Hunting Equipment Accessories Market size is set to grow by USD 10.00 billion from 2024-2028, Integration of smart technology to boost the market growth, Technavio

NEW YORK, May 21, 2024 /PRNewswire/ -- The global hunting equipment accessories market  size is estimated to grow by USD 10.00 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.44%  during the forecast period. 

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Key Market Trends Fueling Growth

The trend of smart technology integration in hunting gear is reshaping the hunting equipment market globally. Smart optics and rangefinders use advanced sensors for precise measurements and real-time data, enhancing hunting accuracy. Smart GPS devices enable seamless sharing of location data, promoting safety and coordination during group hunts. Additionally, these devices offer emergency response features, improving hunters' situational awareness. Smart trail cameras employ motion sensors and image recognition to provide real-time wildlife surveillance, aiding hunters in strategic decision-making. These innovations cater to the demand for data-driven hunting experiences, driving growth in the hunting equipment market.

Market Challenges

• The hunting equipment and accessories market has faced tough challenges due to strict regulations on hunting activities. These rules have caused a drop in demand for certain items like high-capacity magazines and specific types of ammo. For instance, where magazine capacity limits are in place, sales of high-capacity magazines have fallen sharply.
• This has hit manufacturers hard, reducing production and sales. Also, hunting regulations have changed how consumers behave. Many hunters have adjusted their preferences and practices because of legal restrictions, meaning they don't need certain gear anymore. For example, bans on hunting certain species or strict hunting seasons have lowered the demand for related accessories.
• Manufacturers are adapting by focusing on making products that meet these tough regulations. They're producing eco-friendly gear, non-toxic ammo, and accessories promoting ethical and sustainable hunting. This shift in product development shows the market's response to changing rules.

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Segment Overview 

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product 
• 2.1 Gun and rifles
• 2.2 Auxiliary equipment
• 2.3 Archery
• 2.4 Others
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline- The offline segment is set to grow significantly in the coming years. It includes various products and services vital to the hunting community, highlighting the importance of traditional retail stores and in-person experiences. Specialty hunting and outdoor retail stores play a key role, acting as essential hubs for hunters to get equipment and accessories.

Valued at USD 12.54 billion in 2018, this segment offers hands-on shopping, allowing customers to check products like firearms and hunting apparel before buying. Retailers like Cabela Inc in the US exemplify this. Local hunting supply stores and firearm dealerships also play a significant role, catering to hunters' specific needs and offering personalized services and expert advice. These factors drive the growth of this segment, thus boosting the market during the forecast period.

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Research Analysis

The hunting equipment accessories market offers a wide array of tools and gear to enhance outdoor experiences. From hunting knives to game calls, hunters rely on these essentials for success. 

From hunting rifles and guns to bows and arrows, the market accommodates various weapon preferences. Ammunition options abound, ensuring hunters are adequately equipped for their pursuits. Apparel such as clothing and boots offer comfort and durability in rugged environments.

For elevated vantage points, tree stands provide hunters with strategic positions. Adventure tourism enthusiasts also find appeal in these accessories for immersive outdoor experiences.

In summary, the hunting equipment accessories market caters to the diverse needs of hunters, offering essential tools for successful outings in the wilderness.

Market Research Overview

The hunting equipment accessories market offers a range of tools and gears essential for outdoor enthusiasts. From hunting optics like binoculars and riflescopes to spotting scopes, hunters rely on precise vision. Field dressing kits with gut hooks, bone saws, and skinning blades ensure efficient processing of game. Camouflage patterns and fabrics provide hunters with effective concealment.

Game calls attract targets while adhering to bag limits and licenses ensures compliance with regulations. Certifications are important for demonstrating proficiency. Technological advancements like GPS tracking devices aid in navigation and tracking game patterns and behavior. The market thrives on providing hunters with reliable, durable equipment that enhances their outdoor experience.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Product 
• Gun And Rifles
• Auxiliary Equipment
• Archery
• Others
• Geography 
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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.

Contacts

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SOURCE Technavio