Pool equipment is a set of components designed for the installation, maintenance, & operation of pools, viz., the management of sanitization, filtration, & circulation of pool water. Various initiatives by governments of different countries worldwide toward promoting their respective tourism sectors, coupled with the rapidly increasing number of hotels, are leading to more swimming pool constructions and, in turn, is boosting the pool equipment industry.
The Global Pool Equipment Market is anticipated to grow at a CAGR of 12% during the forecast period, i.e., 2021-26. The growth of the market is likely to be driven primarily by the increasing trend of personal swimming pools owing to the burgeoning awareness, especially after the Covid-19 pandemic, regarding doing regular exercises to boost the immune system of the body & lead a healthy life. It, in turn, has resulted in the construction of new gyms & renovation of old ones equipped with swimming pools.
In addition, the rapidly expanding tourism & hospitality industries and the growing urban population worldwide have increased the demand for rented bungalows & luxurious hotels equipped with swimming pools, thereby driving the pool equipment market.
Moreover, an upsurge in the disposable income of people has led to improving living standards & their increased participation in swimming activities, which, in turn, has surged the demand for swimming pools in house backyards. Furthermore, the growing number of water sports enthusiasts are also contributing considerably to the pool equipment market growth globally.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, The UK, France, Spain, Italy and Others|
|Asia-Pacific: China, India, Japan, South Korea, Australia, Vietnam, Indonesia, Others|
|South America: Brazil, and Argentina|
|Middle East & Africa: UAE, Saudi Arabia, Qatar|
|Key Companies Profiled||Fluidra SA, Pentair PLC, Pool Corporation, WaterCo., Maytronics Ltd, Emaux Water Product Type, Adolph Kiefer & Associates, LL, Desjoyaux, Hayward Industries, Inc., Waterco, Laswim Pool and SPA equipment Co. Ltd.|
|Unit Denominations||USD Million/Billion|
Impact of Covid-19 on the Global Pool Equipment Market
In 2020, the Covid-19 pandemic affected the Global Pool Equipment Market. The stringent movement restrictions imposed by governments of different countries worldwide reduced the participation of people in sports activities, deferred the construction activities, and resulted in a significant decline in the tourism sector. However, with the upliftment of lockdown, people have begun moving out and using swimming pools. Although, there are ever-increasing concerns regarding cleanliness, which is driving the demand for pool sanitization equipment and contributing notably to the overall market growth.