Swimming Pool Market to grow by USD 7.44 Billion (2024-2028) as demand for luxurious lifestyles rises, Report highlighting AI's impact on market trends - Technavio

NEW YORK, Dec. 9, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global swimming pool market size is estimated to grow by USD 7.44 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.64% during the forecast period. Increasing demand for luxurious lifestyles is driving market growth, with a trend towards high growth in tourism industry. However, high installation and maintenance costs of swimming pool poses a challenge. Key market players include Confer Plastics Inc., Finish Thompson Inc., FLUIDRA SA, Guangdong LASWIM Water Environment Equipment Co.Ltd., H.C. Harrington Co.Inc., Hayward Holdings Inc., Jumpking International LLP, Masco Corp., Pentair Plc, Pleatco LLC, Pool Tool Co., Readymade Pool, Rheem Manufacturing Co., SwimEx Ltd., Swimline, The Specialty Mfg. Co., Therm Products division of HydroQuip inc., Val-Pak Products, Valterra Products LLC, and Waterco Ltd..

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Market Driver

The global swimming pool market is experiencing significant growth due to the increasing focus on providing superior amenities in tourist destinations. Swimming pools, whether indoor or outdoor, are becoming essential features in hotels, resorts, and vacation properties to cater to travelers seeking relaxation and entertainment. The rise of wellness tourism has further boosted this trend, as guests look for destinations offering rejuvenation, exercise, and relaxation. Hotels and resorts are investing in expansive spa complexes, which frequently include swimming pools. Cruise ships are also capitalizing on this trend by incorporating advanced pool areas with water slides and infinity pools. The growing middle class in emerging economies is driving increased domestic and international tourism, leading to a heightened demand for leisure facilities like swimming pools. These factors are expected to fuel the growth of the swimming pool market during the forecast period. 

The swimming pool market is experiencing significant growth with increasing demand for residential and commercial pools. Bettered technology and construction methods have led to the creation of more efficient and long-lasting pools. Consumers are looking for pools with advanced features such as automatic cleaning systems, energy-efficient pumps, and LED lighting. The use of sustainable materials like concrete and fiberglass is also on the rise. Producers are responding to these trends by offering a wide range of pool types and customization options. The market is expected to continue growing due to the increasing popularity of pools as a luxury and recreational feature. Pool construction companies are meeting this demand by providing professional design and installation services. Overall, the swimming pool industry is thriving with new innovations and consumer preferences driving its growth. 

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Market Challenges

• The global swimming pool market faces challenges due to high installation and maintenance costs. Expenses include water changes, filter cleaning, and motor pump power consumption. Skilled labor adds to expenses. Water scarcity in countries like Yemen, Libya, and Jordan increases water costs, further limiting market growth in developing nations. These factors hinder market expansion during the forecast period.
• The swimming pool market faces several challenges in the industry. One significant challenge is the high cost of upgrading and maintaining pools with advanced features, such as automatic cleaning systems and energy-efficient pumps. Another challenge is the increasing demand for eco-friendly pools, requiring the use of sustainable materials and water conservation techniques. Additionally, regulations regarding pool safety and water quality add to the operational costs. Furthermore, the competition from alternative recreational activities and changing consumer preferences pose a threat to the market growth. Overall, the swimming pool market must address these challenges to remain competitive and cater to evolving customer needs.

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Segment Overview 

This swimming pool market report extensively covers market segmentation by

1. Revenue 
• 1.1 Construction
• 1.2 Equipment
2. End-user 
• 2.1 Residential
• 2.2 Commercial
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Construction- The global swimming pool market's construction segment experiences growth, driven by residential and commercial sectors. In residential areas, homeowners invest in custom pool designs to boost property value and lifestyle. Collaboration with homeowners includes size, shape, water features, lighting, and landscaping preferences. Modern trends favor multifunctional pools. Commercial pool construction caters to safety, durability, and brand aesthetics in hospitality, leisure, and wellness industries. Innovative designs attract customers in hotels, resorts, fitness centers, and aquatic facilities. Water parks, theme parks, and public swimming complexes seek unique experiences through cutting-edge pool designs. The construction of new buildings with amenities like swimming pools and gyms fuels market growth.

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Research Analysis

The Swimming Pool Market has experienced unprecedented growth in recent years, driven by the increasing demand for better lifestyle amenities in both residential and commercial sectors. Residential pools continue to be popular, with options including PVC plastic, fiberglass, and concrete. In urbanization projects, commercial pools have become a dominant position, often found in wellness centers and hotels. Raw materials such as galvanized steel, metal, and polyurethane foam are essential for infrastructure construction. Swimming pool equipment manufacturers like Finish Thompson, Hayward Pool, Valterra Products, Confer Plastics, Therm Products, Aladdin Equipment, Pentair, SunRunner Pool, and Pleatco provide solutions for filtration, heating, and pool covers. The market's growth may face challenges during economic slowdowns but remains a significant sector for luxurious residential and commercial structures.

Market Research Overview

The swimming pool market encompasses the production, sales, and installation of swimming pools and related accessories. Components include filters, pumps, heating systems, pool covers, and cleaning equipment. The market is driven by increasing consumer demand for home pools, growing tourism industry, and rising health consciousness. Pool materials range from concrete to fiberglass and vinyl liners. Smart pool technologies, such as automation and energy efficiency, are gaining popularity. The market is segmented by pool type, material, and geography. Regions with high demand include North America and Europe due to their large populations and favorable climates. The market is expected to grow steadily due to these factors and increasing disposable income.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Revenue
• Construction
• Equipment
• End-user
• Residential
• Commercial
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

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SOURCE Technavio