The pole vault equipment market has been witnessing a considerable shift from conventional distribution channel towards direct to customer sales channel, given its benefit of building strong relationship between manufacturers and customers with respect to brand image. Moreover, direct to customer sales channel allows companies to gain customer data that can be used to enhance business development and build long term relationship with customers.
Inclusion of pole vaulting in various tournaments, Olympics and Commonwealth Games has demanded use of quality pole vault equipment, which continues to drive the sale of pole vault equipment, in turn pushing the growth of the pole vault equipment market. In addition, with stringent regulations laid by pole vault associations apropos of appropriate specifications of various pole vault equipment such as vaulting pole material hardness and strength, vault box, and other landing equipment including platform length, landing accessories and vault pit, with a view to increase the safety quotient has presented potential opportunities for manufacturers of pole vault equipment to provide effective products. This factor is expected to further support the growth of the pole vault equipment market in the forthcoming years.
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Fact.MR has recently drafted a new research report on pole vault equipment market that covers statistics reflecting growth projections with respect to demand of pole vault equipment across key regional markets. According to this study, the pole vault equipment market is projected to expand at a steady rate throughout the period of forecast, 2018-2028. The volume sales of pole vault equipment continues to remain concentrated in the developed regions of North America and Europe. Albeit gaining high popularity in developed regions, pole vaulting a game has witnessed low acceptance in other regions in the world, which has indirectly impacted the demand for pole vault equipment and its market.
International associations such as the International Association of Athletes Federations (IAAF), USATF (USA Track and Field), National Federation of State High School Associations (NFHS), and National Collegiate Athletic Association (NCAA) have laid stringent regulations regarding field and track specifications for pole vaulting along with specifications associated with size, height, material and stiffness quotient that manufacturers are meant to comply with, with a view to provide equipment safety guarantee to athletes while practice.
In addition, IAAF (International Association of Athletes Federations) has recommended that the vault box construction should be carried out using metal, wood or any other rigid material. Furthermore, National Federation of State High School Associations (NFHS) has recommended padding of any unyielding surfaces or hard surfaces around the landing pit or between landing system and planting box. These mandates by national authorities, signifying safety, are also expected to enhance the experience of athletes, in turn supporting the growth of the pole vault equipment demand and sales, consequently pushing the expansion of pole vault equipment market during the period of forecast.
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Private clubs, colleges and schools are key end users of pole vault equipment, including pole vault pits. Manufacturers of pole vault equipment are striving to cater to growing demands of these end users by enhancing their production capacities and developing enhanced pole vault equipment. Besides developments in material of pole vault equipment, manufacturers have come up with inflatable pole vault pits that facilitate uniqueness in landing system. The inflatable pole vault pits resolve the issue of using traditional foam. Moreover, they also provide vaulters with flexible landing system as well as enhance their results. In addition, inflatable pole vault pit can be stored in any metal container in any weather. This feature of performance enhancement coupled with safety is likely to raise the demand for inflatable pole vault pits, in turn pushing the growth of the pole vault equipment market in the years to follow.
Pole vault equipment market is largely impacted with the injuries associated with the sport, with the decreasing participation in pole vaulting. It is considered as the third most difficult sport across the globe with the risk of injuries increasing with increase in height. With height with 20 feet or over, vaulters are exposed to increased risk of physical damage such as ligament tear and bone damage. Specifically occurring during training sessions, such damages have induced a sense of reluctance among athletes to pursue the sport, in turn negatively impacting the demand for pole vault equipment. Moreover, in some cases injuries occur due to cracking of poles leading to severe physical damages. The physically demanding and highly challenging nature of pole vault sport is expected to impede the growth of the pole vault equipment market during the assessment period.
Since the past few years, there have been fewer advancements in pole vault equipment including pole material. The pole material shifted from bamboo material to aluminum and ultimately to fiberglass material. Albeit manufacturers of pole vault equipment introducing novel introductions such as inflatable pits, further innovations in material design have not yet been researched upon, limiting the development scope. That said, the pole vault equipment market is expected to grow at a meek pace during the period of assessment.
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