CLEVELAND, Nov. 11, 2019 /PRNewswire/ -- Through 2023, new pool and spa sales are expected to renormalize in the US – the world's leading national market for pool and spa water treatment equipment and chemicals – following the spike in growth registered from 2013 to 2018, when demand pent up during the recession was released:
- US new pool and spa installations are expected to grow 3.0% per year to 440,000 units in 2023, when the total pool and spa installed base will approach 19 million units.
- US sales of related equipment and chemicals – which tend to be higher-value due to the country's high incomes and water treatment standards – will exceed $2.5 billion in 2023 on annual growth of 3.5%.
China far exceeds the US in terms of the number of pools and spas in use and is expected to account for 22% of new pool and spa sales globally in 2023 due to rising incomes and related investment in recreational facilities (e.g., public swimming pools, aquatics facilities, amusement parks). However, laxly enforced water treatment and safety standards in the country restrains demand for pool and spa equipment and chemicals, the market for which was about half of that of the US despite China having millions of more pools and spas in use.
That's because where Chinese pools and spas are more likely to use basic, low-cost cartridge filtration equipment and chemicals such as chlorine, US pools and spas increasingly utilize equipment that costs more upfront and uses more expensive consumables, such as:
- ozone disinfection systems
- diatomaceous earth filtration equipment
These trends and more are analyzed in Global Pools & Spas published by The Freedonia Group.
Want to learn more? Visit our webpage for Global Pools & Spas: https://www.freedoniagroup.com/industry-study/global-pools-spas-3778.htm
Contact Corinne Gangloff for an interview with the analyst Peter Kusnic or Project Director Jennifer Mapes-Christ.
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SOURCE The Freedonia Group