NEW YORK, Dec. 8, 2023 /PRNewswire/ — According to Technavio, the size of the hunting equipment market in Americas is estimated to grow by USD 733.75 million from 2022 to 2027. The market is estimated to grow at a CAGR of 1.47% during the forecast period. Moreover, the growth momentum will accelerate. The growing prominence of hunters as conservationists is a key trend in the market. Hunters contribute to funding that supports wildlife conservation through various federal and state-level programs in countries such as the US and Canada. For instance, the Duck Stamp is mandatory for waterfowl hunting in the US, and about 98% of the revenue generated from its sales is used for wildlife conservation and habitat management. Therefore, the growing prominence of hunters as conservationists will positively influence the hunting equipment market in Americas during the forecast period. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report
Technavio has announced its latest market research report titled Hunting Equipment Market in Americas 2024-2028
What’s New?
Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – buy the report!
Hunting equipment market in Americas – Segmentation assessment
Segment Overview
Technavio has segmented the market based on product (firearms, ammunition and accessories, and archery equipment and knives) and end-user (commercial and personal).
The firearms segment will account for a significant share of the market’s growth during the forecast period. Some examples of firearms used for hunting include rifles, shotguns, muzzleloaders, primitive firearms, pistols, and handguns. Hunters who use rifles and shotguns for game and bird hunting should carry equipment licenses. However, the regulations are less stringent for the use of muzzleloaders, primitive firearms, and handguns. Firearm permit holders can hunt with any legal equipment during hunting season in the US and Canada. These factors are expected to drive the growth of the firearms segment during the forecast period.
Insights on the market contribution of various segments, including historic data (2017 to 2021) and forecast market size (2023 to 2027) – Download a sample report
Hunting equipment market in Americas – Market dynamics
Key factor driving market growth
The rise in popularity of online sales is driving the hunting equipment market growth in the Americas.
Countries such as the US, Canada, and Mexico have high internet penetrations, which has led to the rapid growth of the e-commerce industry in the Americas.
Hunting equipment providers in the region offer a wide range of equipment, such as crossbows, arrows and shafts, firearms, ammunition, rifle scopes, and game calls, through their websites.
E-commerce platforms enable customers to compare product features and prices, which helps in decision-making.
The growth in logistics infrastructure in developing economies such as Mexico and Argentina will also encourage vendors to offer products online.
Therefore, the growing popularity of online sales is expected to fuel market growth during the forecast period.
Major challenges hindering the market growth
The seasonal nature of business is challenging the hunting equipment market growth in the Americas.
The revenue generated from the sales of hunting equipment in the Americas is highly dependent on the season.
For instance, in the US, Canada, and Argentina, hunting is prohibited during the closed season.
The open season for hunting depends on the breeding period of animals. For instance, in New Hampshire, the open season for wild Turkey is in May, while deer can be hunted from October to December.
Therefore, seasonal fluctuations in hunting activities are expected to hinder the growth of the market during the forecast period.
Insights on market drivers and challenges, historic period (2017 to 2021), and forecast period (2023 to 2027) – Request a sample report!
What are the key data covered in this hunting equipment market in Americas report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the hunting equipment market in Americas between 2023 and 2027
Precise estimation of the size of the hunting equipment market in Americas and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of vendors in the hunting equipment market in Americas
Gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
Related Reports:
The personal protective equipment (PPE) market size is expected to increase by USD 26.16 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.26%.
The smart personal protective equipment (PPE) market is estimated to grow at a CAGR of 17.48% between 2022 and 2027. The size of the market is forecasted to increase by USD 4,958.49 million.
TOC
Executive Summary
Market Landscape
Market Sizing
Historic Market Size
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-User
Customer Landscape
Geographic Landscape
Drivers, Challenges, and Trends
Company Landscape
Company Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio