Pole Vault Equipment Market Expected to Reach $150.8 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Pole Vault Equipment Market," The pole vault equipment market size was valued at $112 million in 2021, and is estimated to reach $150.8 million by 2031, growing at a CAGR of 3.2% from 2022 to 2031.

The increased awareness of pole vaulting as a sport and exercise is one of the primary aspects driving the pole vault equipment industry. As more individuals show interest in the sport, there is a greater demand for long-lasting and dependable pole vault equipment. These restrictions apply to everyone who wishes to establish their own training facilities at home or in their garden, not simply athletes and sports groups. The ongoing quest for technical breakthroughs in pole vault equipment design and material choices is another important driver of the pole vault equipment market. As athletes and manufacturers continue to search for ways to improve performance and safety, there is a growing demand for new and innovative designs and materials. Manufacturers put a lot of effort into creating equipment that is lighter, stronger, and more durable in order to retain current customers who want to upgrade their equipment and draw in new ones.

One of the most significant barriers to the market for pole vault equipment is the cost of the equipment. Pole vaulting requires specialized equipment such as poles, standards, landing mats, and crossbars. This equipment may be out of reach for people who are new to the sport or on a limited budget. As a result, the possible consumer pool may be smaller, making it more difficult for distributors and manufacturers to expand.

The growing popularity of sports and fitness activities, particularly among younger generations, is one of the primary growth opportunities for the pole vault equipment market. As more individuals want to live healthier lifestyles and participate in sports, pole vault equipment market demand is growing. This includes everyone who wants to try new and difficult things in their daily lives, and not only sports teams and players. The possibility of technology and design advances in pole vaulting devices should also be considered. Manufacturers may make use of engineering, materials science, and other developments to create goods that are lighter, more robust, and easier to use. These advancements might aid manufacturers in gaining new clients and setting their products apart from the competitors. These factors are anticipated to boost the pole vault equipment market growth in the upcoming years.

The global pole vault equipment market share is segmented based on product type, buyer type, sales channel, and region. By product type, it is classified into pole vault mat, vault box, cross bars, height gauge, pole vault uprights, accessories, and others. By buyer type, it is classified into individual, promotional, and institutional. By sales channel, it is classified into sports variety stores, direct to customer channel, third party online channel, and other channels. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the pole vault equipment market analysis report include 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, and ESSX.

The report offers a comprehensive analysis of the global pole vault equipment market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of Covid-19 on the Global Pole Vault Equipment Industry

• Sales of pole vault equipment are directly proportional to the demand from sport, appliances, consumer & goods industry. However, various sectors such as consumer & goods, sports, were negatively impacted by the COVID-19 pandemic that has affected the production and demand for pole vault equipment due to disrupted supply chain.
• COVID-19 impacted almost all industries and the pole vault equipment producing companies ceased their operations owing to import-export restrictions, lockdown imposed across several countries, and shortage of labor; the fear of contracting the novel coronavirus led to sluggish demand in the market.
• Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global market.

Key Findings of the Study

• Based on product type, the pole vault mat sub-segment accounted a dominant market share in 2021 and is anticipated to be the fastest growing sub-segment during the forecast period.
• Based on buyer type, the institutional sub-segment emerged as the global leader in 2021, and the promotional sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on sales channel, the direct to customer channel sub-segment emerged as the global leader in 2021 and sports variety stores sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on region, the North America market registered the highest market share in 2021 and Asia-Pacific is predicted to be the fastest growing during the forecast period.