LONDON, March 27, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Swimming Pool Construction Global Market Report 2024, the swimming pool construction market has demonstrated steady growth in recent years, buoyed by increasing demand for home aesthetic improvement and lifestyle enhancements. Market analysis indicates that the swimming pool construction market size is projected to increase from $7 billion in 2023 to $7.27 billion in 2024, boasting a compound annual growth rate (CAGR) of 3.8%. Furthermore, the swimming pool construction market is anticipated to grow to $8.14 billion by 2028, showcasing a CAGR of 2.9%.
Growing Emphasis on Home Aesthetic Enhancement
The upward trajectory of the swimming pool construction market can be attributed to several factors, including the real estate development boom, rising disposable income, wellness and lifestyle trends, and the growth of the tourism and hospitality industry. In the forecast period, growing demand for customization, sustainable practices, and pandemic-driven trends are expected to drive market growth. Major trends include innovations in pool design, smart pool technologies, advancements in sustainable and eco-friendly pool design, and alternative water treatment methods.
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Focus on Graphene-Enhanced Swimming Pools
Leading companies in the swimming pool construction market, such as Aqua Technics Pools and Arch Amenities Group, are spearheading innovation through the introduction of graphene-enhanced swimming pools. These pools leverage graphene technology to enhance shell strength and durability, reducing cracking and warping. For instance, Aqua Technics Pools launched Graphene Nano-Tech Swimming Pools, incorporating microscopic amounts of graphene into the pool shell's resin. Strategic acquisitions, such as Arch Amenities Group's acquisition of NYS Pool Management, enable companies to expand their pool services and cater to a broader spectrum of clients.
North America Leads Market, Asia-Pacific Emerges as Fastest-Growing Region
North America emerged as the largest region in the swimming pool construction market in 2023, with Asia-Pacific expected to be the fastest-growing region in the forecast period. The swimming pool construction market is segmented by construction type into above-ground and in-ground pools, by material into concrete and fiberglass, and by end-user into residential and non-residential sectors.
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The swimming pool construction market is poised for steady growth, driven by increasing emphasis on home aesthetic improvement and lifestyle enhancements. Major players continue to innovate, introducing graphene-enhanced swimming pools and leveraging sustainable practices to meet evolving consumer demands. With diverse opportunities across regions and segments, the swimming pool construction market presents promising prospects for stakeholders and industry participants.
Swimming Pool Construction Global Market Report 2024 by The Business Research Company provides insights on the swimming pool construction market size, swimming pool construction market segments, swimming pool construction market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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