PUBLISHER: The Business Research Company | PRODUCT CODE: 1563199
PUBLISHER: The Business Research Company | PRODUCT CODE: 1563199
A swimming pool is a man-made structure designed to hold water for swimming and other water-based activities. It serves various purposes, including competitive sports, recreational activities, therapeutic uses and relaxation.
The swimming pool market consists of sales, by entities (organizations, sole traders and partnerships), of swimming pool construction services. Swimming pools are utilized by a diverse group of people ranging from professional athletes to families and individuals seeking leisure or fitness activities. They are commonly found in private residences, public recreational centers, sports complexes, hotels and resorts.
The global swimming pool market was valued at $3,336.10 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 1.0%.
Increase In The Sports And Leisure Activities
The increase in the sports and leisure activities contributed to the growth of the swimming pool market during the historic period. The rising popularity of recreational and competitive sports, such as swimming and water polo, increased the demand for swimming pools for training and fitness. Additionally, heightened focus on leisure and wellness led both residential and commercial sectors to invest in high-quality pools, boosting their appeal and driving market growth through expanded applications and installations. For instance, in February 2023, according to the International Institute of Sports & Management (IISM), an India-based institution offering sports management programs, the government of India announced a sports budget of INR 33.97 billion ($405 million) to the Ministry of Youth Affairs and Sports, marking an 11% increase from the previous fiscal year's budget of INR 30.62 billion ($369.58 million). Funding for the Sports Authority of India (SAI) was raised to INR 7.85 billion ($94.80 million) from the previous year's revised grant of INR 7.49 billion ($90.45 million). Notably, the government's flagship initiative, Khelo India, received a substantial allocation of INR 10.45 billion ($126.12 million), reflecting a INR 4 billion ($48.27 million) increase from the previous revised allotment of INR 6 billion ($72.41 million). Additionally, in January 2022, according to the 2022 Outdoor Participation Trends Report published by the Outdoor Industry Association (OIA), a US-based not-for-profit membership organization, in 2021, a record-breaking 164.2 million Americans aged 6 and above, comprising 54% of the population, engaged in outdoor recreation at least once. This marked a 6.9% increase from March 2020, reflecting substantial growth in the outdoor participant base. Therefore, an increase in the sports and leisure activities drove the growth of the swimming pool market.
New Pool Temperature Systems Combining Heating And Cooling Technologies In A Single Device
Major companies in the market are introducing a new pool temperature system that combine heating and cooling technologies into one device. These advanced solutions provide precise control, allowing pool owners to adjust temperatures for different areas, such as chilling a spa section to cold-plunge levels while keeping the main pool at an ideal swimming temperature. For example, in June 2024, Hayward Holdings, Inc., a US-based pumping and pumping equipment company, introduced the HeatPro Series of Heat+Chill Pumps, featuring pioneering microchannel heat exchanger technology. This innovation enables pool owners to heat, cool and chill their pool using a single device. It also offers customizable temperature settings for different pool sections, allowing, for instance, a spa area to be chilled to cold-plunge levels while maintaining an ideal swimming temperature for the rest of the pool.
The global swimming pool market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 21.73% of the total market in 2023.
Swimming Pool Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global swimming pool market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for swimming pool? 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 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 history and forecasts market growth by geography. It places the market within the context of the wider swimming pool market; and compares it with other markets.