Global Swimming Pool Market Size is Expected to Grow to $29.75 Billion by 2028

Global Swimming Pool Market Overview

According to Global Market Monitor, the global swimming pool market size is expected to grow to $29.75 billion by 2028 with a CAGR of 3.65% from 2023 to 2028.

Swimming Pool Market Drivers

A significant driver of the swimming pool market is the increasing number of residential construction projects across the globe. The continued recovery of the residential construction industry in the United States, major European countries, China, India, and other countries around the world is a positive growth factor for the global swimming pool market. Rising incomes and home-buying budgets, as well as rising demand for attractive amenities, have had an impact on the construction of swimming pools, spas, and gyms in residential areas, influencing builders to include swimming pool and gym facilities in their projects. As the residential construction market recovers, rising demand for new and modern residential units with lucrative amenities will drive the swimming pool market. The enhancement of health awareness, as the internal driving force of consumers, provides a good environment for the development of the swimming pool market.

Rising Cost Hinders the Development of the Swimming Pool Market.

The main raw materials of swimming pool products include fiberglass, vinyl, concrete, etc. Raw material prices such as concrete and chemicals are on an upward trend due to various trade restrictions, high production costs, and supply chain issues. The rise in raw materials will hurt swimming pool manufacturers. If the company cannot respond to fluctuations timely, it will cause damage to the production and operations. There is a high cost associated with the installation and maintenance costs of a swimming pool, including regularly changing the water, cleaning the filters, and power consumption by motor pumps. Therefore, the existing financial weakness and the high initial costs can negatively impact the market which hinders the market growth during the forecast period. Additionally, there are many manufacturers of swimming pools, and the industry is fiercely competitive. The barrier to entry in this industry is not high because the equipment has different uses and performances. To a certain extent, it may affect the profitability of the industry.

Drivers	Increase in residential construction projects
	Rising health awareness and growing urbanization
	Product innovation and technological progress
Restraints	Intense industry competition
	Rising labor costs
	Fluctuation in raw material prices