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IMARC Group's report titled“ Archery Equipment market Report by Product (Bows and Bow Accessories, Arrows, and Others), End User (Individual Consumer, Clubs and Gaming Zones, Sports Organizers), Distribution channel (Speciality and Sports Shops, Departmental and Discount Stores, online Stores, and Others), and Region 2024-2032 “. The global archery equipment market size reached US$ 3.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/archery-equipment-market/requestsample
Factors Affecting the Growth of the Archery Equipment Industry:
Increasing Popularity of Archery as a Recreational Activity:
The rising popularity of archery as a recreational and leisure activity is impelling the market growth. This increase in interest is leading to a higher demand for archery equipment among amateurs and enthusiasts who are keen to try their hand at the sport. Recreational archery is appealing due to its accessibility and can be enjoyed by individuals of various age groups. Additionally, archery is being adopted as a social activity as many people are participating in local clubs, indoor ranges, and outdoor events. This is not only driving the sales of basic equipment like bows and arrows but also catalyzing the demand for related accessories and safety gear.
Technological Advancements in Archery Equipment:
Rising improvements in the design and manufacturing of archery equipment are bolstering the market growth. Modern bows are made using advanced materials, such as carbon fiber and composites, offering greater strength, durability, and precision compared to traditional wooden bows. In addition, advancements in arrow design, incorporating aerodynamics and material science, are greatly improving performance. These technological enhancements not only benefit professional archers but also make archery more accessible and enjoyable for beginners and amateurs. The availability of equipment with enhanced features like improved aim, stability, and user-friendly interfaces is broadening the appeal of the sports.
Inclusion of Archery in Educational and Institutional Programs:
The increasing integration of archery into educational and institutional programs is contributing to the market growth. Schools, colleges, and other educational institutions are incorporating archery into their physical education and extracurricular activities. This inclusion is not only due to the physical benefits of archery, such as improving hand-eye coordination and upper body strength, but also for increasing concentration and offering stress relief. Furthermore, archery is recognized for fostering discipline and self-improvement, appealing to educational philosophies. This is resulting in the demand for beginner-friendly, safe, and affordable archery gear as institutions invest in equipment and facilities to support these programs.
Leading Companies Operating in the Global Archery Equipment
Industry:
Bear Archery, Inc. Crossman Corporation Easton Technical Products, Inc. Gold Tip LLC Mathews Archery, Inc. New Archery Products, Inc. Precision Shooting Equipment, Inc. The Outdoor Group LLC The Bohning Company
Archery Equipment Market Report Segmentation:
By Product:
Bows and Bow Accessories Arrows Others
Bows and bow accessories exhibit a clear dominance in the market due to their fundamental role in archery, encompassing a wide range of essential equipment.
By End User:
Individual Consumer Clubs and Gaming Zones Sports Organizers
Individual consumer represent the largest segment as archery is predominantly a recreational and personal sport, with a growing number of enthusiasts engaging in it as a hobby.
By Distribution Channel:
Speciality and Sports Shops Departmental and Discount Stores Online Stores Others
Specialty and sports shops hold the biggest market share. They offer the opportunity for buyers to physically examine and try out equipment, which is vital in a skill-based sport like archery.
Regional Insights:
North America: (United States, Canada) Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America: (Brazil, Mexico, Others) Middle East and Africa
North America dominates the market, owing to its strong cultural affinity for archery, widespread participation in the sport both recreationally and competitively, and higher disposable income levels of individuals.
Global Archery Equipment Market Trends:
The growing emphasis on customization and personalization in equipment that not only meets the functional needs but also reflects the style and preferences of individuals is offering a favorable market outlook. This trend is particularly evident among younger archers and hobbyists who view their equipment as a form of self-expression. Manufacturers are also responding to this demand by offering a wider range of customizable options, such as personalized color schemes and adjustable components like grips and limbs. The availability of bespoke options is not only enhancing user experience but also encouraging brand loyalty.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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