Dublin, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The "Pool & Spa Market by Type (Pools - Lap, Wading, Heated; Spas - Electric, Steam, Sauna, Hydromassage Bath), Accessories (Filters, Chlorinators, Blowers, Cleaners, Covers, Suction Fittings, Pumps), Material and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global pool & spa market is expected to reach USD 23.6 billion by 2027 from an estimated USD 19.1 billion in 2022, at a CAGR of 4.3% from 2022 to 2027.
The growth of the pool & spa market is proportional to the growth of the health awareness among people, which are the primary drivers of growth in demand for recreational and exercise activities.
Apart from this, an increase in the tourism sector and the rising investments in luxury homes after the COVID-19 situation has led to the installation of pools & spas to achieve mental and physical relaxation. As a result, the pool & spa may experience a growth in demand during the forecast period.
Pools: The largest-growing segment by type in the pool & spa market
Based on type, the pools are expected to occupy the largest share in the pool & spa market. Swimming pools are a great addition to any backyard, adding years of enjoyment and fun. Residential swimming pools utilize many different construction methods. Household swimming pools come in all different shapes and sizes.
Commercial swimming pools often come with stringent safety requirements, such as lifeguards on duty, locking gates or limited access. Lap pools can either be indoor or outdoor and have many features such as bulkheads and diving boards and are usually rectangular in shape.
Pools as a feature in hotels are more common in tourist areas or near convention centers. As with the different types of in-ground pools, a lap pool can be constructed in concrete, vinyl, or acrylic sheet. Lap pools are ideal for people with narrow yards.
The increasing population leading to scarcity in availability of wide spaces is likely to drive the market for lap pools. Another major reason have been the lower maintenance costs for the lap pools, which is also a major factor driving the market growth of lap pools in comparison to other type of pools.
Pool Pumps: The largest segment by power rating in pool & spa market
The pool pumps accounted for the largest share in the global pool & spa market, by accessories, in 2022. The accessories are vital for the smooth operation of a pool or spa, and to improve the user experience.
A growth of the pool & spa market will directly drive the demand for these accessories during the forecast period. Pool pumps are used for circulating and filtering water in the pools. A single-speed pump is the simplest, cheapest type of swimming pool pump with no speed settings.
A dual-speed pump offers two settings, a high setting for more demanding tasks like vacuuming and a low setting for everyday duties. A variable-speed pump offers multiple speed options which is used for an energy-efficient setting and helps to save money on electric bill in the process. Variable-speed filters allows to optimize performance and save energy.
Asia Pacific: The fastest-growing region in pool & spa market
Asia Pacific is expected to grow with the highest CAGR during the forecast period. Asia Pacific consists of many of the emerging economies including Japan, India, and China, that are likely to exhibit strong economic growth.
Australia is the top market for pool & spa in the region. The growth in Australia is driven by the increased focus on home renovations and improvements. The hospitality industry is one of the end user that is driving the spa market, owing to the increase in usage of hydrotherapy bathtubs.
Also, the rising popularity of the traditional massage in the region is expected to drive the pool & spa market. The tourism industry is expected to boost up the market in the region due to the increase in construction of hotels and resorts, hence increasing the installation of pool & spa in the region.
The leading players in the pool & spa market include Harvia Group (Finland), Pentair (US), Fluidra (Spain), KLAFS GmbH & Co. KG (Germany), TyloHelo (Sweden).
Premium Insights
- Rising Health Awareness Among People Expected to Drive Market During Forecast Period
- North American Market to Exhibit Highest CAGR During Forecast Period
- Pools Held Largest Share of North American Market in 2021
- Pools to Account for Larger Market Share by 2027
- Saunas to Account for Largest Market Share by 2027
- Lap Pools to Account for Largest Market Share by 2027
- Pool Pumps to Dominate Pool and Spa Market by 2027
Market Dynamics
Drivers
- High Dependency on Tourism and Adventure Activities
- Rising Consumer Awareness About Wellness Therapies
- Increase in Spending Capacity Driving Demand for Luxury Homes
Restraints
- Surging Adverse Environmental Impacts
- High Operating and Maintenance Costs
Opportunities
- Expansion of Construction Industry
Challenges
- Instability in Raw Material Prices
- COVID-19 Impact
- Trends/Disruptions Impacting Customers' Businesses
Revenue Shift and New Revenue Pockets for Pool & Spa Providers
Value Chain Analysis
- Raw Material Providers/Suppliers
- Pool & Spa Component Manufacturers
- Pool & Spa Builders/Aggregators
End-Users
- Post-Sales Services
Technology Analysis
- Automatic Pool Cleaning Systems
- Connected Pool: Iop (Internet of Pools)
Case Study Analysis
- Pioneer Recreation and Sports Centre to Rely on Liqtech's Modern Ceramic Filter Technology
- Problem Statement: February 2022
- Platinum Spas Launched Innovative Energy-Efficient Solution
- Problem Statement: February 2022
Company Profiles
Key Players
- Harvia Group
- Pentair
- Fluidra
- Klafs GmbH & Co. Kg
- Tylohelo
- Roca
- Sawo Inc.
- Kohler Co.
- Arctic Spas
- Jaquar
- Bullfrog Spas
- Coast Spas Manufacturing Inc.
- Btl
- Duravit Ag
- Narvi Oy
Other Players
- Unbescheiden GmbH
- Stas Doyer
- Physiotherm
- Effe
- Leisure Baths Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/wkwa52
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