July25,2022 / IndustryNewsGlobal / --The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Fishing Equipment Market.

The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The 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.

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Segment Analysis

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 . • 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.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Fishing Equipment Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
 
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