Market Trends of Swimming Pool Industry
Increasing Residential Construction Projects is the Primary Driver for Market
The market for swimming pool construction is driven importantly by the rising number of residential construction projects in the world. The continued recovery of the residential construction industry in the U.S., major European countries, China, India and several other countries across the world is a positive growth factor for the global construction of swimming pools. Attractive amenities in residential complexes draw attention to property buyers who influence builders to include a swimming pool and gym facilities in their projects. Additionally, a growing number of global travelers and a booming tourism industry, supported by an increase in the income and tourism spending, are expected to increase the hotel output. This will further attract investment in the growing hotel industry and is expected to support the growth of the construction market for swimming pools. Rising income, budget for home purchases and rising demand for attractive amenities have an impact on the construction of swimming pools, spas, and gyms in residential complexes. This is the main driver for the growth of the global market for residential pool construction. Residential swimming pool construction is the largest market compared to commercial pool construction and is expected to maintain its dominant position throughout the forecast period in the study. This segment includes swimming pools that are built in the residential complexes, bungalows, row houses and other types of individual houses. However, increasing consumer spending on tourism is affecting the construction of new hotels.
North America Stands Out as the Largest Market in Terms of Value
North America is the largest market for swimming pool construction for the past few years. Post the economic slowdown in 2012, the U.S. construction industry is steadily gaining pace with the increasing residential as well as commercial construction activities. Swimming pool construction in the U.S. is expected to witness steady growth of more than 4%. The Asia Pacific and the Middle East regions are also expected to witness considerable growth in luxurious residential construction represents a positive outlook for swimming pool manufacturers in these regions.
