It is estimated that the total world consumption of poles in 2017 was about 81.1 million units, with a CAGR of 6.08% during 2016-2021.
There are many key drivers of the market some of which are the considerable increase in the demand for adventures and trekking among consumers and the need for upgrading aged and also, Strict regulations regarding environmental-friendly poles (wooden poles) and the need for replacing and upgrading aged wooden poles. A combination of many factors is driving the poles market forward and this is expected to remain the same in the coming future.
The advantages of Poles Market are many and vary according to the type of project being undertaken. For example, if you are looking for an efficient way to connect with potential customers, then this is an excellent option. However, if you are hoping to get some extra exposure for your business or brand, then it might be better to consider another form of marketing. Another advantage of Poles Market is that it can provide a consistent and reliable method of contacting potential customers. This means that you will be able to develop trust with clients and have a relationship with them that lasts for years.
Finally, Poles Market also offers a great opportunity for small businesses to reach out to a wider audience. It gives businesses the chance to present their products or services in front of a larger group of people than they would ever be able to achieve without the use of social media or other forms of marketing. If you want to get more attention for your business or brand, then using Poles Market could be the best option for you.
Market Value and CAGR of Poles Market
The current market value and CAGR is expected to rise in the next five years for the Poles market. The current market value is $43.4 Bn as of 2021 and is expected to grow at a CAGR of 3.72 % during the forecast period from 2021 to 2031.
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The rise is due to various factors and advantages of the poles market such as the rising demand among consumers for hiking and trekking which is the primary reason driving the market and is only expected to rise ahead.
Restrains of the Poles Market
Certain drawback of the Poles Market is mentioned below:
• As the poles market is highly competitive, so it is difficult to attain a large market share. A large number of competitors means that there is an established market already present and it becomes difficult to position yourself besides established players and this one of the major drawbacks of the poles market.
• Dependency on various factors such as raw material prices, political situation, and economic conditions. As such factors can drastically change over a period of time, the dependency may be a major concern as far as the poles market is concerned. However, there is demand of the market and the market seems to be moving in the positive direction.
Key Players in the Market of Poles Market
• Some of American Lighting, Inc., ATCO Electric, Valmont Industries, Inc., JEA, Superior Tube Company, Valmont Industries, Inc. Nucor Corporation among others.
• The competition among the companies is getting steeper as the demand is expected to rise and there needs to be new innovations and variety made to make the product more effective. This is the major challenge for all the competitors as the one to overcome will have a better share in the market.
Segment Analysis
• The most revenue generating product type segment of the global market is the ‘Hybrid’ segment. It is expected to grow at a CAGR of 17.8% during the forecast period and generate revenue of $1,560.19 million by 2023.
• On the basis of applicability, the global market has been segmented into industrial applications and commercial applications. The industrial applications segment dominates the global market and will continue to grow at a steady pace during the forecast period. The competition in this segment would be moderate since it requires substantial investment in research and development (R&D) activities.
• North America accounts for a major share in the overall global market with 21% due to an increase in demand for energy-efficient HVAC systems from several industries including food & beverages, healthcare, automotive, construction and others. North America is followed by Europe with a 16% share in 2016 as explained below:
Impact of Covid-19 on the Poles Market
The Covid-19 pandemic has had a significant impact on the poles market. The demand for walking and trekking poles has declined sharply as a result of the lockdown measures implemented across the globe. This has led to a decrease in sales of poles in both the retail and online channels.
However, there has been an increase in demand for poles used for outdoor activities such as climbing and hiking. This is likely due to the fact that people are looking for ways to stay active while spending time outdoors.
Overall, the Covid-19 pandemic has had a negative impact on the poles market. However, there is still some demand for certain types of poles used for outdoor activities.
Recent development in the Poles Market from 2019-2022
New developments in the Poles Market have been concluded as a result of effective and efficient collaborative efforts made by the major market players. The focus on product development, advanced technology, and innovation has ensured the production of quality products with advanced features. The emphasis is placed on creating unique brand identity for the company which helps in gaining competitive edge over other companies operating in the same domain. As per our recent analysis, the new developments & launch of products has created an exciting future for this market.
Poles Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2031 |
| Study Period | 2018-2031 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2031 | USD NA |
| Growth Rate | CAGR of 3.72 % during 2021-2031 |
| Segment Covered | Type, Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | American Lighting, Inc., ATCO Electric, Valmont Industries, Inc., JEA, Superior Tube Company, Valmont Industries, Inc. Nucor Corporation among others. |
Key Segments of the Poles Market
Type Overview,
• Walking Poles
• Trekking Poles
Application Overview,
• Outdoor Climbing
• Hiking Plains
• Daily Use
Regional Overview
North America
• U.S
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
• Middle East and South Africa
Frequently Asked Questions (FAQ) :
The global Poles market size is expected to reach NA 2031