The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Fishing Rods market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Fishing Rods
The report offers actionable and valuable market insights of Fishing Rods. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Fishing Rods Market across various industries and regions.
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The fishing rods market size is poised to expand at a value CAGR of 4.5%, and is expected to create an absolute dollar opportunity of US$ 1.5 Bn during the forecast duration of 2020-2030. By rod type, spinning rods are foreseen to grow 1.7X than flying rods in 2020. On the other hand, casing rods will account for 18% of overall market share in 2020.
Rising participation in fishing competitions and support for recreational fishing initiatives from governments of various countries are expected to drive the expansion of the fishing rods market size over the coming years.
Development of offshore wind projects in deep water, which poses low intervention with fishing activities and recreational boating, have been enabling higher fishing performance for anglers. Rise in offshore wind farm projects will continue to benefit the sales of fishing rods.
This newly published and insightful report sheds light on Market Insights of Fishing Rods, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Fishing Rods Market.
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Key Segments of Fishing Rods Market
Fact.MR’s study on the fishing rods market offers information divided into five key segments-rod type, rod weight, flex type, sales channel, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
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The fishing rods market is highly fragmented in nature with the presence of a large number of local players. Some of the prominent players in the market are Pure Fishing Inc., Shimano Inc., Wright & McGill Co., Okuma Fishing Tackle Co. Ltd., Daiwa Corporation, Eposeidon Outdoor Adventure Ltd., Clam Corporation, TIEMCO Ltd., St. Croix Rods, and Piscifun, among others.
The fishing rods market continues to grow at a steady pace, registering low-to-moderate growth in developed markets, with a slightly better expansion in developing markets. Low-entry barriers led to an influx of startups in the fishing rods landscape, which further added to the already intense competition. While stronger distribution remains the mainstay of leading players in the fishing rods market, emerging players are focusing on maintaining long-term relationships with existing suppliers.
“The COVID-19 pandemic has hit market players and will have short-term implications on the fishing rods market. However, e-Commerce websites have gained significant popularity in offering fishing gear. Manufacturers in the fishing rods market are seeing this as a revenue growth opportunity to increase their market presence,” says a Fact.MR analyst.
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More Valuable Insights on Fishing Rods Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Fishing Rods, Sales and Demand of Fishing Rods, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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