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Swimming Pool Construction Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033
Swimming Pool Construction Market Size
According to The Business Research Company's, the swimming pool construction market size has grown steadily in recent years. It will grow from $7 billion in 2023 to $7.27 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to real estate development boom, increasing disposable income, wellness and lifestyle trends, tourism and hospitality industry growth, outdoor living space trends.
The swimming pool construction market size is expected to see steady growth in the next few years. It will grow to $8.14 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to growing demand for customization, sustainable and eco-friendly practices, urbanization and high-rise developments, health and wellness considerations, pandemic-driven trends. Major trends in the forecast period include innovations in pool design, smart pool technologies, advancements in pool technology, sustainable and eco-friendly pool design, saltwater pools and alternative water treatment.
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Market Drivers and Trends:
The rise in the construction of hotels is expected to propel the growth of the swimming pool construction market going forward. A hotel is a commercial establishment that provides lodging accommodations, typically on a short-term basis, to guests or travelers, offering amenities and services. Integrating swimming pools into hotel construction is essential to enhance the guest experience, increase the hotel's overall appeal, and improve its market competitiveness. For instance, in October 2023, according to Lodging Econometrics, a US-based hospitality services provider, in Q3 2023, the hotel construction pipeline in Canada had 275 projects with 37,780 rooms, which is up by 5% in projects and 8% in rooms year-over-year (YOY). Moreover, in Q3, Canada saw 22 new project announcements with 2,816 rooms. Therefore, the rise in the construction of hotels is driving the growth of the swimming pool construction market.
Major companies operating in the swimming pool construction market are increasing their focus on introducing graphene enhanced swimming pools to gain a competitive edge in the market. Graphene-enhanced swimming pools are a new generation of fiberglass pools built using technology that incorporates microscopic amounts of graphene into the pool shell's resin. For instance, in June 2021, Aqua Technics Pools, a US-based manufacturer of fiberglass swimming pools, launched Graphene Nano-Tech Swimming Pools. It is a single layer of carbon atoms arranged in a honeycomb lattice, possesses exceptional properties that enhances pool shell strength and durability, reducing cracking and warping.
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Major Key Players of the Market:
Latham Pool Products Inc., Zodiac Pool Systems, Piscines Desjoyaux SA, Cody Pools, Narellan Pools, Blue Book Services, Compass Pools, Leisure Pools, Myrtha Pools, Platinum Pools, Natare Corporation, Blue Haven Pools, Albatross Pools, Millennium Pools Pvt. Ltd., Concord Pools and Spas, Premier Pools and Spas, Riverbend Sandler Pools, Pool Corporation, Aloha Pools Pty Ltd, Pool Town, Aquamarine Pools, Presidential Pools, Spas & Patio, Southern Poolscapes, Tranquility Pools, Excel Pool Servic, Paragon Pools, Hawaiian Pools and Waterscapes, Cody Pools Inc., California Pools
Swimming Pool Construction Market 2024 Key Insights:
• The swimming pool construction market is expected to grow to $8.14 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%.
• Hotel Construction Boom Fuels Surge In Swimming Pool Construction Market
• Companies Dive Into Graphene Technology For Enhanced Swimming Pool Construction
• North America was the largest region in the swimming pool construction market in 2023
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