The global fishing reels market size was US$ 232.5 million in 2021. The global fishing reels market size is estimated to reach US$ 386.1 million by 2030, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2030.
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A fishing reel is a tubular gadget attached to a fishing rod that is used in stowing lines and winding. It commonly has fittings to help to cast for accuracy and distance, as well as recovery lines. It has traditionally been used in the recreational sport of competitive casting and fishing. They are usually attached to a fishing pole, although some amazing reels with pressure sensors for quick retrieval are fitted with downrigger systems that are scaled on the gunwale or transoms of ocean-going sport boats and “deep drop” that is used for trolling.
Factors Influencing Market Growth
• The increasing consideration of the blue economy on the GDP of a country drives the overall market growth.
• The increasing participation of individuals in recreational, leisure, and hunting activities is expected to drive the overall market growth.
• The increase in the curiosity of children in fishing activities and the easy availability of fishing gear for young individuals drive the overall market growth. interest
• The irregular costs of the raw materials used for producing stainless steel are a primary element that hinders the overall market growth.
Effect of the COVID-19 Pandemic
The COVID-19 outbreak had a severe impact on the growth of the overall market in 2020. The partial or complete shutdown of production facilities, a decrease in recreational tourism because of lockdown restrictions, and supply chain disorders had a tremendous negative influence on the global market.
Regional Insights
North America had the highest growth in the overall market in 2021. The large existence of marine tourists and anglers along with the increasing number of government enterprises to facilitate the development of the blue economy due to its enormous influence on the GDP propel the overall market growth in the region.
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Leading Competitors
The prominent players in the global fishing reels market are:
• Okuma Inspired Fishing
• Bcf Australia
• Tackle World
• Shimano
• Piscifun, Rhythm
• Pure Fishing
• Daiwa Corporation
• The Orvis Company
• Abu Garcia
• Bps Direct
• Others
Segmentation Analysis
The global fishing reels market segmentation focuses on Product Type, Material, Fishing Type, Distribution Channel, and Region.
Segmentation on the basis of Product Type
• Fly Reel
• Baitcasting
• Spinning
• Spincast
• Others
Segmentation on the basis of Material
• Graphite
• Stainless Steel
• Aluminum
• Others
Segmentation on the basis of Fishing Type
• Freshwater
• Saltwater
Segmentation on the basis of Distribution Channel
• Outdoor Sport Stores
• Online Sales
• Modern Trade
• Others
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Segmentation on the basis of Region
• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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