor Brands, Inc. (The U.S.), Pure Fishing, Inc (The U.S.), Daiwa Corporation (The U.S.), Okuma Fishing Tackle Co., Ltd (China), Tica Fishing Tackle (China), Orvis (The U.S.) and Costa Del Mar or simply Costa (The U.S.) are among the key players in the fishing equipment market.

    The fishing equipment market size is expected to reach an estimated value of USD 18.2 billion in the coming years.

    Europe is expected to register considerable growth in the fishing equipment market during the forecast period.

    The key factor driving the growth of fishing equipment market is the increasing popularity of seafood.

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