Swimming Pool Construction Market

Market Overview

The global swimming pool construction market size was valued at USD 8.1 billion in 2022 and is projected to reach USD 8.56 billion in 2023. It is expected to reach USD 12.4 billion by 2031, growing at a CAGR of 4.1% during the forecast period (2023–2031). 

The global swimming pool construction market includes building new pools and renovating old pools in residential and commercial buildings. Concrete, fiberglass, and vinyl liner are used to construct swimming pools in standard shapes and sizes or according to the order. The type of construction offered is either in-ground or above-ground, depending on the requirements. Due to the rise in the number of diseases, more people are becoming aware of the importance of fitness. This has led to constructing new gyms with swimming pools and renovating old gyms and pools with new equipment. A rise in travel and tourism worldwide has also led to building unique hotels, renting bungalows, and renovating old hotels and bungalows with swimming pools.

Market Dynamics

Drivers

• Rising Health Awareness Among People

Instances of health problems and mental illnesses are increasing due to improper work-life balance. Consequently, people are becoming more aware of the importance of exercise and fitness, increasing the construction of gyms and swimming pools. For example, in 2019, roughly 2,000 gyms/health clubs and 750 swimming pools opened in the US. Swimming pools improve cardiovascular strength and physical health. They also reduce anxiety and depression and uplift mood. These health benefits are expected to boost the growth of the swimming pool construction market.

• Booming Construction of Hotels

The tourism business has grown swiftly, increasing the demand for hotel accommodations. Consequently, key market players are focusing on improving hotels' aesthetic appeal by investing in swimming pools to attract more travelers. Tourism boosts the demand for goods and services, increasing the national GDP. This increase in GDP suggests that people are spending on travel and luxuries. Therefore, there is an increase in the construction of hotels to meet the growing demand and, in turn, spur the growth of the swimming pool construction market.

Restraint

• High Construction and Maintenance Costs

Swimming pools are hard to build due to their complex and precision work and water holding capacity. The walls need to be watertight to prevent water leakage from the pool. This requires high-quality materials, which are more expensive than regular-quality materials. Furthermore, the water must be regularly filtered using sand, cartridge, and vertical grid filters. The walls also require cleaning to prevent dirt and moss growth. Consequently, the construction and maintenance of swimming pools require a lot of energy, time, and money, which hampers market growth.

Opportunity

• Rapid Adoption of the Internet of Things (IoT)

IoT sensors and platforms offer many features to maintain the cleanliness of the swimming pools efficiently. This will save maintenance cost and time as they can be used in systems that act as filters and temperature controllers. These systems can sense the water contamination level and clean it automatically, saving energy and time. IoT systems also control lights and water heaters. Therefore, IoT will make it cheaper to maintain and run swimming pools, creating new growth opportunities.

Regional Analysis

The global swimming pool construction market is classified into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America dominates the global swimming pool construction market and is expected to grow at a CAGR of 4.1% during the forecast period. The US, Canada, and Mexico are the three major countries in the swimming pool construction market in North America. The high regional share is attributed to the flourishing construction of swimming pools in these countries and the improving health awareness among people.

Europe holds the second-largest position in the market. It is expected to grow at a CAGR of 3.8%, accounting for USD 2.6 billion during the forecast period. Many high-end hotel projects are under construction in the UK, Germany, France, and Spain. As tourism is increasing in Europe, there is a need for the construction of hotels. Over 450 new high-end hotel projects with multiple pools are being built in Europe, and they are expected to be open in the coming years, which can lead to an increase in the market share.

Asia-Pacific is the fastest-growing region during the forecast period. Asia-Pacific is home to two of the most populated countries, China and India. The market is driven by countries' GDP and tourism. Furthermore, there has been a rise in the construction of private homes, hotels, and other commercial properties with swimming pools in Asia-Pacific.

Segmental Analysis

The global swimming pool construction market share is segmented by material and construction.

Insights into Type

Based on type, the global swimming pool construction market is classified into Concrete, Fiberglass, and Steel Frames.

Concrete holds the largest market share and is expected to grow at a CAGR of 3.8% during the forecast period. Concrete is strong and can withstand a lot of water pressure and thus making it the first choice for the construction of swimming pools. Concrete also makes it easy to build big swimming pools with its various properties. Concrete swimming pools offer considerable flexibility to experiment with different designs and colors.

Swimming pools made of Fiberglass last longer, have less construction time, and require less cost in maintenance than concrete pools. With these benefits, many manufacturers pre-build small and medium-sized pools in some of the most popular and complex shapes. This saves time during the installation process and lowers the project cost. These benefits of fiberglass will surely increase the growth of the swimming pool construction market.

Insights into Construction Type

Based on construction type, the global swimming pool construction market is segmented into Above-Ground and In-Ground.

In-Ground swimming pools acquire the highest market share and are expected to grow at a CAGR of 4.6% during the forecast period. Above-ground swimming pools are made with walls made of concrete, fiberglass, or vinyl liner and a steel frame. These pools are easy to build on the floors of above-ground homes and businesses in high-rise buildings. In contrast, Above-Ground swimming pools are constructed with the most advanced technology that provides the best quality. These pools are cost-efficient and easy to maintain.

Insights into End-User

The functions of the non-residential swimming pool construction market segment are more diverse. Public institutions, hotels, resorts, fitness centers, and water parks, as well as academic and athletic swimming pools, are encompassed within this category. Morover, the expansion of the wellness industry, developments in tourism trends, government investments in public amenities, and changing consumer demands for recreational facilities factors are collectively driving the segment growth. In addition, this category frequently includes water-based therapy and rehabilitation centers, which necessitate the construction and design of specialized pools to accommodate their clients' requirements.

Recent Developments

• May 2022- Myrtha Pools partnered with CNB in Barcelona to equip new construction work for swimming pools. 
• March 2022- The Concord Pools and Spas expanded their business in the Asia-Pacific region to expand their firm globally.
• January 2022- Leisure Pools Group Inks deal to purchase Groupe Beneteau manufacturing facility in Marion, South Carolina.