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Pool And Spa Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Pool And Spa Market
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According to The Business Research Company's, The pool and spa market size has grown strongly in recent years. It will grow from $19.44 billion in 2023 to $20.67 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increasing home leisure investments as people spent more time at home, a rise in demand for home pools and spas due to travel restrictions, growth in awareness of the benefits of hydrotherapy and wellness, increasing consumer spending on luxury home amenities, expansion of suburban and residential areas.
The pool and spa market size is expected to see strong growth in the next few years. It will grow to $26.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing consumer focus on mental and physical well-being, development of solar-powered and water-saving pool and spa solutions, growth in medical and rehabilitation uses for pools and spas, continued expansion of urban residential projects with luxury amenities, rising middle-class income levels driving demand for home improvement. Major trends in the forecast period include the integration of IoT and AI for remote control, automation, and maintenance, solar-powered heating and filtration systems, customizable pool and spa designs, insulated and heat-retaining pool covers, and innovative solutions for rooftop and indoor installations.
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Market Drivers and Trends:
The expanding wellness and spa tourism industry is expected to propel the growth of the pool and spa market going forward. The wellness and spa tourism industry involves travel to enhance health and well-being through activities such as spa treatments, fitness programs, and holistic wellness experiences. The wellness and spa tourism industry is growing due to increasing consumer demand for stress relief, holistic health treatments, and overall well-being experiences. Pools and spas are integral to the wellness and spa tourism industries, offering therapeutic water treatments and relaxation experiences that enhance overall well-being. For instance, in January 2023, according to a report published by the American Med Spa Association, a national community of medical spa professionals, a single-location medical spa generated $1,982,896 in revenue in 2022, an increase of $260,345 compared to $1,722,551 in 2021. Therefore, the expanding wellness and spa tourism industry is driving the pool and spa market.
Major companies operating in the pool and spa market are developing advanced solutions, such as smart pool management systems, to enhance user convenience and efficiency. Smart pool management systems are automated technologies that monitor and control various aspects of pool maintenance, such as water temperature, chemical balance, filtration, and cleaning schedules, often accessible remotely via digital platforms. For instance, in November 2022, Aiper, a US-based robotic pool cleaner provider, launched Seagull SE, a next-generation Seagull Series suite of products. The Seagull SE boasts dual-drive motors and bottom scrubbers for enhanced cleaning performance, along with a self-parking feature for added convenience. It charges quickly in about 2.5 hours, with LED indicators to inform users about battery life. Designed with eco-friendliness in mind, it uses a rechargeable lithium battery and a nylon holding tray, eliminating the need for disposable bags.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Kohler Co, Pentair plc, Fluidra S.A., Roca Group, BWT Holding GmbH, Villeroy and Boch, Jacuzzi Brands LLC, Duravit AGa, Bullfrog Spas, Jaquar & Company Private Limited., Harvia Plc, Coast Spas Manufacturing Inc., SAWO Inc., TyloHelo Inc, Arctic Spas Ltd, Blue Haven Pools and Spas, Narvi Oy, KLAFS GmbH & Co. KG, Unbescheiden GmbH, Physiotherm Infrarotkabinen
Pool And Spa Market 2024 Key Insights:
• The pool and spa market size is expected to see strong growth in the next few years. It will grow to $26.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• The Synergistic Growth Of The Wellness And Spa Tourism Industry And The Pool And Spa Market
• Advanced Management Systems Enhanced Pool And Spa Market
• North America was the largest region in the pool and spa market in 2023
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