New York, USA, June 28, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global pole vault equipment market. According to the report, the global market is projected to surpass $1,50,766.1 thousand and grow at a CAGR of 3.2% in the estimated period, 2022-2031. This all-inclusive report delivers a comprehensive overview of the current and future situation of the pole vault equipment market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Pole Vault Equipment Market
The outburst of the COVID-19 pandemic in 2020 has had an adverse impact on the growth of the global pole vault equipment market. During the pandemic, many sports activities, including pole vaulting competitions, were cancelled or postponed because of lockdowns and restrictions on public gatherings and sports events. Moreover, the international supply chain was hindered by the pandemic, which led to shortages and delays in the production and delivery of pole vault equipment. These factors significantly hindered the market growth amidst the pandemic.
Factors Impacting the Pole Vault Equipment Market Growth
The key factor boosting the growth of the global pole vault equipment market is a significant rise in the need for pole vault equipment owing to the growing need for high-quality, safe, durable, and efficient pole-vaulting equipment. Furthermore, the rising popularity of pole vaulting as a training tool for athletes in sports such as track and field, basketball, and gymnastics is estimated to unlock lucrative opportunities for market growth in the forecast period. However, the high initial cost of pole vault equipment is anticipated to deter the market’s growth.
The report segments the global pole vault equipment market into product type, buyer type, sales channel, and region.
Pole Vault Mat Sub-Segment to Grab a Foremost Share of the Market
The pole vault mat sub-segment of the product type segment is foreseen to observe leading growth in the forecast period. This growth is mainly owed to the increasing popularity of the sport among enthusiasts and athletes as well as the growing demand for safety and performance in the sport of pole vaulting.
Institutional Sub-Segment to Witness Rapid Growth
The institutional sub-segment of the buyer type segment is predicted to grow enormously in the forecast period. This growth is mainly owed to the increasing demand for high-quality pole vault equipment that can improve their sports programmes and offer safe and efficient training environments for their athletes.
Direct to Customer Channel Sub-Segment to Grab a Leading Share of the Market
The direct to customer channel sub-segment of the product sales channel is expected to observe leading growth in the forecast period. This growth is mainly because customers who live in areas with limited access to specialized sports equipment may find this to be very beneficial.
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North America Pole Vault Equipment Market to Perceive Maximum Growth
The report analyzes the global pole vault equipment market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the North America market is projected to observe significant growth in the estimated period. This growth is mostly owing to the increasing demand for pole vaulting as a sport, significant investment in sports facilities, and the existence of renowned manufacturers and suppliers in this region.
Key Players of the Global Pole Vault Equipment Market
The report states some of the foremost players operating in the global market including
- BSN Sports LLC
- Gill Athletics
- Aluminium Athletic Equipment Co
- United Canvas & Sling Incorporated
- Nordic Sport AB
- Altius Poles
- Blazer Athletic Equipment
- Dimasport SA
- ESSX
- A.R.H Sports Equipment Ltd
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
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