Swimming Pool Market Size , Share , Trends , Analysis and Forecasts To 2021
Market Research analysts forecast the global swimming pool market to grow at a CAGR of 3.91 % during the period 2017-2021 .
According to the report , the global economic growth has resulted in large-scale urbanization . According to the UN estimates , as of 2016 , 55 % of the world ' s population resides in urban areas , which is likely to increase to more than 62 % by 2021 . Around 90 % of the global urban population is from APAC and Africa . The urban population in APAC is expected to grow from 42 % in 2010 to 53 % in 2021 . The urban population in other developing countries , such as countries in Africa and South America , is expected to grow from 40 % in 2010 to 49 % in 2021 .
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Further , the report states that the installation and maintenance costs of a swimming pool are very high . It is expensive to own a swimming pool because of the costs associated with regularly changing the water , cleaning the filters , and power consumption by motor pumps . In addition , skilled and trained individuals are needed to operate swimming pool equipment , which adds to the overall expense . Moreover , many countries face water scarcity because of the worsening of the ecological balance . In countries like Yemen , Libya , and Jordan that have the highest water scarcity , the cost of water is extremely high . Therefore , with the already existing financial weakness , the high initial costs act as a barrier to the growth of swimming pools in most of the developing countries . This limits the revenue inflow of the market .
About Swimming Pool
The global swimming pool market is likely to experience growth during the forecast period . This growth is attributed to the increasing construction of a large number of residential structures and hotels globally . The growth of the market will be primarily driven by urbanization . In 2016 , more than half of the global population resided in urban areas , and this is likely to increase by 2021 . The growing urbanization will result in the need for a better lifestyle and increase in infrastructure construction . The hectic lifestyles of people will result in a high preference for all amenities within the same infrastructure . This will likely drive the growth of the swimming pool market as swimming pools are becoming one of the most important lifestyle amenities .
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