- A crossbow is a ranged weapon that consists of a bow like assembly mounted horizontally on a frame. They are widely used for hunting in modern archery, competitive shooting sports, and other activities. Crossbows have undergone many changes and developments in terms of technology and design in the past few years which has increased their demand in the market.
Key Drivers of the Crossbows Market
- A major advantage of crossbows is that they are easy to use and are more powerful than regular bows. Also, with the adoption of advanced technology in the manufacturing process, crossbows are now available in different designs, offer better speed, and are also lighter in weight which has resulted in their increased demand and market growth.
- Consumer preference toward outdoor sports such as archery is growing. Also, many sports academies, private sports agencies, and governments are increasing awareness about sports among people and promoting archery, which further helps in the growth of the crossbows market.
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Factors Restraining the Crossbows Market
- Crossbows are heavier because of their material and accessories and therefore are difficult to carry around than regular bows. Also, the large size and weight of crossbows makes it difficult for hunters to reload it for a quick follow up shot. These factors negatively affect the demand for crossbows in the market.
- Further, crossbows are significantly louder to shoot than compound or regular bows. Also, the availability of counterfeit products in the market is expected to impact the demand for crossbows and hamper its market growth.
North America to Hold Leading Share of the Global Crossbows Market
- In terms of geography, the global crossbows market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Country and sub-region level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the crossbows market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The crossbows market in South America is segmented into Brazil and Rest of South America.
- North America dominated the global crossbows market in 2024, owing to the growth and popularity of archery in the region. Increase in popularity of outdoor sports is driving the crossbows market in North America, particularly in the U.S. and Canada.
- The crossbows market in North America is projected to expand at a rapid pace, followed by Asia Pacific, and Europe during the forecast period.
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Key Players Operating in the Crossbows Market
The global crossbows market is highly competitive, owing to the presence of several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to consolidate their position in the market. A few key players operating in the global crossbows market are:
- TenPoint Crossbow Technologies
- Crosman Corporation
- Parker Bows
- Poe Lang Enterprise Co., Ltd
- Bowtech
- Barnett Crossbows
- Darton Archery
- EK Archery
- Jiaozuo Sanlida Archery Equipment
- Centerpoint Corporation
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