Pool and Spa Market Surging at 6.9% CAGR, Envisioning a Whopping US$ 47.8 Billion by 2034 | Future Market Insights, Inc.
The Pool and Spa Market is witnessing robust growth with increasing consumer demand for leisure amenities. Key trends include smart technology integration and sustainable designs. The growth of the pool & spa market is proportional to the growth of the health awareness among people, which are the primary drivers of growth in demand for recreational and exercise activities.
NEWARK, Del, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The global pool and spa market is anticipated to reach a valuation of *US$ 24.5 billion* in 2024, driven by regulatory compliance and safety standards. The trend is expected to create new opportunities for the market, leading to a projected *CAGR of 6.9%* between 2024 and 2034, and reaching a total valuation of approximately *US$ 47.8 billion* by 2034.A major factor contributing to market growth is the growing trend of wellness tourism, where travellers seek destinations offering experiences that promote health and wellbeing. The industry presents opportunities for collaboration between the travel and hospitality industries and pool and spa service providers.
Integration with smart home technology allows users to control and monitor pool and spa functions remotely via smartphones and other devices. Automation systems for temperature control, lighting, water chemistry, and maintenance scheduling enhance convenience and efficiency, reflecting the broader trend of connected homes and Internet of Things solutions.
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There is a growing need for education and professional development programs to train technicians, designers, and service providers in best practices, new technologies, and industry standards, as the pool and spa industry evolves. Training initiatives and certification programs present opportunities for collaboration between manufacturers, trade associations, and educational institutions to support a skilled workforce and uphold industry excellence.
Multi functional pool designs that accommodate various activities, such as swimming, lounging, exercise, and entertainment, are gaining popularity. Features like built in benches, swim up bars, waterfalls, and integrated fire pits enhance the versatility and appeal of pool environments, offering opportunities for customization and creative design solutions.
*Key Takeaways from the Market Study*
· Global pool and spa market was valued at US$ 22.7 billion in 2023.
· From 2019 to 2023, the market demand expanded at a CAGR of 8.5%.
· The market in Japan is expected to expand at a CAGR of 5.2% through 2034.
· By type, the spas segment to account for a CAGR of 6.6% through 2034.
· The absolute dollar growth of the market is projected to reach a value of US$ 23.3 billion during the forecast period
· The market in the United Kingdom is expected to expand at a CAGR of 8.3% through 2034.
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“Understanding cultural norms, regional aesthetics, and demographic trends enables businesses to tailor products, services, and marketing strategies to diverse market segments and consumer demographics,”-says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights*.*
*Company Portfolio*
· Fluidra is a global leader in the pool and wellness industry, offering a wide array of products and solutions for both residential and commercial applications. Their portfolio includes pool and spa equipment such as pumps, filters, cleaners, and lighting systems, as well as innovative smart technologies for pool management and automation. The solutions of the company focus on sustainability, efficiency, and user experience.
· KLAFS is a renowned manufacturer of high end sauna, steam bath, and spa solutions. While the primary focus of the company lies in sauna and wellness facilities, KLAFS also offers a range of luxury spa products and accessories, including steam generators, relaxation loungers, and innovative spa room designs tailored to meet the needs of upscale residential and commercial clients.
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*Report Scope:*
*Attribute* Details
*Estimated Market Size in 2024* US$ 24.5 billion
*Projected Market Valuation in 2034* US$ 47.8 billion
*Value-based CAGR 2024 to 2034* 6.9 %
*Forecast Period* 2024 to 2034
*Historical Data Available for* 2019 to 2023
*Market Analysis* Value in US$ billion
*Key Regions Covered* · North America
· Latin America
· Western Europe
· Eastern Europe
· South Asia and Pacific
· East Asia
· The Middle East & Africa
*Key Market Segments Covered* · Type
· Accessories
· Material
· Region
*Key Countries Profiled* · The United States
· Canada
· Brazil
· Mexico
· Germany
· France
· France
· Spain
· Italy
· Russia
· Poland
· Czech Republic
· Romania
· India
· Bangladesh
· Australia
· New Zealand
· China
· Japan
· South Korea
· GCC countries
· South Africa
· Israel
*Key Companies Profiled* · Harvia Group
· Pentair
· Fluidra
· KLAFS GmbH & Co. KG
· TyloHelo
· Kohler Co.
· Arctic Spas
· Roca
· Jaquar
· Bullfrog Spas
*Segmentation Analysis of the Pool and Spa Market*
*Type:*
· Spas
· Electric Spas
· Steam Baths
· Saunas
· Hydromassage Bathtubs
· Pools
· Lap Pools
· Wading Pools
· Heated Pools
· Others
· Spray Pools
· Natural Pools
· Zero Edge Pools*Accessories:*
· Filters
· Chlorinators
· Blowers
· Cleaners
· Covers
· Suction Fittings
· Pool Pumps
· Others
*Material:*
· Plastic
· Rubber
· Fiberglass
· Stainless Steel
· Others*Region:*
· North America
· Latin America
· Western Europe
· Eastern Europe
· South Asia and Pacific
· East Asia
· The Middle East and Africa*Authored by:*
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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