Dublin, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The "Swimming Pool Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The global swimming pool market reached a value of nearly $3.55 billion in 2023, having grown at a compound annual growth rate (CAGR) of 1.29% since 2018. The market is expected to grow from $3.55 billion in 2023 to $3.94 billion in 2028 at a rate of 2.11%. The market is then expected to grow at a CAGR of 2.28% from 2028 and reach $4.42 billion in 2033.
Growth in the historic period resulted from increase in the sports and leisure activities, increased disposable income, strong economic growth in emerging markets and increased government support. Factors that negatively affected growth in the historic period include concerns about water usage and conservation and high costs for heating and maintaining pool temperatures.
Market-trend-based strategies for the swimming pool market include focus on use of robotic pool cleaners is gaining popularity in the swimming pool market to enhance maintenance efficiency, focus on introducing a new pool temperature systems that combine heating and cooling technologies into one device, focus on enhancing operational reach and market footprint through new regional expansions, focus on adopting a strategic partnership and collaboration approach to leverage complementary strengths, expertise and resources and focus on advancing home building projects with new pool products that enhance aesthetics and functionality.
Going forward, the expansion in the tourism and travel industry, increasing awareness about health and wellness, increasing urbanization and growth in the hospitality sectors will drive the market. Factors that could hinder the growth of the swimming pool market in the future include significant investment required for pool construction and installation and potential health concerns.
The swimming pool market is segmented by type into competition pool, recreational swimming pool, children's swimming pool, private swimming pool and relaxation pool. The recreational swimming pool market was the largest segment of the swimming pool market segmented by type, accounting for 37.79% or $1.34 billion of the total in 2023. Going forward, the relaxation pool segment is expected to be the fastest growing segment in the swimming pool market segmented by type, at a CAGR of 2.92% during 2023-2028.
The swimming pool market is segmented by material into fiberglass, concrete, vinyl and other materials. The concrete market was the largest segment of the swimming pool market segmented by material, accounting for 46.02% or $1.63 billion of the total in 2023. Going forward, the fiberglass segment is expected to be the fastest growing segment in the swimming pool market segmented by material, at a CAGR of 2.48% during 2023-2028.
The swimming pool market is segmented by end user into residential swimming pool, commercial swimming pool and public swimming pool. The residential swimming pool market was the largest segment of the swimming pool market segmented by end user, accounting for 52.23% or $1.85 billion of the total in 2023. Going forward, the commercial swimming pool segment is expected to be the fastest growing segment in the swimming pool market segmented by end user, at a CAGR of 2.46% during 2023-2028.
The swimming pool market is segmented by grade into ordinary swimming pool and heated swimming pool. The ordinary swimming pool market was the largest segment of the swimming pool market segmented by grade, accounting for 69.48% or $2.47 billion of the total in 2023. Going forward, the heated swimming pool segment is expected to be the fastest growing segment in the swimming pool market segmented by grade, at a CAGR of 2.48% during 2023-2028.
The swimming pool market is segmented by construction into on or above ground and in-ground. The in-ground market was the largest segment of the swimming pool market segmented by construction, accounting for 73.10% or $2.6 billion of the total in 2023. Going forward, the on or above ground segment is expected to be the fastest growing segment in the swimming pool market segmented by construction, at a CAGR of 2.50% during 2023-2028.
North America was the largest region in the swimming pool market, accounting for 34.20% or $1.21 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the swimming pool market will be Asia Pacific and South America where growth will be at CAGRs of 2.69% and 2.45% respectively. These will be followed by Eastern Europe and Middle East where the markets are expected to grow at CAGRs of 2.33% and 2.19% respectively.
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. Hayward Holdings, Inc. was the largest competitor with a 11.16% share of the market, followed by LATHAM GROUP, Inc. with 8.37%, Waterco Limited with 0.83%, LASWIM with 0.70%, Blue Haven Pools & Spas with 0.39%, Cody Pools Inc. with 0.15%, Shasta Pools & Spas with 0.06%, Intex Development Co. Ltd with 0.02%, Presidential Pools & Spas with 0.020% and Imperial Pools, Inc. with 0.017%.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 319 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $3.6 Billion |
| Forecasted Market Value (USD) by 2033 | $4.4 Billion |
| Compound Annual Growth Rate | 2.2% |
| Regions Covered | Global |
Major Market Trends
- Introduction of Advanced Robotic Pool Cleaners Enhancing Maintenance Efficiency and Performance
- New Pool Temperature Systems Combining Heating and Cooling Technologies in a Single Device
- Enhancing Operational Reach and Market Footprint With New Regional Expansions
- Strategic Partnerships and Collaborations Among Major Players
- New Pool Product Lines Elevating Aesthetic and Functional Choices for Home Building Projects
Opportunity Analysis
- The top opportunities in the swimming pool market segmented by type will arise in the recreational swimming pool segment, which will gain $155.26 million of global annual sales by 2028.
- The top opportunities in the swimming pool market segmented by material will arise in the concrete segment, which will gain $157.98 million of global annual sales by 2028.
- The top opportunities in the swimming pool market segmented by end user will arise in the residential segment, which will gain $191.95 million of global annual sales by 2028.
- The top opportunities in the swimming pool market segmented by grade will arise in the ordinary swimming pool segment, which will gain $250.29 million of global annual sales by 2028.
- The top opportunities in the swimming pool market segmented by construction will arise in the in - ground segment, which will gain $266.02 million of global annual sales by 2028.The swimming pool market size will gain the most in the USA at $104.73 million.
Competitive Landscape and Company Profiles
- Hayward Holdings, Inc
- Company Overview
- Products and Services
- Business Strategy
- Financial Overview
- Waterco Limited
- LASWIM
- Blue Haven Pools & Spas
Other Major and Innovative Companies
- Cody Pools Inc
- Shasta Pools & Spas
- Intex Development Co. Ltd
- Presidential Pools & Spas
- Imperial Pools, Inc
- Riverbend Sandler Pools
- Compass Ceramic Pools
- Natare Corporation
- Pioneer Pool & Building
- Jetform Swimming Pools
- All Seasons Pools Inc
- Arrdev Pools
- Juliano'S Pools
- Albixon
- Parrish Pools
For more information about this report visit https://www.researchandmarkets.com/r/fj0khi
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
