About Swimming Pool
The global swimming pool market is likely to experience growth during the forecast period. This growth is attributed to the increasing construction of a large number of residential structures and hotels globally. The growth of the market will be primarily driven by urbanization. In 2016, more than half of the global population resided in urban areas, and this is likely to increase by 2021. The growing urbanization will result in the need for a better lifestyle and increase in infrastructure construction. The hectic lifestyles of people will result in a high preference for all amenities within the same infrastructure. This will likely drive the growth of the swimming pool market as swimming pools are becoming one of the most important lifestyle amenities.
Technavio’s analysts forecast the global swimming pool market to grow at a CAGR of 3.91% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global swimming pool market for 2017-2021. To calculate the market size, the report considers the demand for swimming pool equipment.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Swimming Pool Market 2017-2021
Technavio recognizes the following companies as the key players in the global swimming pool market: H. C. Harrington, Hayward Pool Products, Laswin Pool and Spa Equipment, and Swimline
Other Prominent Vendors in the market are: Aladdin Equipment, Carvin, Confer Plastics, Finish Thompson, Intex Recreation, Nidec Motor, Ningbo Linya Swimming Pool & Water Treatment Equipment, Pentair, Pleatco, Pool Tool Company, Raypak, Rola-Chem, Smartpool, SunRunner Pool Equipment, Therm Products, Val-Pak Products, Valterra Products, and Waterco
Commenting on the report, an analyst from Technavio’s team said: “Some of the major factors driving the growth of the global tourism market are the low-cost airlines, a large number of hotels offering accommodation at different prices, and the high spending capability of the population. In addition, there have also been lifestyle changes among individuals. Individuals above 50 years opt for year-round tourism, which is facilitated by the online sales of tourist services. In addition, online websites have started offering dynamic packages, which quote an inclusive price for a tailor-made package requested by the customer upon impulse. The industry is likely to see a rise in the number of trips and travelers worldwide, which is likely to increase the need for accommodation. To attract customers, hotels have started installing swimming pools to increase the aesthetic appeal of hotels. This will likely support the growth of the swimming pool market during the forecast period.”
According to the report, the global economic growth has resulted in large-scale urbanization. According to the UN estimates, as of 2016, 55% of the world's population resides in urban areas, which is likely to increase to more than 62% by 2021. Around 90% of the global urban population is from APAC and Africa. The urban population in APAC is expected to grow from 42% in 2010 to 53% in 2021. The urban population in other developing countries, such as countries in Africa and South America, is expected to grow from 40% in 2010 to 49% in 2021.
Further, the report states that the installation and maintenance costs of a swimming pool are very high. It is expensive to own a swimming pool because of the costs associated with regularly changing the water, cleaning the filters, and power consumption by motor pumps. In addition, skilled and trained individuals are needed to operate swimming pool equipment, which adds to the overall expense. Moreover, many countries face water scarcity because of the worsening of the ecological balance. In countries like Yemen, Libya, and Jordan that have the highest water scarcity, the cost of water is extremely high. Therefore, with the already existing financial weakness, the high initial costs act as a barrier to the growth of swimming pools in most of the developing countries. This limits the revenue inflow of the market.
H. C. Harrington, Hayward Pool Products, Laswin Pool and Spa Equipment, Swimline, Aladdin Equipment, Carvin, Confer Plastics, Finish Thompson, Intex Recreation, Nidec Motor, Ningbo Linya Swimming Pool & Water Treatment Equipment, Pentair, Pleatco, Pool Tool Company, Raypak, Rola-Chem, Smartpool, SunRunner Pool Equipment, Therm Products, Val-Pak Products, Valterra Products, Waterco.