Size of the Swimming Pool Industry: 33.4 Billion (2020)
The swimming pool industry has been growing at a steady pace over the past few years. With an increasing number of homeowners looking to enhance their outdoor living spaces, the demand for swimming pools has surged. According to a report by ResearchAndMarkets.com, the global swimming pool market size was valued at USD 33.4 billion in 2020 and is expected to reach USD 45.6 billion by 2027, growing at a CAGR of 4.5% from 2020 to 2027. In this article, we’ll take a closer look at the size of the swimming pool industry, the current trends in the market, and the growth opportunities.
Size of the Swimming Pool Industry
The swimming pool industry is a significant contributor to the global economy. It comprises various players, including manufacturers, distributors, builders, and service providers. In terms of the number of swimming pools, the United States has the largest swimming pool market, with an estimated 10.4 million residential swimming pools and over 300,000 public swimming pools. This is followed by Australia, which has the highest per capita ownership of residential swimming pools in the world.
In terms of revenue, the global swimming pool market is dominated by North America, followed by Europe and the Asia Pacific. The increasing adoption of fiberglass pools, which are easy to install and require minimal maintenance, is one of the major factors driving the growth of the swimming pool industry. Fiberglass pools are durable, cost-effective, and energy-efficient, which makes them a popular choice among homeowners.
Current Trends in the Market
The swimming pool industry is witnessing several trends that are shaping the market’s growth trajectory. One of the most significant trends is the increasing demand for smart pools. Smart pools are equipped with sensors and automation technology that allows homeowners to control their pool’s temperature, lighting, and filtration system remotely. This technology is designed to enhance the pool experience and make it more convenient for homeowners.
Another trend that is gaining momentum in the swimming pool industry is the use of natural pools. Natural pools use a combination of plants and filters to keep the water clean and free of chemicals. These pools are eco-friendly and offer a more natural swimming experience. Natural pools are becoming increasingly popular in Europe and are expected to gain popularity in other regions as well.
Additionally, the pandemic has had a significant impact on the swimming pool industry. With people spending more time at home, there has been a surge in demand for swimming pools. The pandemic has also led to a shift in consumer preferences, with homeowners opting for larger and more luxurious swimming pools that offer a resort-like experience. This trend is expected to continue in the post-pandemic era as well.
Opportunities for Growth
The swimming pool industry presents several opportunities for growth, driven by factors such as increasing consumer awareness, technological advancements, and the rising demand for luxury amenities.
One of the biggest opportunities for growth in the swimming pool industry is the increasing demand for energy-efficient and eco-friendly swimming pools. With the growing concern over environmental issues, more and more homeowners are opting for sustainable swimming pool solutions. Manufacturers are investing in research and development to create eco-friendly products that are in line with consumer preferences.
Another area of opportunity in the swimming pool industry is the increasing adoption of automation and smart technology. The use of sensors and automation technology can help homeowners control their pool’s temperature, lighting, and filtration system remotely, which enhances the pool experience and makes it more convenient. Manufacturers are investing in the development of smart pools to cater to this growing demand.
The rising demand for luxury amenities is another opportunity for growth in the swimming pool industry. With an increasing number of homeowners looking to create a resort-like experience, the pool industry is in high demand for high-end materials and designs.
Another opportunity for growth in the swimming pool industry is the rise of environmentally sustainable options. As consumers become more aware of the impact of their choices on the environment, they are seeking out products and services that are eco-friendly. This trend is also evident in the swimming pool industry, with more and more pool owners looking for sustainable options.
For example, some pool companies are now offering eco-friendly pool cleaning and maintenance services, using natural and biodegradable cleaning products. Additionally, there are now options for energy-efficient pool equipment, such as pumps and heaters, which can help reduce energy consumption and lower costs for pool owners.
Another area of growth is in the technology used to manage and maintain swimming pools. Smart pool technology, such as automated pool cleaners and systems that can monitor and adjust water chemistry, is becoming increasingly popular among pool owners. These technological advancements not only make pool maintenance more efficient but also help ensure optimal safety and cleanliness for swimmers.
The growth of the swimming pool industry has also created a demand for skilled professionals in the field. This includes not only pool builders and installers but also technicians who specialize in pool repair and maintenance. As the industry continues to expand, the need for qualified and experienced professionals will only increase.
However, with growth also comes challenges for the swimming pool industry. One major issue is the shortage of materials and labor in the wake of the COVID-19 pandemic. Many industries have experienced disruptions in their supply chains, and the swimming pool industry is no exception. The increase in demand for swimming pools has led to a shortage of materials, such as pool pumps and filters, and has also made it difficult to find skilled labor to build and maintain pools.
Another challenge facing the industry is the rising costs of materials and labor. As demand for swimming pools continues to grow, prices for materials and labor have also increased. This can make it difficult for some consumers to afford the upfront costs of building a pool or the ongoing maintenance costs.
Additionally, there are concerns about the environmental impact of swimming pools, particularly in areas where water is scarce. Pools require a significant amount of water to fill and maintain, which can be a strain on local water resources. However, as mentioned earlier, there are now sustainable options available for pool owners, such as water-saving features and eco-friendly cleaning products.
In conclusion, the swimming pool industry is experiencing significant growth, with demand for swimming pools and related services at an all-time high. Growth opportunities include the rise of sustainable options, advancements in technology, and the increasing demand for skilled professionals in the field. However, the industry also faces challenges such as supply chain disruptions, rising costs, and concerns about environmental impact. With careful planning and consideration of these challenges, the swimming pool industry can continue to thrive and provide a source of relaxation and enjoyment for generations to come.