Pole Vault Equipment Market to Reach $1,50,766.1 Thousand, Globally, by 2031 at 3.2% CAGR: Allied Market Research

The growing popularity of pole vaulting as a sport and the rising focus of people on athletic training & fitness are the factors predicted to boost the growth of the pole vault equipment market during the forecast period from 2022 to 2031. The North America region is expected to generate largest market share by 2031.

PORTLAND, Ore., May 19, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Pole Vault Equipment Market by Product Type (Pole Vault Mat, Vault Box, Cross Bars, Height Gauge, Pole Vault Uprights, Accessories and Others), by Buyer Type (Individual, Promotional and Institutional), by Sales Channel (Sports Variety Stores, Direct to Customer Channel, Third Party, Online Channel and Other Channels): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, The global pole vault equipment market was valued at $112 million in 2021, and is projected to reach $150.8 million by 2031, growing at a CAGR of 3.2% from 2022 to 2031.

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Prime Determinants of Growth

Pole vaulting is a popular sport for athletes looking to improve their overall fitness and athletic performance since it requires a high level of talent, strength, and coordination. As a result, there is a greater demand for specialized training techniques and instruments, such as pole vault equipment. The pole vault equipment market is quickly expanding due to the growing emphasis on health & fitness and sports. The increasing demand for high-quality pole vault equipment in the sports sector and the growing popularity of pole vaulting across the globe are the major factors expected to drive the growth of the pole vault equipment market during the forecast period. Besides, the involvement of major sports brands in pole vaulting, such as endorsements and sponsorships are predicted to create massive growth opportunities for the pole vault equipment market over the forecast period.

Report coverage & details:

Covid-19 Scenario

• The COVID-19 pandemic has had a negative impact on the global pole vault equipment market owing to the lockdowns and restrictions on public gatherings and sports events. This led to the cancellation or postponement of many sporting events, including pole vaulting competitions.
• The pandemic also impacted the financial stability of many sports clubs and organizations, who were forced to cut back on their spending, resulting in a decrease in demand for pole vault equipment.
• Manufacturers and distributors faced supply chain disruptions due to factory closures and transport restrictions, which led to delays in production and delivery of equipment. This created a backlog of orders and led to higher shipping costs and longer lead times for customers. These factors have affected the growth of the pole vault equipment market during the COVID-19 catastrophe.

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Pole Vault Mat Sub-segment to Maintain its Leadership Status Throughout the Forecast Period

Based on product type, the pole vault mat sub-segment held the major market share in 2021 as it is a significant component of the pole vault equipment industry. This segment is projected to manifest the highest CAGR of 4.1% from 2022 to 2031. The ongoing demand for increased safety in the sport of pole vaulting and the growing popularity of the sport among athletes and enthusiasts are the factors expected to drive the growth of the pole vault mat sub-segment during the forecast period.

Institutional Sub-segment to be at the Leading Position by 2031

Based on buyer type, the institutional sub-segment held the highest market share in 2021 and is estimated to maintain its leadership status throughout the forecast period. Pole vault equipment used at educational institutions, such as schools, colleges, and universities are referred to as the institutional portion of the pole vault equipment market. As institutions invest in high-quality pole vault equipment to support their athletic programmers and create safe and effective training settings for their athletes, the institutional sub-segment of the pole vault equipment market is predicted to witness significant growth by 2031.

Direct to Customer Channel Sub-segment to Generate Largest Revenue by 2031

Based on sales channel, the direct to customer channel sub-segment of the pole vault equipment market accounted for the largest market share in 2021 mainly because customers frequently can avail more customization options for their pole vault equipment through direct-to-consumer (D2C) channels. By selling directly to consumers, equipment makers are able to interact with and forge closer bonds with their clientele. On the other hand, the sports variety stores sub-segment segment is expected to portray the highest CAGR of 3.9% from 2022 to 2031. This is mainly because sports variety stores specialize in selling a wide range of high-quality pole vault equipment.

North America Region to Lead in Terms of Revenue by 2031

Based on region, North America held the highest share in the global pole vault equipment market in terms of revenue in 2021 and is likely to dominate the market during the forecast period. The North America region is expected to grow at the second highest CAGR of 3.1% after the Asia-Pacific region. The augmenting growth of the North America region can be attributed to the growing interest of people in pole vaulting as a sport, the substantial investment made in sports facilities, and the existence of reputable manufacturers and suppliers. The US is responsible for an important portion of the market demand for pole vault equipment in the region of North America. The increasing popularity of pole vaulting at the secondary school level and the large number of educational institutions with well-established athletic programs are other factors predicted to boost the growth of the pole vault equipment market in the region.

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Leading Market Players:

• Gill Athletics
• BSN Sports LLC
• aluminum athletic equipment co.
• Nordic Sport AB
• United Canvas & Sling Incorporated
• Altius Poles
• Dimasport SA
• Blazer Athletic Equipment
• A.R.H Sports Equipment Ltd
• ESSX

The report provides a detailed analysis of these key players in the global pole vault equipment market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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