Increasing Demand for Luxury in the Hospitality Sector is Driving The Growth of The Global Swimming Pool Construction Market in the Forecast Period of 2021-2026
The new report by Expert Market Research titled, ‘Global Swimming Pool Construction Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2021-2026’, gives an in-depth analysis of the Global Swimming Pool Construction Market, assessing the market based on its segments like material type, type, end-user, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD xx Billion
- Forecast CAGR (2021-2026): 3.0%
Growth in the premium construction sector is a major factor for the growth of the market globally. Increasing disposable income of the people and the increasing number of ultra-rich people is driving the swimming pool construction industry. The ultra-rich people construct swimming pools in their residential buildings as well as uses spas, swimming pools, and gym facilities during traveling. Continuous growth in the tourism sector globally is also expected to drive the market in the near future. Moreover, the construction of swimming pools in educational institutions will also escalate the demand for swimming pool construction materials. Besides, swimming pools require regular maintenance, which generates the demand for construction materials and is further lubricating the market growth. However, the COVID-19 pandemic has negatively affected the market due to the negative market of tourism globally.
Industry Definition and Major Segments
A swimming pool is an artificially made tank where water is stored for recreation activities, bathing, and competitive swimming or diving. It can be above ground or underground. The material used for the construction of the swimming pool including concrete, steel frame, and fiberglass, are referred to as swimming pool construction materials.
The material used in swimming pool construction include:
The market, based on type, can be divided into:
- Above Ground
- In-Ground
The market can be bifurcated by end-user into:
- Residential
- Non-residential
The regional markets for the Global Swimming Pool Market can be separated into:
- North America
- Canada
- United States of America
- Europe
- UK
- Germany
- France
- Italy
- Other
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
- Latin America
- Brazil
- Argentina
- Mexico
- Others
- Middle East & Africa
- Saudi Arabia
- Nigeria
- South Africa
- Others
Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/swimming-pool-construction-market
Market Trends
Substantial demand for premium housing in developed economies such as the US, Germany, and rising in developing countries, such as India, Mexico, and Brazil, among others, is escalating the market growth. Moreover, after the COVID-19 pandemic, growth in the tourism sector is expected to provide a steady growth to the hospitality industry hence non-residential segment will witness significant growth for a couple of years. Moreover, a trend of increased physical activities is expected to be witnessed in the future to increase immunity against COVID-19 which will further augment the growth of the swimming pool. Moreover, increasing government focus to promote swimming as a sport especially in the emerging economies and the development of water and adventure sports park will also augment the market growth during the forecast period. Furthermore, the introduction of smart technologies for swimming pool maintenance is also expected to boost the growth of the swimming pool construction industry.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Key Market Players
The major players in the market include Aloha Pools Ltd., Aquamarine Pools, Concord Pools and Spas, Leisure Pools, Millennium Pools Pvt. Limited, Platinum Pools, Presidential Pools, Spas & Patio among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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