Newark, April 18, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 100 million in 2023 global pole vault equipment market will reach USD 162.88 million in 2033. All components needed to do a pole vault are called pole vault equipment. In the track and field sport of pole vaulting, competitors utilize a long, flexible pole to reach significantly higher heights to clear a horizontal bar. One of the main parts of pole vault equipment is the pole, usually made of carbon fibre or fibreglass. The athlete's weight, ability, and preference are considered when selecting the pole. An essential safety precaution is a foam landing pit, which cushions competitors' landings after clearing the bar. Equipment for pole vaulting is used in both training and competition.
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Pole vault equipment helps athletes perform better by creating a secure atmosphere for training and competition. With the right equipment, athletes may practise training efficiently, try various methods, and hone their talents. Standardized equipment guarantees competitive fairness between venues and meets, putting all participants on an even playing field. Technological and material advances have produced robust, adaptable equipment that can survive the demanding conditions of elite sports. Modern pole vault equipment improves Athletes' overall experience, which is safer and more effective.
Key Insight of the Global Pole Vault Equipment Market
Asia Pacific will dominate the market during the forecast period.
The growth in demand for specialized equipment like pole vault gear for training and participation is due to the spike in interest in athletics and track and field sports throughout the region. The need for pole vault equipment has also increased due to the Asia-Pacific region hosting an increasing number of international sporting events, which has required sports facilities and equipment modifications to meet international standards. Many Asia-Pacific nations have had significant economic expansion, which has raised disposable incomes and led to higher spending on sports and leisure activities. The growth of sports and educational initiatives has facilitated the region's expanding need for pole vault equipment.
In 2023, the pole vault mats segment dominated the market with the largest market share of 37% and revenue of 37 million.
The product type segment is divided into vaulting pole, pole vault mats, vaults box, landing equipment, height gauge, cross bars, pole vault uprights and accessories and others. In 2023, the pole vault mats segment dominated the market with the largest market share of 37% and revenue of 37 million.
In 2023, the individual segment dominated the market with the largest market share of 64% and revenue of 64 million.
The buyer type segment is divided into individual and institutional. In 2023, the individual segment dominated the market with the largest market share of 64% and revenue of 64 million.
In 2023, the direct to customer segment dominated the market with the largest market share of 40% and revenue of 40 million.
The distribution channel segment is divided into sports stores, direct to customer, online channel, and others. In 2023, the direct to customer segment dominated the market with the largest market share of 40% and revenue of 40 million.
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Advancement in market
To distribute much-needed equipment supplied by the Ukraine Fund, World Athletics President Sebastian Coe met with members of the Ukrainian squad and recently elected World Athletics Council member Nataliya Dobrynska in Budapest. The fund was formed to benefit elite athletes impacted by the crisis in their home country. It was founded by World Athletics, the International Athletics Foundation (I.A.F.), and Members of the Diamond League Association last year and renewed in May. Its main goal is to guarantee that, in the wake of Russia's invasion of Ukraine last year, Ukrainian athletes can continue to train, qualify for, and compete in World Championship competitions.
Market Dynamics
Driver: Pole vaulting's rising popularity.
The demand for pole vault equipment is driven by the growing popularity of pole vaulting, ascribed to increased media coverage of the sport and more accessibility to resources. More people are motivated to take up pole vaulting as the sport becomes more well-known on international stages like the Olympics, which expands the number of enthusiasts looking for the required equipment. The demand for pole vault equipment will also be fueled by establishing athletic programmes at educational institutions and community organizations to assist these aspirations. In addition, the increasing desire of nations or organizations to host significant athletic events for soft diplomacy and other pertinent reasons has prompted them to invest in the infrastructure required for sports, such as pole vaulting venues, which will increase demand for equipment. Furthermore, the expanded pole vaulting sponsorship prospects will aid the market's expansion. Consequently, the sport's increasing popularity will encourage the rising demand for pole vaulting equipment worldwide.
Restraints: The financial aspects of pole vault equipment.
Premium equipment, like landing pits, standards, and poles, is pricey. For athletes and organizations with little resources, the cost barrier prevents them from participating in the sport. Over time, recurring expenses for equipment replacement, upgrades, and maintenance put additional strain on financial resources. Equipment for pole vaulting needs to be maintained to guarantee performance, longevity, and safety. Landing pits need to be inspected, cleaned, and repaired regularly to avoid degradation from weather exposure and frequent impact. In the same vein, standards and pole vault boxes should be routinely inspected for indications of deterioration or structural damage. Poles must be handled and stored with caution to maintain their flexibility and integrity. As a result, the maintenance difficulties and cost issues will restrict the market's expansion.
Opportunities: advancements and innovations in Pole vault equipment.
Technological developments have improved the performance, safety, and versatility of pole vault equipment. Modern poles, for example, are made of fibreglass or carbon fibre composites, which have better strength-to-weight ratios and can support higher bending pressures without breaking. Furthermore, producers use cutting-edge manufacturing processes to increase the rigidity and flexibility of the pole. With the advent of adjustable grip systems on poles, athletes can now modify the grip diameter to their preferred level, which improves comfort and control throughout the vault. Improvements in the pole vault landing mechanism have also been made. Modern foam landing pits are more sophisticated. Throughout the projected time, the market's growth and development will be supported by all of these advancements, which is positive news.
Challenges: Training, practice, and skill development are time- and energy-consuming processes.
Technical skills are essential in pole vaulting. The sport demands a combination of physical ability, precision, and finesse. Athletes undergo extensive training and practice to master the various techniques involved. Proper pole planting technique requires precise positioning, timing, and coordination to maximize energy transfer from the pole. Safely descending from the vault and landing in the pit requires proper technique to minimize the risk of injury. Additionally, athletes must understand how to select, handle, and maintain pole vault equipment to ensure safety and performance. Mastery of these technical skills requires dedication and discipline. In the absence of popularity and recognition of the sports combined with the costs of training and time-consuming learning process, individuals are discouraged from the sport, and therefore, these factors challenge the market's growth.
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Some of the major players operating in the global pole vault equipment market are:
• A.R.H. Sports Equipment Ltd
• Altius Poles
• Aluminum Athletic Equipment Co
• Blazer Athletic Equipment
• B.S.N. Sports L.L.C.
• Dima Sport SA
• ESSX
• Gill Athletics
• Nordic Sport AB
• United Canvas & Sling Incorporated
Key Segments covered in the market:
By Product Type
• Vaulting Pole
• Pole Vault Mats
• Vaults Box
• Landing Equipment
• Height Gauge
• Cross Bars
• Pole Vault Uprights and Accessories
• Others
By Buyer Type
• Individual
• Institutional
By Distribution Channel
• Sports Stores
• Direct to Customer
• Online Channel
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (U.A.E., South Africa, Rest of M.E.A.)
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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