Pole Vault Equipment Market Size Projected to Generate a Revenue of $1,50,766.1 Thousand by 2031Download Sample Reports Overview
The Global Pole Vault Equipment Market Size is predicted to be valued at $1,50,766.1 thousand by 2031, surging from $1,11,961.0 thousand in 2021, at a noteworthy CAGR of 3.2%.
Impact Analysis of COVID-19 on the Pole Vault Equipment Market
The COVID-19 impact on pole vault equipment has had a significant effect on the market for pole vault equipment. Several athletic contests, such as pole-vaulting tournaments, have had to be cancelled or postponed as a result of the pandemic's impact of the sports industry. As a result, competitors and sporting organizations have made less purchases of equipment, which has decreased the popularity of pole vault equipment. In addition, the pandemic has also disrupted global supply chains, resulting in delays and shortages of materials and components needed to manufacture pole vault equipment. This has led to production and delivery delays, further impacting the market. Nevertheless, a resurgence is anticipated in the pole vault equipment market growth as the globe progressively returns from the pandemic. The market for pole vault equipment is likely to grow as athletic events resume and fitness centers and athletic venues return to business. As individuals look for ways to remain active and in good health in the years following a pandemic, manufacturers and retailers can benefit from the rising interest in sports and fitness. The pandemic-related closure of gyms and sporting venues has also had a detrimental effect on the pole vault equipment market demand. Many athletes were forced to practice at home with subpar equipment since they had restricted access to training facilities. Due to this, there was less need for specialty pole vault gear, like landing mats and poles. In addition, the pandemic's economic effects have decreased the purchasing power of athletes, schools, and sports organizations, which has resulted in less money being spent on sporting goods.
Global Pole Vault Equipment Market Analysis
Customization of equipment is an important opportunity in the pole vault equipment market. By offering customization options, manufacturers and retailers can provide athletes with gear that is tailored to their specific needs and preferences, which can help to improve their performance and satisfaction with the product. There is a growing focus on sports and fitness around the world, with people becoming more health-conscious and seeking ways to stay active. This has led to increased demand for sports equipment, including pole vault equipment.
Pole vaulting is an inherently risky sport, and there is always a risk of injury when using this equipment. Athletes need to be properly trained and supervised to reduce the risk of accidents, and equipment needs to be regularly inspected to ensure that it is in good condition and functioning properly. The biggest danger in pole vaulting is falling from a considerable height. The right landing and rolling mechanics must be taught to athletes. When using a pole, it may break, which could seriously hurt the athlete. If a piece of equipment is not properly maintained, it may malfunction or fail. These factors deter the athletes from opting for the sport in turn impacting the market growth.
The opportunity to develop new materials is a significant driver in the pole vault equipment market. Innovations in materials science can help manufacturers create stronger, lighter, and more durable equipment, which can enhance the performance of athletes and increase safety. For example, manufacturers could explore new composite materials or coatings that could improve the strength, flexibility, or durability of poles or mats. Another area of innovation in pole vault equipment materials is the use of advanced foams and padding in landing mats. These materials can absorb the impact of a landing and reduce the risk of injury for athletes. Some manufacturers are also experimenting with new types of fabrics and coatings that can make landing mats more slip-resistant and durable. The pole vault equipment market size has a significant opportunity due to material innovation. Manufacturers are constantly searching for new and inventive materials that can improve the performance of pole vault equipment and make it more robust, light, and comfortable for athletes to use as technology develops.
Global Pole Vault Equipment Market, Segmentation
The global pole vault equipment market is segmented based on product type, buyer type, sales channel, and region.
The product type segment is further classified into pole vault mat, vault box, cross bars, height gauge, pole vault uprights, accessories, and others. Among these, the pole vault mat sub-segment had a dominant market share in 2021. The major trend in the pole vault mat segment is the development of specialized mats that provide superior safety and performance. Manufacturers are investing in research and development to create innovative new materials and designs that offer improved shock absorption, reduced risk of injury, and enhanced performance. Manufacturers are increasingly offering customization options for pole vault mats, allowing athletes and coaches to choose the thickness, density, and size of the mat to best suit their needs. This allows for a more personalized and optimized training and competition experience.
The buyer type segment is further classified into individual, promotional, and institutional. Among these, the institutions sub-segment had a dominant market share in 2021. The use of pole vault equipment in educational institutions like schools, colleges, and universities is referred to as the institutional segment of the pole vault equipment market. As institutions invest in top-notch pole vault equipment to support their athletic programs and provide safe and efficient training environments for their athletes, this segment is a significant driver of growth in the overall market. As more educational institutions become aware of the value of physical activity and fitness for overall student health and wellbeing, they are placing a greater emphasis on athletics and sports programs. As a result, there is an increasing need for top-notch pole vault gear that can support these initiatives and assist athletes in realizing their full potential.
The sales channel segment is further classified into sports variety stores, direct to customer channel, third party online channel, and other channels. Among these, the direct to customer channel sub-segment had a dominant market share in 2021. Customers frequently can avail more customization options for their pole vault equipment through direct-to-consumer (D2C) channels. This might involve having a broader selection of sizes and features to pick from as well as the possibility to customize equipment with unique branding or logos. By selling directly to consumers, equipment makers are able to interact with and forge closer bonds with their clientele. Long-term, this may result in greater brand loyalty and consumer retention.
The pole vault equipment market share in the Asia-Pacific region is projected to show the fastest growth by 2031. The Asia-Pacific pole vault equipment market share is a rapidly growing market that includes countries such as China, India, Japan, South Korea, and Australia, among others. The market is driven by several factors, including the increasing popularity of pole vaulting as a sport, the growing investment in athletic infrastructure, and the rise of e-commerce channels. India is also a significant market for pole vault equipment, with a growing interest in sports and a rapidly developing athletic infrastructure. The country has a large youth population, and many schools and colleges are investing in sports facilities that support pole vaulting and other events. Due to its sizable population and expanding interest in sports, China has the largest market for pole vault equipment in the Asia-Pacific area. China has made significant investments in the creation of new athletic facilities, specifically those that encourage pole vaulting, with a strong focus on the growth of sports. Furthermore, Chinese customers now have greater access to pole vault equipment from both domestic and foreign suppliers due to the growth of e-commerce platforms.
Key Players in the Global Pole Vault Equipment Market
Some of the leading pole vault equipment market analysis players are
- 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
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