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