Compound Bow Global Market Report 2025

The compound bow market size has grown strongly in recent years. It will grow from $1.54 billion in 2024 to $1.67 billion in 2025 at a compound annual growth rate (CAGR) of 9%. The growth in the historic period can be attributed to the increasing popularity of archery and hunting, rising disposable incomes, growing participation in outdoor recreation, expansion of archery clubs and tournaments, and increasing government support for recreational sports.

The compound bow market size is expected to see strong growth in the next few years. It will grow to $2.33 billion in 2029 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to rising participation in competitive archery, increasing demand in emerging markets, growing disposable incomes in Asia-Pacific, expanding youth engagement in outdoor sports, and rising sustainability awareness driving eco-friendly bows. Key trends in the forecast period include technological advancements in materials, innovations in smart bow systems, development of lightweight carbon-fiber designs, increased investment in R&D, and advancements in sight and stabilizer systems.

The growing participation in outdoor recreational activities is expected to drive the growth of the compound bow market in the coming years. Outdoor recreational activities include pursuits such as archery, hunting, and target shooting for fitness and leisure. Participation in these activities is rising as more individuals seek healthy, engaging, and nature-based experiences, particularly following the pandemic. Compound bows support this trend by offering precision, ease of use, and adaptability, making them suitable for both beginners and professionals involved in recreational shooting. They also enhance outdoor engagement by providing improved performance, safety, and user satisfaction. For example, in March 2025, the U.S. Fish and Wildlife Service reported that participation in archery target shooting reached 19 million Americans, within a total target-shooting population of 47 million. Therefore, the growing participation in outdoor recreational activities is driving the expansion of the compound bow market.

Key companies in the compound bow market are focusing on technological advancements such as carbon riser technology to enhance stability, vibration damping, and shooting accuracy. Carbon riser technology involves constructing the riser, the central frame connecting the limbs, from high-strength carbon fiber materials instead of traditional aluminum. For example, in January 2025, Hoyt Archery, a US-based manufacturer of premium archery equipment, launched the RX-9 Ultra, designed to address key challenges in modern bowhunting performance. The RX-9 Ultra features advanced Carbon Riser Technology for superior stability, vibration damping, and shooting accuracy. It is equipped with the fourth-generation HBX Cam System, allows ¼-inch draw length adjustments, customizable let-off settings (75%, 80%, and 85%), and precise tuning for individual shooting styles. Weighing only 4.3 pounds with a 33.5-inch axle-to-axle length, it offers enhanced balance, minimal hand shock, and a quiet shooting experience, ideal for hunters seeking speed, comfort, and precision.

In February 2023, Heritage Outdoor Group, a US-based holding company specializing in the acquisition and growth of premium outdoor brands, acquired PSE Archery for an undisclosed amount. Through this acquisition, Heritage Outdoor Group aims to strengthen its portfolio in the outdoor recreation industry and expand its product offerings in the archery equipment segment. PSE Archery is a US-based manufacturer known for high-performance compound bows and archery accessories, serving both professional archers and hunting enthusiasts with innovative design and superior craftsmanship.

Major players in the compound bow market are Alpine Archery, APA Innovations Inc., Axion Archery, Barnett Archery, Bear Archery, Bowtech Archery, Darton Archery LLC, Diamond Archery, Elite Archery, Grace Engineering Corp. (Prime Archery), Hoyt Archery, Mathews Archery Inc., Merlin Archery, New Breed Archery, Obsession Bows, Prime Archery, Quest Bowhunting, Sanlida Archery, The Bohning Company, Win & Win Archery.

North America was the largest region in the compound bow market in 2024. Asia-pacific is expected to be the fastest-growing region in the forecast period. The regions covered in compound bow report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the compound bow market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sudden escalation of U.S. tariffs and the consequent trade frictions in spring 2025 are severely impacting the recreation sector, particularly in the supply of imported sports equipment, outdoor gear, and leisure products. Manufacturers and retailers are facing higher costs for items such as bicycles, camping gear, fitness machines, and gaming consoles, much of which are sourced from overseas with limited domestic alternatives. Small businesses operating in the recreational retail space are especially affected, with some reducing inventory or increasing prices to offset margin pressure. Event organizers and recreational facilities are also facing cost hikes for imported equipment and infrastructure materials. In response, the industry is exploring alternative sourcing from tariff-free regions, increasing reliance on local suppliers, and urging policymakers to consider exemptions for non-essential but widely used recreational products.

The compound bow market research report is one of a series of new reports that provides compound bow market statistics, including compound bow industry global market size, regional shares, competitors with the compound bow market share, compound bow market segments, market trends, and opportunities, and any further data you may need to thrive in the compound bow industry. This compound bow market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A compound bow is a modern type of bow designed for shooting arrows. It features a system that reduces the effort needed to pull and hold the string, helping the archer aim more accurately and shoot with greater power. It is commonly used in archery sports and hunting.

The key types of compound bows are targeting bows, hunting bows, practice bows, and children’s bows. A targeting bow is designed for maximum accuracy in competitive settings, often featuring precise aiming sights, longer stabilizers, and smoother draw cycles. These bows are distributed through various channels, including online stores, specialty stores, sporting goods stores, and others. They are used in applications such as sports and training, and are intended for various end-users, including adults and youth.

The compound bow market consists of sales of arrows, bow sights, stabilizers, release aids, and maintenance accessories. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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