Over the next few years, the fishing rods market is predicted to grow due to increased participation in fishing contests and government funding for recreational fishing activities in various nations.
During the projection period of 2020-2030, the fishing rods market is estimated to grow at a value CAGR of 4.5 percent, generating an absolute dollar potential of US$ 1.5 billion. Spinning rods are expected to expand 1.7 times faster than flying rods in 2020. Casing rods, on the other hand, will account for 18% of the whole market in 2020.
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Key Segments of Fishing Rods Market
Market for Fishing Rods: A Competitive Analysis
The fishing rods market is highly fragmented, with a huge number of small businesses competing. Pure Fishing Inc., Shimano Inc., Wright & McGill Co., Okuma Fishing Tackle Co. Ltd., Daiwa Corporation, Eposeidon Outdoor Adventure Ltd., Clam Corporation, TIEMCO Ltd., St. Croix Rods, and Piscifun are some of the leading competitors in the market.
The fishing rods market is still growing steadily, with low-to-moderate expansion in developed nations and slightly stronger expansion in developing areas. Low entry barriers resulted in an infusion of new businesses in the fishing rods industry, adding to the already fierce rivalry.