PUBLISHER: The Business Research Company | PRODUCT CODE: 1455337
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455337
Swimming pool construction encompasses the process of conceptualizing, planning, designing, and physically constructing a swimming pool. This undertaking involves a systematic sequence of steps aimed at ensuring the development of a secure, functional, and visually appealing pool suitable for recreational and aquatic purposes.
The primary categories of swimming pool construction include above-ground and in-ground. An above-ground pool specifically denotes a pool that is installed on the ground level or surface, differing from an in-ground pool that is excavated into the ground. Various construction materials, such as concrete and fiberglass, are employed in the construction process, catering to diverse end-users including residential and non-residential settings.
The swimming pool construction market research report is one of a series of new reports from The Business Research Company that provides swimming pool construction market statistics, including the swimming pool construction industry global market size, regional shares, competitors with a swimming pool construction market share, detailed swimming pool construction market segments, market trends and opportunities, and any further data you may need to thrive in the swimming pool construction industry. This swimming pool construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The swimming pool construction market size has grown steadily in recent years. It will grow from $7 billion in 2023 to $7.27 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth witnessed in the historical period can be ascribed to the surge in real estate development, rising disposable income, the prevalence of wellness and lifestyle trends, the expansion of the tourism and hospitality industry, and the growing popularity of outdoor living space trends.
The swimming pool construction market size is expected to see steady growth in the next few years. It will grow to $8.14 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The anticipated growth in the forecast period can be credited to the increasing demand for customization, a rise in sustainable and eco-friendly practices, the trend of urbanization and high-rise developments, considerations for health and wellness, and trends influenced by the pandemic. Noteworthy trends in the forecast period encompass innovations in pool design, the integration of smart pool technologies, advancements in pool technology, the promotion of sustainable and eco-friendly pool design, and the popularity of saltwater pools and alternative water treatment methods.
The surge in hotel construction is poised to drive the growth of the swimming pool construction market in the foreseeable future. Hotels, being commercial establishments that provide temporary lodging accommodations, are increasingly incorporating swimming pools into their construction to enhance guest experiences, elevate overall appeal, and boost competitiveness in the market. As of October 2023, according to Lodging Econometrics, a US-based hospitality services provider, Canada's hotel construction pipeline in Q3 2023 included 275 projects with 37,780 rooms, marking a 5% increase in projects and an 8% increase in rooms year-over-year (YOY). Additionally, during Q3, Canada witnessed the announcement of 22 new projects with 2,816 rooms. Consequently, the rise in hotel construction contributes to the growth of the swimming pool construction market.
The increasing desire for enhancing home aesthetics is anticipated to fuel the expansion of the swimming pool construction market. Homeowners are actively seeking ways to improve the visual appeal of their residences, and swimming pool construction serves as a means to create a unique and inviting outdoor space. According to a survey conducted in May 2023 by Slickdeals, a US-based deal-sharing community, around 69% of homeowners feel embarrassed about their homes' aesthetics, and 78% have plans for home improvement projects. Moreover, homeowners are planning to allocate an average of $1,753 for such improvement initiatives. Consequently, the growing demand for enhancing home aesthetics contributes to the growth of the swimming pool construction market.
The high costs associated with construction are expected to hinder the growth of the swimming pool construction market. Elevated construction costs impact both builders and potential pool owners, leading to hesitancy in undertaking projects and potentially reducing revenue for builders. For instance, as of May 2023, according to Angi Inc., a US-based internet services company, homeowners spend an average of $36,000 on a swimming pool, with construction costs ranging up to $195,000. Therefore, the challenges posed by high construction costs restrain the growth of the swimming pool construction market.
Leading companies in the swimming pool construction market are intensifying their efforts to introduce graphene-enhanced swimming pools, aiming to secure a competitive advantage. These pools represent an innovative approach to fiberglass pool construction, incorporating minute quantities of graphene into the resin of the pool shell. For example, Aqua Technics Pools, a US-based manufacturer of fiberglass swimming pools, unveiled the Graphene Nano-Tech Swimming Pools in June 2021. Graphene, a single layer of carbon atoms arranged in a honeycomb lattice, imparts exceptional properties to enhance the strength and durability of the pool shell, thereby reducing the risks of cracking and warping.
In August 2022, Arch Amenities Group, a US-based company, successfully acquired NYS Pool Management for an undisclosed sum. This strategic acquisition positions Arch Amenities Group to offer an expanded range of services and extend its pool-related services to new clients. NYS Pool Management, a US-based company specializing in commercial and residential pool services, excels in pool construction, repairs, maintenance, risk management, and organizing pool-related special events.
Major companies operating in the swimming pool construction market report are Latham Pool Products Inc., Zodiac Pool Systems, Piscines Desjoyaux SA, Cody Pools, Narellan Pools, Blue Book Services, Compass Pools, Leisure Pools, Myrtha Pools, Platinum Pools, Natare Corporation, Blue Haven Pools, Albatross Pools, Millennium Pools Pvt. Ltd., Concord Pools and Spas, Premier Pools and Spas, Riverbend Sandler Pools, Pool Corporation, Aloha Pools Pty Ltd., Pool Town, Aquamarine Pools, Presidential Pools, Spas & Patio, Southern Poolscapes, Tranquility Pools, Excel Pool Services, Paragon Pools, Hawaiian Pools and Waterscapes, Cody Pools Inc., California Pools
North America was the largest region in the swimming pool construction market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the swimming pool construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the swimming pool construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The swimming pool construction market includes revenues earned by entities by providing services such as additions, alterations, maintenance, and repairs. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Swimming Pool Construction Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on swimming pool construction market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for swimming pool construction ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The swimming pool construction market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.