What is Global Casting Fishing Rods Market?
The Global Casting Fishing Rods Market is a comprehensive study of the global market trends and growth prospects for casting fishing rods. This market is a specialized segment of the broader fishing equipment industry, focusing specifically on rods used for casting, a popular method of fishing. The market encompasses a wide range of products, from basic rods for casual anglers to high-end, professional-grade equipment for serious enthusiasts and professional fishermen. The market's value is determined by the total revenues generated by manufacturers and distributors of these products worldwide. In 2022, the global market was valued at US$ 356.2 million, indicating a significant demand for these products. The market is expected to grow further, reaching an estimated value of US$ 473.5 million by 2029. This growth is driven by various factors, including increasing interest in recreational fishing, technological advancements in fishing equipment, and the growing popularity of sport fishing. However, the market is also faced with several challenges, such as environmental concerns and regulations, fluctuating raw material prices, and competition from other fishing methods. Despite these challenges, the market is expected to witness a steady growth rate of 4.1% during the forecast period from 2023 to 2029.
Saltwater Rods, Freshwater Rods in the Global Casting Fishing Rods Market:
The Global Casting Fishing Rods Market is divided into two main segments based on the type of water in which they are used: saltwater rods and freshwater rods. Saltwater rods are designed to withstand the corrosive effects of saltwater and are typically used for ocean fishing. They are built with materials that resist rust and corrosion, such as stainless steel and high-grade plastics. On the other hand, freshwater rods are used for fishing in lakes, rivers, and streams. They are typically lighter and more flexible than saltwater rods, allowing for more precise casting and control. Both types of rods come in a variety of lengths, weights, and designs to suit different fishing styles and species. The choice between a saltwater and a freshwater rod depends on the angler's intended fishing location and target species. For instance, a heavy-duty saltwater rod would be suitable for big game fishing in the ocean, while a lightweight freshwater rod would be ideal for trout fishing in a mountain stream. Despite their differences, both types of rods serve the same basic purpose: to cast the line and reel in the fish.
Individual, Commercial in the Global Casting Fishing Rods Market:
The Global Casting Fishing Rods Market caters to two main types of customers: individuals and commercial entities. Individual customers are typically recreational anglers who purchase casting fishing rods for personal use. They may be beginners looking for an affordable, easy-to-use rod, or experienced anglers seeking a high-performance rod for a specific type of fishing. Commercial customers, on the other hand, are businesses that purchase casting fishing rods in bulk for resale or for use in their operations. These may include fishing equipment stores, fishing charter companies, and fishing clubs. The needs and preferences of these two types of customers can vary greatly. For instance, individual customers may prioritize factors such as price, ease of use, and versatility, while commercial customers may be more concerned with durability, performance, and bulk discounts. Despite these differences, both types of customers contribute to the overall demand for casting fishing rods, driving the growth of the market.
Global Casting Fishing Rods Market Outlook:
The Global Casting Fishing Rods Market, as per the recent highlights, was valued at US$ 356.2 million in 2022. The market is projected to grow and reach a value of US$ 473.5 million by 2029. This suggests a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period of 2023-2029. The market is dominated by some key players, with Daiwa, Pure Fishing, and Shimano leading the pack. In 2019, these companies held significant shares in the market, with Daiwa at 16.52%, Pure Fishing at 13.84%, and Shimano at 10.03%. These figures indicate the competitive nature of the market, with these top players striving to maintain their positions through continuous innovation and product development.
| Report Metric | Details |
| Report Name | Casting Fishing Rods Market |
| Accounted market size in 2022 | US$ 356.2 million |
| Forecasted market size in 2029 | US$ 473.5 million |
| CAGR | 4.1% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Daiwa, Pure Fishing, Shimano, Dongmi Fishing, Weihai Guangwei Group, St. Croix Rods, Cabela's Inc., RYOBI, Eagle Claw, Okuma Fishing |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
