NEW YORK, Oct. 30, 2023 /PRNewswire/ — The fishing reels market is estimated to grow by USD 1.5 billion from 2023 to 2028, growing at a CAGR of 4.81%. The fishing reels market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer fishing reels market are BPS Direct LLC, Cixi Dongshang Fishing Tackle Co. Ltd., Eposeidon Outdoor Adventure Inc., Globeride Inc., Jiu Yu Fishing Tackle Co. Ltd., L.L. Bean Inc., Nanjing Honor Fishing Gear Ltd., Newell Brands Inc., NINGBO ETDZ HOLDINGS LTD., NingBo HaiBao fishing tackle co. Ltd., OKUMA FISHING TACKLE Co. Ltd., Pure Fishing Inc., Rather Outdoors Corp., Rhythm Inc., SHIMANO INC., Super Retail Group Ltd., SureCatch World Pte Ltd., The Orvis Co. Inc., TICA FISHING TACKLE, and Weihai Ecooda Outdoor Products Co. Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying
Technavio has announced its latest market research report titled Global Fishing Reels Market 2024-2028
Company Offering:
BPS Direct LLC: The company offers fishing reels such as baitcast, spinning and spincast reels.
For details on companies and their offerings – Buy the report!
By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America will have the largest share of the market.
North America accounts for 31% of the growth of the global market during the forecast period. North America has a wider range of products and a strong angling culture in the fishing reels market. In addition, the market in the region is fuelled by technical advancements such as the introduction of precise gears and long-lasting materials, including carbon fiber. Furthermore, the region is a significant combination of tradition and innovation, responding to anglers’ different requirements. Hence, such factors drive the market growth in the region during the forecast period.
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Impactful driver- Recreational fishing gaining traction
Key Trend – Rising demand for smart fishing reels
Major Challenges – Overfishing concerns with fishing
Market Segmentation
The market growth by the spinning reel segment is significant during the forecast period. This segment distinguished by its various and user-friendly designs, is an effective product in the global fishing reel market. In addition, this segment is popular as they are simple to use, making them suitable for both novice and experienced fishermen. Furthermore, several companies such as the Shimano, Daiwa, and Penn offer a varied assortment of spinning reels adapted to different fishing methods, including freshwater and saltwater applications. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Technavio Research experts have provided more insights on the market share of segments – View Sample Report
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Fishing Reels Market Scope |
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Report Coverage |
Details |
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Historic period |
2018-2022 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.81% |
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YoY growth 2022-2023 (%) |
4.48 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Key countries |
US, China, India, Japan, and Germany |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact US:
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SOURCE Technavio
