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The archery equipment market in Europe will post a substantial market growth over the forecast period and is envisaged to grow at a CAGR of more than 5% by 2020. The increasing instances of the Archery Trade Association (ATA) trade show is one of the key factors driving the growth of this market. The ATA is a non-profit trade organization for the promotion of archery and bow hunting. It organizes a trade show every year, which draws a large number of archery retailers, buyers, and exhibitors. Through this show, vendors get the opportunity to launch new products in the market. Factors such as the availability of the latest gear and equipment in such shows will contribute to the growth of this market in the coming years.
The increasing usage of carbon nanomaterials in the manufacture of archery equipment is an important trend spurring the prospects for market growth during the forecast period. Recently, it has been observed that carbon nanotubes are extensively being used in bows and arrows to develop better products. The bows that are manufactured using carbon nanomaterials are lighter in weight and offer advantages like improved speed, reduced friction, and enhanced durability and strength. Moreover, arrows that are made of carbon nanomaterials are stronger and can fly higher without being torqued to one side after the release from the bow. Benefits such as reduced weight, increased hardness, reduced friction, and wear resistance will necessitate the implementation of carbon nanotechnology in archery equipment in the next four years.
During 2015, the bows and bow accessories segment dominated the market and is expected to generate more than USD 896 million by 2020. These products are mandatory for archery and are relatively expensive which will drive this market segment’s growth over the predicted period.
The specialty and sports segment dominated the archery equipment market in Europe and accounted for more than 47% of the market share in terms of revenue. These large specialty and sports shops carry a wide range of popular brands of archery equipment, which will contribute to the growth of this market segment over the next four years.
The archery equipment market in Europe is highly competitive due to the presence of several well-established players. Factors such as intense competition coupled with the rapid changes in technology and consumer preferences in the market will pose significant challenges for the vendors in this market. To survive and succeed in this market, it becomes imperative for suppliers in this market to distinguish their product offerings with a clear and unique value proposition.
Top vendors in this market are -
Other prominent vendors analyzed in this market study are Alpine Archery, Bohning, Carbon Tech, Copper John, Easton Archery, Field Logic, HHA Sports, Hoyt Archery, Kinsey's Archery Products, Martin Archery, Parker Bows, and Rage Broadheads.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product type
PART 07: Market segmentation by retail formats
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Explore Technavio
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