Global Sport Fishing Equipment Market 2020-2024 | innovations in sport fishing equipment to drive growth | Technavio
LONDON–(COMMERCIAL THREAD) – The global sport fishing market is expected to grow at nearly 4% CAGR during the period 2020-2024, according to Technavio’s latest market research report. Request a free sample report
Recreational fishing is one of the most popular outdoor activities in coastal areas of many countries. For example, in the United States, recreational fishing is the second most popular outdoor recreational activity after jogging. Recreational fishing also has the potential to boost countries’ economic growth. Several countries in the Mediterranean region are promoting fishing tourism to cope with the short-term losses of marine protected areas and to provide an alternative source of income. These factors create opportunities for the vendors to sell their sport fishing equipment thereby boosting the market growth.
To learn more about global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40026
According to Technavio, innovations in sport fishing equipment will positively impact the market and contribute to its growth significantly during the forecast period. This research report also analyzes other important market trends and drivers that will affect the growth of the market during the period 2020-2024.
Global sport fishing equipment market: innovations in sport fishing equipment
The vendors focus on the development of integrated sport fishing equipment with innovative features. For example, several vendors offer fishing rods with an elongated tip to make it easy for anglers to catch hard-hitting fish. Other vendors offer fishing gear with sensors that can be connected to a smartphone to track activities and locate fishing hot spots. The introduction of these innovative products prompts consumers to spend more on sport fishing equipment. This will drive the sales and boost the growth of the global sport fishing equipment market during the forecast period.
“Besides innovations in sport fishing equipment, increasing market initiatives and expansion of product portfolio by suppliers are other major factors that will drive the market growth during the forecast period”, said a senior analyst at Technavio.
Sign up for a free trial today and get instant access to over 10,000 market research reports.
Technavio SUBSCRIPTION platform
Global Sport Fishing Equipment Market: Segmentation Analysis
This market report segments the global sport fishing equipment market by product (fishing rods, fishing reels, fishing lures and others), distribution channel (specialty and sports stores, department stores and discount stores, online and others) and geography (APAC, Europe, MEA, North America North and South America).
The North America region dominated the market in 2019, followed by Europe, APAC, South America and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance in the global market. This is due to the great availability of innovative sport fishing equipment in the region.
Technavio sample reports are free and contain several report sections such as market size and forecast, drivers, challenges, trends, etc.
Request a free sample report
Some of the main topics covered in the report include:
Market segmentation analysis
Market size and forecast
Five forces analysis
Main leading countries
Positioning of sellers in the market
Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialist analysts, Technavio’s report library consists of over 10,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.