Industry Background:
A fishery is a facility that raises fish or other marine animals for agricultural purposes. Generally speaking, a fishery exists to provide human food. The equipment used in fisheries is called fishery machinery. This machinery is used to mass-produce fish for commercially selling it for profit. The machinery includes nets, weights, trawls, and straps among other things. As fishes have high nutritional value and their products have applications in a wide range of industries the demand for fisheries is increasing. Apart from this many governments are incentivizing farmers to pursue fisheries as a side source of income which is also responsible for the increased demand for fishery machinery.
According to AMA Research, the market for Fishery Machinery is expected to register a CAGR of 21.7% during the forecast period to 2030. This growth is primarily driven by Increased Demand of Fish and Fish Products
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | k Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Industrial Machinery sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Buck’s Bag Inc. (United States), Berkley Fishing (United States), Bass Pro Shops (United States), AFTCO Mfg. Co. Inc (United States), Aquasstar (India), Aqozone Industries (India) and Rootech Services (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2022,RSK, a global leader in the delivery of sustainable solutions, has announced the acquisition of the fisheries and marine environmental consultancy Brown & May Marine, a company with 35 years’ experience of providing a range of services associated with fish ecology, commercial fisheries and other marine activities for numerous national and international offshore developments.
In May 2022,China has launched the world’s first giant floating fish farm that can produce 3,700 tonnes of fish every year – an output similar to Chagan, one of the country’s largest freshwater lakes, state news agency Xinhua reported.The market is largely fragmented. There are no distinct market leaders and local firms dominate in this market. The market is focused on the countries where there is the availability of both freshwater and saltwater. Firms in this market are largely private limited companies. Offering services along with products is the key to success in this market. With the growing government incentives; the demand for fishery machinery is expected to increase.
Regulatory Insights:
National Fisheries Policy of India 2020, expects to achieve “Support through a National Policy for management, regulation, and development of resources through standards; research, extension, and training. Making easier for technology Infusion for improvement of environment and disease control, breeding, seed rearing, feed production, and culture systems.” By 2030.
Influencing Trend:
Growing Fish Production Due to Aquaculture Growth and Innovative Fishery Machinery
Market Growth Drivers:
Increased Demand of Fish and Fish Products and Growing Commercial Fishing Across the Globe
Challenges:
Complex Needs of Fisheries Which Fishery Machinery Manufacturers Have to Take into Account and Need of Maintenance Services for Some of The Fishery Machinery
Restraints:
Growing Number of Vegetarian or Vegan Population Will Hinder the Demand of Fishery Machinery
Opportunities:
Increasing Consumption of Fish in Developing Countries Will Increase the Demand of Fishery Machinery and Government Incentives for Fisheries Will Increase the Demand of Fishery Machinery
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Fishery Machinery Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Fishery Machinery Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Fishery Machinery players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Fishery Machinery Study Sheds Light on
The Fishery Machinery Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Fishery Machinery industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Fishery Machinery industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.