LONDON--(BUSINESS WIRE)--The hunting equipment market in the Americas is expected to post a CAGR of over 1% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The rising focus on healthy lifestyles has made recreational activities such as hunting and fishing popular in the Americas, especially in the US and Canada. Moreover, the sale of hunting licenses helps generate revenue for wildlife conservation and habitat management. These factors will contribute to outdoor hunting equipment market growth in the Americas over the forecast period.
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As per Technavio, the innovation in ammunition designs, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Hunting Equipment Market in the Americas: Innovation in Ammunition Designs
Vendors are increasingly creating new and innovative ammunition designs due to rising focus on environment conservation and habitat preservation. End-users prefer lead-free ammunition over traditional lead ammunition because of its harmful impact on wildlife and the contamination of water bodies. Market vendors are also offering subsonic ammunition that leaves the firearm muzzle at speeds below the speed of sound, thereby ensuring minimal sound generation during hunting. Such innovations in ammunition designs are expected to fuel the growth of the hunting equipment market in the Americas.
“The rise in popularity of online sales of hunting equipment and the increasing growth of tourism industry are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Hunting Equipment Market in the Americas: Segmentation Analysis
This market research report segments the hunting equipment market in the Americas by product (firearms; ammunition and accessories; and archery equipment and knives) and geographical regions (US, Canada, and Rest of the Americas).
The US led the market share in 2018, followed by Canada and Rest of Americas respectively. During the forecast period, the US region is expected to maintain its dominance over the global market. This is due to the rising popularity of outdoor recreational activities and the increase in hunting equipment sales through online platforms.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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