Adoption of new fishing techniques and introduction of new products such as corrosion-free or those less susceptible to corrosion are expected to boost the growth of the global fishing rods market. Increasing involvement in recreational activities such as fishing could drive the sales of fishing rods. Growing popularity of prestigious fishing tournaments such as Bassmaster Classic is also anticipated to increase the demand for fishing rods.

Promotional and social activities such as donation of fishing equipment to charities are predicted to increase interest in the global market. In June 2019, American outdoor recreation merchandise retailers Bass Pro Shops and Cabela collaborated to donate around 55,000 fishing rods and reels to charities and children across the US. The demand to exclude sportfishing equipment from proposed tariffs on Chinese imports in the US is foreseen to create favorable business situations in the American market. In June 2019, the American Sportfishing Association expressed its views before the US Trade Commission to exclude sportfishing equipment from a future round of tariffs.

High Interest in Wind Turbine Projects to Positively Impact Global Market

One of the most unusual and unique drivers of the global fishing rods market is the development of offshore wind farms as they could form artificial reefs in deep waters over the course of time. Artificial reefs formed at the base of wind turbines because of the placement of rock armor to prevent erosion can attract fishes or encourage their colonization. This could make it easy for anglers to fish or ensure big catches near offshore wind farms, thus increasing the demand for fishing rods.

Growing enthusiasm of fishers, rising participation levels in fishing, and government support for recreational fishing initiatives could be other important factors auguring well for the global fishing rods market. Increase in the sales of fishing boats is also anticipated to work in the favor of fishing rods manufacturing companies.

QY Research | www.qyrconsulting.com