Sports Fishing Equipment Market Forecast, Increasing Demand with Leading Players to 2022
The Fact.MR report on the global sports fishing equipment market forecasts that the global sports fishing equipment market will touch a value of nearly US$ 2,840 Mn in the year 2022 and grow at a moderate CAGR during the assessment period.
Sports fishing equipment like rods, reels, hooks, baits, lures, lines, sinkers etc. are used to aid in the process of fishing. Such kind of equipment is used for recreational fishing and it may be different from the equipment used for commercial fishing.
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.
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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.
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.
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