Swimming Pool Market - 42% of Growth to Originate from North America - Technavio

NEW YORK, March 19, 2024 /PRNewswire/ -- The global swimming pool market size is estimated to grow by USD 6.73 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of  4.39% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 42%.  

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The swimming pool market is experiencing growth, particularly in residential complexes, bungalows, row houses, and individual houses. Consumer spending on pool installations and maintenance is increasing due to rising income levels and the desire for regular exercises and comfort. New hotels are also incorporating pools to enhance guest experiences. Production of swimming pools is driven by technological advancements, including smart pool technologies such as salt chlorination systems. These systems, used in both residential and commercial pools, offer advantages like reduced chemical usage, automated chlorine production, and consistent water quality. Industry applications extend to emerging markets, where customization is key. Salt chlorinator systems, a technological advancement, are gaining popularity due to their ability to provide milder water, requiring fewer harsh chemical additives. This not only benefits swimmers but also contributes to the dominant position of the swimming pool industry.

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The swimming pool market experiences significant growth due to increasing consumer spending on luxurious residential experiences. This trend is observed in various dwelling types, including residential complexes, bungalows, row houses, and individual houses. New hotels also incorporate pools to cater to guests seeking comfort and leisure. Rising income levels drive demand, positioning swimming pools as a dominant feature of opulent lifestyles. Regular exercise and technological advancements, such as smart pool technologies, further boost industry applications. Technological innovations and customization are key trends in emerging markets. Production increases to meet the surging demand for private pools in both developed and developing economies.

Market Sizing

The Swimming Pool Market encompasses the production and installation of swimming pools in various applications. Key sectors include residential complexes, bungalows, row houses, and individual houses. Consumer spending on pools is driven by rising income levels and the desire for regular exercises. New hotels and fitness centers also contribute significantly to market growth. Technological advancements, such as smart pool technologies, are transforming industry applications. Emerging markets offer vast opportunities for customization and expansion. The Swimming Pool Market maintains a dominant position in the leisure industry.

Research Analyst Overview

The Urbanization and infrastructure development have led to a significant increase in the construction of Swimming Pools worldwide. The Swimming Pool Market is witnessing robust growth due to various factors such as increasing health consciousness, rising disposable income, and the growing trend of installing private pools in residential properties. The market is segmented based on Pool Type (Inground Pools, Above Ground Pools, and Portable Pools), Pool Material (Concrete, Fiberglass, and Vinyl), Pool Accessories (Pool Covers, Filters, Heaters, and Lights), and Region. The Asia Pacific region is expected to dominate the Swimming Pool Market due to the increasing urbanization and rising disposable income in countries like China and India. The Swimming Pool Market is projected to grow at a CAGR of over 5% during the forecast period. The market players are focusing on innovation and product development to cater to the evolving consumer preferences and demands.

Market Segmentation

This Swimming Pool Market report extensively covers market segmentation by Revenue (Construction, Equipment) End-user (Residential, Commercial) Geography (North America, Europe, APAC, South America, Middle East and Africa)

Market Segmentation by Revenue

The swimming pool market experiences innovation and growth, driven by the construction segment. This involves technology integration in pool design and sustainability in building practices. Private outdoor spaces are a focus, with customization and personalization key to meeting changing consumer preferences. Complex regulations and pool safety standards ensure compliance. Opportunities lie in addressing environmental concerns through eco-friendly pool solutions. Modern pools serve as multifunctional recreational hubs and aesthetic elements, reflecting the trend towards sustainable and personalized living.

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Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

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SOURCE Technavio