Global Archery Equipment Market Set to Reach $5.6 Billion by 2028: A Booming Industry

Pune, April 27, 2023 (GLOBE NEWSWIRE) – The global archery equipment market is projected to grow significantly in the coming years, with its value estimated to reach a staggering $5.6 billion by 2028, as per a new research report. This growth represents a compound annual growth rate (CAGR) of 6.1% from 2022 to 2028. The report offers valuable insights into the market’s future, examining trends, opportunities, and key players in the archery equipment industry.

Archery Equipment Market

“The growth of the archery equipment market can be attributed to factors such as increasing interest in archery as a sport and leisure activity, technological advancements in equipment, and rising demand for archery equipment for hunting purposes.” – Colin Cowherd, American sports media personality

Source: Industry Research

Market Overview

The Global Archery Equipment Market research report 2023-2030 provides an in-depth analysis of the industry, focusing on its growth potential, opportunities, drivers, challenges, and barriers. The report includes information on the market’s size, value, share, and segments, as well as the major players in the industry.

Despite the negative impact of the Covid-19 pandemic on the archery equipment market, the industry expects a surge in demand post-pandemic due to rapid urbanization and the growing need for efficient use of space.

global archery equipment market report

source:factmr.com

Key Players and Market Drivers

Some of the major players in the archery equipment market include:

The research report identifies several factors that drive the growth of the global archery equipment market. These include:

  • Increasing interest in archery as a sport and leisure activity
  • Technological advancements in equipment
  • Rising demand for archery equipment for hunting purposes
  • Market Segmentation

The global archery equipment market is segmented by type, application, and region. The market is further subdivided into the following categories:

By Types:

  • Bows and Bow Accessories
  • Arrows
  • Other Archery Equipment

By Application:

  • Hunting
  • Sports
  • Others

Geographic Segments:

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Conclusion

The global archery equipment market is poised for significant growth in the coming years, with its value expected to reach an impressive $5.6 billion by 2028. This growth can be attributed to factors such as increasing interest in archery as a sport and leisure activity, technological advancements in equipment, and rising demand for archery equipment for hunting purposes. As the industry continues to expand and evolve, companies will need to stay ahead of the curve to capitalize on the lucrative opportunities presented by this market.

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