Archery Equipment

Archery Equipment

Global Archery Equipment Market to Reach US$4.9 Billion by 2030

The global market for Archery Equipment estimated at US$3.4 Billion in the year 2023, is expected to reach US$4.9 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2023-2030. Archery Bows, one of the segments analyzed in the report, is expected to record a 5.4% CAGR and reach US$2.5 Billion by the end of the analysis period. Growth in the Archery Arrows segment is estimated at 5.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$922.8 Million While China is Forecast to Grow at 8.8% CAGR

The Archery Equipment market in the U.S. is estimated at US$922.8 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.0 Billion by the year 2030 trailing a CAGR of 8.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.2% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Archery Equipment - Key Trends and Drivers

Archery equipment has evolved significantly over the centuries, transitioning from essential hunting tools and weapons of war to sophisticated sporting gear. Modern archery equipment encompasses a wide range of products, including bows, arrows, targets, and various accessories designed to enhance performance and accuracy. Bows are typically categorized into types such as recurve, compound, and traditional longbows, each offering distinct advantages for different styles of shooting. Recurve bows, used in Olympic archery, are known for their simplicity and power, while compound bows feature a system of pulleys and cables that provide a mechanical advantage, making them popular in hunting and competitive archery. Longbows, with their historic design, appeal to traditionalists and enthusiasts of historical archery. Arrows, constructed from materials like carbon fiber, aluminum, and wood, are engineered for precision and consistency, with variations in shaft stiffness, fletching, and tips tailored to specific uses.

Technological advancements have profoundly influenced the design and manufacturing of archery equipment, leading to increased accuracy, durability, and customization. Innovations in materials science have resulted in lighter and stronger bows and arrows, enhancing performance while reducing physical strain on the archer. High-tech carbon and aluminum composites are now standard in arrow construction, providing consistent flight characteristics and improved durability. Additionally, advanced manufacturing techniques, such as CNC machining and 3D printing, allow for precise and customizable components, including arrow rests, sights, and stabilizers. Modern compound bows feature adjustable draw weights and lengths, making them versatile for different users and conditions. Electronic accessories, such as digital range finders and bow-mounted cameras, further augment the archery experience by providing real-time feedback and enhancing training capabilities.

The growth in the archery equipment market is driven by several factors. The increasing popularity of archery as a recreational activity and competitive sport has significantly boosted demand for high-quality equipment. Television and film portrayals of archery, along with high-profile competitions like the Olympics, have heightened interest and participation in the sport. The expansion of archery clubs and ranges has made the sport more accessible to a wider audience, encouraging new enthusiasts to invest in their own gear. Technological advancements that improve the functionality and user experience of archery equipment are attracting a broader range of consumers, from beginners to seasoned professionals. Additionally, the rise of e-commerce platforms has facilitated access to a diverse array of archery products, often accompanied by detailed reviews and competitive pricing, further driving market growth. These factors collectively ensure robust expansion in the archery equipment market, catering to the evolving needs and interests of archers around the world.

Select Competitors (Total 54 Featured) -

• Alpine Archery
• Bear Archery, Inc.
• Carbon Tech Arrows
• Daisy Outdoor Products
• Darton Archery LLC
• Outdoor Group LLC

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