Volleyball physical performance relies on the interaction between mechanical power, metabolic efficiency, and ventilatory regulation during repeated high-intensity actions. This study examined mechanical and cardiopulmonary responses during three consecutive 15 s countermovement jump bouts in female volleyball players, using simultaneous cardiopulmonary exercise testing. Eighteen female athletes (18–28 years) completed the protocol with 60 s active recovery between efforts. Mechanical performance showed a progressive decline (p < 0.01), with jump height decreasing from 20.59 ± 3.04 cm to 19.30 ± 3.23 cm and power output from 15.80 ± 2.61 to 14.83 ± 2.25 W/kg (p = 0.001). Oxygen uptake (VO₂) increased from 16.40 ± 6.73 to 20.87 ± 6.08 mL/min/kg (p = 0.002), while respiratory exchange ratio (RER) rose above 1.0, suggesting a growing anaerobic contribution. VE/VO₂ and PetO₂ also increased significantly (p < 0.001), indicating ventilatory adjustment to metabolic stress. Despite these adaptations, recovery between efforts appeared incomplete, reflected by persistent ventilatory and metabolic activation. These findings suggest moderate oxidative efficiency and partial fatigue compensation under short recovery conditions. The testing model may serve as a practical approach to evaluate the interplay between mechanical and metabolic performance and to refine individualized conditioning strategies in volleyball players.