According to a recent report published by Allied Market Research, titled, “Swimming Pool Construction Market by Material, Construction Type, End User, and Region: Global Opportunity Analysis and Industry Forecast, 2020–2027,”
The swimming pool construction market size was valued at $ 6.8 billion in 2019, and is expected to reach $7.4 billion by 2027, registering a CAGR of 3.8% from 2020 to 2027. In 2019, the North America region dominated the swimming pool construction market, followed by the LAMEA region. The swimming pool construction market includes revenue generated by construction of new swimming pools and renovation of old swimming pools in residential and non-residential infrastructure. These swimming pools are generally built with materials such as concrete, fiberglass, and vinyl liner. The pools are designed upon the requirement of the user, whether it should be in-ground or above-ground.
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Growth of the swimming pool construction market is majorly driven by rise in demand for swimming pools in gyms and luxurious amenities in homes and hotels. On the basis of material, in 2019, the concrete segment dominated the swimming pool construction market. On the basis of construction type, the in-ground segment led the market in 2019. By end user, the residential segment led the market in 2019. By region, North America led the market in 2019
Attributed to the rise in awareness regarding health, there has been increase in number of gyms that are equipped with swimming pools. This has given rise in construction of swimming pools in the last few years. In addition, rise in tourism has led to construction of swimming pools in hotels and rented bungalows.
Moreover, rise in per capita income of the people has raised the standard of living, which, in turn, has escalated the construction of swimming pools in private residences as well. However, the high construction cost and thereafter high maintenance cost act as a restraint to the swimming pool construction market.
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Further, the outbreak of COVID-19 has led to a halt in construction and manufacturing activities across the globe. Halt in logistics services has led to interruption of supply chain, which, in turn, hinders the swimming pool construction market growth.
However, industries are gradually getting back on track and vaccine discovery would lead to recovery of the swimming pool construction industry by mid-2021. On the contrary, adoption of IoT for filtration and heating systems is anticipated to act as a major opportunity for the market during the forecast period.
The swimming pool construction market is segmented into material, construction type, end user, and region. On the basis of material, the market is divided into concrete, fiberglass, vinyl liner and steel frame. By construction type, it is segregated into above-ground and in-ground. Depending on end user, it is classified into residential and non-residential. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
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Key Market Segments
- By Material
- Vinyl Liner
- Steel Frame
- By Construction Type
- By End User
Key Findings of The Study:
- By material, the concrete segment was the highest revenue contributor in 2019.
- By construction type, the in-ground segment was the highest revenue contributor in 2019.
- By end user, the residential segment was the highest revenue contributor in 2019.
- By region, North America generated the highest revenue in 2019.
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