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.
Based on Pool Type:
Of both types, In-ground swimming pools attained the highest share of the Global Pool Equipment Market in the previous few years. In-ground swimming pools are the most preferred choice globally among both homeowners & contractors. Their installation provides flexibility to design them in any shape, dimension, color, or plaster. Concrete, fiberglass, metal, natural stone, or plastic are the materials used for constructing in-ground pools, which may be of a custom size & shape.
As a result, nowadays, end-users are increasingly requesting customized in-ground swimming pools with frills like pool deck, lighting, temperature control, etc. Moreover, they are comparatively stronger to tolerate extreme weather conditions than above-ground pools, which are more susceptible to damage, collapse, leaks, & breaks. Hence, in-ground pools are projected to remain trending in the global pool equipment market through 2026.
Based on End-User:
Here, the residential sector acquired the largest share in the Global Pool Equipment Market. It owes to the increasing number of residential construction activities, mainly across the US, major European countries, China, India, & several other countries worldwide, on account of the rising income & budgets for home purchases.
Moreover, the burgeoning focus of builders on constructing swimming pools in residential complexes to attract property buyers owing to changing consumer lifestyles and the mounting demand for attractive amenities in housing spaces is leading to the emerging trend of swimming pools in apartments or within the society premises. Hence, based on these aspects, the market size is the highest in the residential sector, and the same trend is likely to be followed throughout the forecast period.
Geographically, the Global Pool Equipment Market expands across:
Of all regions globally, North America grabbed the largest share in the Pool Equipment Market and is likely to retain its leading position in the coming years. It owes to numerous swimming pool fanatics, the extensive presence of well-established swimming pool infrastructure, and the growing number of pool equipment manufacturing units across the region.
With the high disposable income, people in North America tend to live luxurious lives, i.e., leading to the burgeoning developments of swimming pools in villas, apartments, & homes, thereby contributing to the regional market growth. Moreover, the surging adoption of advanced technologies, easy equipment availability, and massive private sector investments are other crucial aspects driving the regional market.
Across the region, the US is the leading market owing to the rapidly growing residential & commercial construction activities, the well-developed infrastructure, and the booming wellness tourism sector. Furthermore, pool cleaners & chemicals are gaining immense popularity in the country, primarily due to the introduction of robotic pool cleaners, which provide various benefits to customers, including environmental friendliness, water & electricity savings, less maintenance, etc.
Key Driver: Surging Demand for Safe & Aesthetic Swimming Pool Environment
After the advent of Covid-19 in 2020, the concern for safety & cleanliness is at the highest priority among consumers. As a result, there's a burgeoning demand for a safe & aesthetic swimming pool environment, which is the prime aspect driving the Global Pool Equipment Market through 2026. Moreover, rapid urbanization and the mounting need for private swimming pools have resulted in significant demand for pool equipment globally. Besides, with the rapidly expanding tourism & hospitality industries, especially across European countries, more investments are being attracted in the construction of swimming pools. Furthermore, increased inclination toward sports activities and the mounting awareness among people about leading a healthy lifestyle are other crucial aspects projected to augment the overall market growth in the coming years.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Pool Equipment Market is expecting around 12% CAGR during 2021-26.
A. In-ground swimming pools are expected to generate lucrative growth opportunities for the leading players in the Global Pool Equipment Market during 2021-26.
A. The mounting demand for safe & clean swimming pools and the rapidly expanding tourism & hospitality industries worldwide are the key growth opportunities projected to drive the Global Pool Equipment Market in the coming years.