Outlook on the Global Sports Gun Market to 2025 – Asia-Pacific Region to Witness Fastest Growth Rate – ResearchAndMarkets.com
DUBLIN – (BUSINESS WIRE) – The report “Growth, Trends, and Forecasts of the Market for Sports Weapons (2020-2025)” has been added ResearchAndMarkets.com Offer.
The global sporting weapons market is expected to record a CAGR of 4.5% in the forecast period from 2020 to 2025.
The shooting games are becoming increasingly popular at the Olympics and Commonwealth Games, which encourages participation in the sport around the world. The upcoming 2020 Summer Olympics is expected to spur demand for sporting weapons. In addition, the increasing popularity of the sport of shooting among paralyzed individuals and the increasing encouragement to participate in Paralympic game events in recent years has resulted in further demand for sporting weapons.
One of the restraints affecting the market is the growing concern about misuse of any type of weapon, including sporting weapons, by civilians around the world, which is likely to inhibit the growth of the sporting weapon market to some extent.
Howa Machinery Ltd.
Sturm, Ruger & Co. Inc.
American Outdoor Brands Corporation
JG ANSCHUTZ GmbH & Co. KG
Sturm, Ruger & Co. Inc.
Remington Arms Company LLC.
Precihole Sports Pvt. GmbH
CARL WALTHER GMBH
Daisy outdoor products
Increasing participation in shooting sports
It is known that the increasing participation in target shooting promotes and improves physical discipline among athletes. The advantages of shooting sporting weapons, such as improving focusability, sharpening eyesight, and concentration, are increasing the demand for sporting weapons around the world. In addition to competitive sports, sporting weapons are also used for recreational hunting purposes, and paintball also supports market growth.
In various countries, intergovernmental sporting events and recreational or sport-related activities in schools and colleges will also support the growth of the sporting weapons market. For example, Khelo India, an initiative by the Indian government to instill a sports culture in the population, has increased the demand for many sports equipment, thereby benefiting the sports weapon market.
Asia-Pacific region with fastest growth rate
The North America and Europe regions contribute a large share of the sporting weapons market and these regions are seeing stable demand for sporting weapons due to their constant participation in shooting events. In the Asia-Pacific region, especially China and India, the increasing government initiative to promote the sport, including the shooting sport, is a key part of the market growth. For example, the Indian government introduced Panchyat Yuva Krida Aur Khel Abhiyan (PYKKA) to promote grassroots sports culture by providing rural sports infrastructure / equipment that will help encourage youth participation in sports increase from rural areas. However, the demand for sporting weapons in the Middle East and Africa is likely to decline due to the high manufacturing costs involved in making these products. Nevertheless, the main players see lucrative opportunities, especially in industrialized countries, which concentrate on replacing and renovating old sporting weapons with new ones.
Main topics covered:
2 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 Market drivers
4.2 Market Restrictions
4.3 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By product type
5.2 By distribution channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
5.3.1 North America
5.3.4 Rest of the world
6 COMPETITIVE LANDSCAPE
6.1 Most active companies
6.2 Most commonly adopted strategies
6.3 Market position analysis
6.4 Company profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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