Fishing Rods market is likely to witness a CAGR of 6.1% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Fishing Rods market
Fishing Rods market is likely to witness a CAGR of 6.1% during the forecast period. The prime factor that is driving the fishing rods market is rising adoption of fishing rods as a recreational activity among people of various age groups.
North America is estimated to be the largest market for fishing rods during the forecast period. Significant demand from both commercial and recreational applications is driving the growth of the region. Europe and Asia-Pacific also holds significant share of the market and are expected to witness healthy growth during the forecast period.
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Report Scope & Market Segmentation
Fishing Rods Market Share: By Product Type
Based on the product type, the market is segmented as spinning rods, fly fishing rods, casting rods, and others. The spinning rods segment dominated the market in 2019 and is expected to maintain its position during the forecast period. Spinning rods are efficient in throwing lighter lures far and are useful in windy place. Fly fishing rods are expected to witness the highest growth during the forecast period owing to their capability for casting baits in distant water.
Fishing Rods Market Share: By Application Type
Based on the application type, the market is segmented as competitive casting, recreational fishing, commercial fishing, and others. Recreational fishing accounted for the largest share of the market and is expected to remain dominant during the forecast period. Increasing preference of people towards most popular fishing destination is the major factor behind the dominance of the recreational fishing segment.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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