Feb 16, 2021

Rising Popularity in Sports Fishing MarketThe global sports fishing equipment market surpassed a US$ 2.5 Bn valuation in 2020, and is poised to reflect a moderate rate of growth through the forecast period (2021 and 2031). Sports fishing equipment sales are increasingly driven growing civilian interest in water sports and recreational fishing. The industry is likely to register a steady resurgence in growth in 2021 over 2020, as lockdown restrictions due to the COVID-19 pandemic are gradually being relaxed. The market outlook remains largely steady over the coming years, and is expected to register a 4.4% CAGR from 2021 to 2031.

Substantial developments have taken place in terms of technology in recent years, such as craft technology gear and catch handling practices, mechanization of propulsion, adoption of synthetic gear materials, acoustic fish detection, and even satellite-based remote sensing technologies. Further efforts have been made towards responsible fishing to ensure sustainability of fish stocks, without compromising on environmental safety, biodiversity, and energy efficiency. Consumer demand for environment-friendly fishing gear, energy conservation, and technologies to minimize by-catch of non-target species will gain importance.

Key Takeaways from Sports Fishing Equipment Market Study

• Fishing rods are likely to hold the lead during the assessment period, accounting for more than US$ 817 Mn in 2020.

• Sports organizers hold a major market share, estimated to account for more than 50% of the industry in 2021, supported by a large number of regional and international sports fishing events.

• Sales through franchised sports outlets are displaying a higher-than-average growth rate at 5% CAGR, driven by geographical brand expansion endeavors.

• Adoption of electronics and radar and sensor-based solutions is expected to display faster growth for fish school detection applications.

Regional Takeaways

• The U.S. will account for a valuation over US$ 800 Mn in 2021, with long-term growth estimates remaining positive.

• France is the largest and fastest-growing market in Europe, and accounts for around a quarter of the European industry.


• The U.K. ‘s outlook in the sports fishing equipment market is reflecting a gradual decline in share through 2031, as other European countries witness steady growth.


• China will continue to be a high potential market for sports fishing products.

“Increased participation in water-based sports and recreational activities along with growing number of fishing associations and clubs is contributing to market growth,” says an analyst.

Differentiated Offerings by Players Aiding Market Growth

The sports fishing equipment market has witnessed substantial changes in recent years, and is expected to display moderate growth during the forecast period. Companies in the industry have been focusing on the development and launch of innovative offerings with the aim of expanding and differentiating their product portfolios.

Companies such as EagleClaw Midstream Services LLC, Newell Brands Inc., Okuma Fishing Tackle Corp., Shimano Inc., and Globeride Inc. have been differentiating their offerings of fishing equipment with improvements in terms of component design and novel raw materials. Ice fishing and river angling equipment will also gain attention over the coming years.

These insights are based on a report on Sports Fishing Equipment Market by Fact.MR.

  • Prev
You work hard to run a great business and cultivate a culture of performance and customer service. ...
The next graduate in our Marine Industry Career Path series is one of Canadian Yachting Media’s ...
After a long and busy summer, Boating Ontario invites you to get away from it all and escape to ...
The 2022 NMEA Marine Electronics Conference & Expo will be the largest industry trade event in ...
The International BoatBuilders’ Exhibition and Conference (IBEX) has announced the distinguished ...
The Canadian Safe Boating Council wants to acknowledge these heroes and showcase their commitment ...
We invite you to a Taste of Expo! Our webinar will feature 3 experts giving us a short preview of ...
Boating BC is looking forward to hosting their Boating BC Conference in November. Marina Night will ...
Marine service managers face unique challenges in their day-to-day operations. They need ...
The Maritime Museum of BC, and sponsor Canoe Cove Marina and Boatyard, with support from the ...

Electric Shock Drowning - the invisible hazard in the water

VoltSafe Shore Power

Why is swimming not allowed at marinas? 

Most people assume this is to prevent swimmers from being injured or killed by boats. But there’s also another invisible hazard, electric shock.  Electric shock drowning happens when electric current leaks into a surrounding body of water and the water becomes energized. If someone enters that area of water, he or she could lose muscle control and be unable to swim to safety or call for help.

Power boats with faulty electrical wiring that are connected to shore power may cause the water to become energized.

Read More


 

Nominate Your Boating Heroes Today - CANADIAN SAFE BOATING AWARDS

 

Be #WakeAware

The Canadian Safe Boating Council wants to acknowledge these heroes and showcase their commitment to safe boating. The CANADIAN SAFE BOATING AWARDS, usually called the CASBAs, honours the people, programs, and organizations that help to make boating in Canada safer and better for all of us.

Who are these heroes?

They could be a family or individual who saves a life; a boating safety advocate, a volunteer or teacher whose passion for boating engages people and influences boating safety...

