Portland, OR, April 13, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global swimming pool construction market garnered $6.77 billion in 2019, and is expected to reach $7.39 billion by 2027, witnessing a CAGR of 3.8% from 2020 to 2027. The report provides detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, competitive scenario, and regional landscape.
Rise in the number of gyms and health centers and increase in construction of luxurious hotels fuel the growth of the global swimming pool construction market. However, high costs of construction and maintenance hinder the market growth up to some extent. Contrarily, implementation of IoT in swimming pool systems is projected to present new opportunities in the market.
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Covid-19 Scenario:
- New construction activities and completion of ongoing projects either stopped or slowed down due to the lockdown imposed by governments during the Covid-19 pandemic.
- In addition, gyms and sports clubs were closed to avoid spread of Covid-19. So, this led to stoppage of construction of new swimming pools.
- During the post-lockdown, many restrictions were eased off, which in turn, led to restart of construction activities of swimming pools in gyms, sports clubs, and residential buildings.
The research offers a detailed segmentation of the global swimming pool construction market based on material, construction type, end user, and region.
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By material, the concrete segment held the largest market share, accounting for nearly three-fourths of the total market share in 2019, and is projected to maintain its lead position by 2027. However, the fiberglass segment is expected to witness the highest CAGR of 5.3% from 2020 to 2027.
By construction type, the above-ground segment is estimated to manifest the fastest CAGR of 4.3% from 2020 to 2027. However, the in-ground segment contributed to the highest market share, accounting for more than four-fifths of the global swimming pool construction market in 2019, and is expected to maintain its leadership status by 2027.
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By region, North America accounted for the highest share in 2019, contributing to nearly three-fifths of the total market share, and will maintain its highest contribution in terms of revenue throughout the forecast period. However, LAMEA is expected to register the highest CAGR of 5.2% during the forecast period.
Leading Players:
Leading players of the global swimming pool construction market analyzed in the research include Aloha Pools Ltd., Concord Pools and Spas, Aquamarine Pools, Millennium Pools Pvt. Ltd., Leisure Pools, Natare Corporation, Myrtha Pools, Presidential Pools, Platinum Pools, Spas & Patio, and Southern Poolscapes.
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