Read More


 

Changing Scene

  • Prev
On Tuesday, October 4th, Parks Canada advised that the Kirkfield Lift Lock will close for the ...
On September 22, 2022, Vision Marine Technologies, Inc. (Nasdaq: VMAR)(“Vision Marine” or the ...
Tampa, FL – The International BoatBuilders’ Exhibition and Conference (IBEX) announced today that ...
On Sept. 28, 2022, The Canada Infrastructure Bank (CIB) announced the launch of its $500 million ...
Brunswick Corporation (NYSE: BC) Boat Group President Aine Denari has been named by Boating ...
The International BoatBuilders’ Exhibition and Conference (IBEX) announced on Sunday, September ...
The global Lithium Battery manufacturer joins The Conservation Alliance to protect and preserve ...
ePropulsion, a global leader and market challenger in marine electric propulsion systems and ...
Brunswick Corporation (NYSE: BC) and its industry leading brands achieved another record showing at ...
On September 14, 2022, BRP Inc. (TSX:DOO; NASDAQ:DOOO) reported its financial results for the ...

Boating Industry Canada News Week

 

Every Tuesday we publish a fresh Digest with informative articles pertaining to the Canadian boating and marine industry. Stay up to date with the latest products, research and industry developments.

Missed an Issue of Boating Industry Canada News Week? If you're looking for a specific issue, or simply want to catch up on previous issues, check out our Boating Industry Canada News Week Archives.

Not signed up for News Week? Subscribe here

 

 

 

 

 

Launchings

  • Prev
Celebrating 50 legendary years, Blackfin Boats introduces their newest addition to the Blackfin ...
September 1st, 2022 – Elan Yacht’s sporty new performance cruiser the Elan E6 is now officially ...
Committed to promoting the finer side of life with rich and instinctive boating experiences for 50 ...
While staying true to brand values and the iconic craftsmanship that is easily recognizable, Four ...
On August 30, 2022, Lowe Boats announced the launch of the 2023 SF pontoon series boats as well as ...
Godfrey Pontoons has announced a new model for 2023 – the Mighty G. One of the latest innovations ...
This summer, there’s a new way to get to a vacationers’ paradise in the Baltic Sea: a ...
Hobie, a leading manufacturer of premium kayaks and watersport products, has launched the newest ...
MasterCraft Boat Company announces the XT22 T as the newest member of the XT family, featuring a ...
The MJM 42 is a uniquely styled Carolina Downeast cruising design. The highest evolution of a ...
 

CPS-ECP and Carefree Boat Club

The Canadian Power and Sail Squadron (CPS-ECP) has a new valued service for their members - and it is with Carefree Boat Club (CBC) in Canada.

CBC is now a proud Sponsor offering benefits for CPS-ECP members that join Carefree. One of the new member benefits includes incentives for CPS-ECP members to continue their boating education through CPS-ECP courses. CBC will offer a discount on their membership entry fee and reimburse members partially any successfully completed CPS-ECP courses moving forward. Courses are held either in class, virtual meetings or online. There is something to be said about the benefits of having your own personal teacher! 

Read More


 

 

Shurhold Snap and Zipper LubricantWords of exasperation wafting across a marina often signal a boat owner fighting with a jammed zipper or snap that won't catch. This frustrating situation is simple to avoid by using Snap Stick from Shurhold. Made in the USA, the easy-to-apply lubricant keeps marine fittings working smoothly for up to three months and reduces stress levels around the docks.

A unique, wax-like formula, Snap Stick lubricates and protects plastic and metal snaps, zippers, hinges and other small hardware from the effects of harsh marine environment exposure. Unscented, non-toxic and biodegradable, it won't harm fabrics and other boat surfaces. Non-soluble, it doesn't rinse off when exposed to rain and spray, or boat washing. 

Read More


 

People

  • Prev
Canadian Boat Shows announces that their new Show Manager for the Vancouver International Boat Show ...
As of August 2022, Boris Heitmann (58) has taken over responsibility as Vice President ...
Kim Knudsen has just joined the Quadrant team as their new Community Partnerships and Training ...
MarineMax welcomes Margriet Mitchell as the new brand marketing manager for Azimut, Cruisers ...
"Dad passed away peacefully on June 25th, at his home on Sturgeon Lake, just shy of his 92 ...
Chaparral Boats, Inc. and Robalo Boats LLC awarded $100,000 in college scholarships to ten ...
Meet Brook Butler, Quadrant Marine Institute MST instructor in Sidney. On the job, he’s a Marine ...
Mercury Marine, a division of Brunswick Corporation (NYSE: BC), has named Perissa Millender Bailey ...
MasterCraft Boat Company, a subsidiary of MasterCraft Boat Holdings Inc. (NASDAQ: MCFT), announced ...
The Boating Ontario Association is excited to announce and welcome Lesley Hough as our new ...

HanseYachts AG announces Boris Heitmann new VP Communications & Investor Relations

Richard Straka

As of August 2022, Boris Heitmann (58) has taken over responsibility as Vice President Communications & Investor Relations at HanseYachts AG.

The graduate in business administration, communications manager and yachtsman brings with him many years of experience in international companies from various sectors and as an independent entrepreneur. Heitmann started his career in 1991 at the energy company Esso.

Read More