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Europe Swimming Pools & Spas Market size exceeded USD 1 billion in 2019 and is poised to grow at a CAGR of over 9% between 2020 and 2026. The growing trend of wellness and healthcare tourism in several European countries is augmenting the demand for modern & feature-rich swimming pools & spas.
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The increase in spending capacity due to growing disposable income is encouraging consumers to invest in movable swimming pools & spas. According to the OECD Health Statistics report in 2018, health spending in the European Union accounted for nearly 10% of GDP. The wellness expenditure of residents in Europe accounted for more than 50% of the total amount spent by consumers on healthcare. Countries including France and Germany allocated more than 11% of their GDP for the development of healthcare facilities, supporting the market growth of movable swimming pools & spas.
Report Coverage | Details |
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Base Year: | 2019 |
Market Size in 2019: | USD 1 Billion (2019) |
Forecast Period: | 2020 to 2026 |
Forecast Period 2020 to 2026 CAGR: | 9% |
2026 Value Projection: | USD 1.5 Billion (2026) |
Historical Data for: | 2016 to 2019 |
No. of Pages: | 200 |
Tables, Charts & Figures: | 213 |
Segments covered: | Product, Accessories, Material |
Growth Drivers: |
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Pitfalls & Challenges: |
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Technological advancements in the field of fabrication materials and filtration techniques have led to the introduction of environment-friendly models of movable swimming pools & spas. The implementation of stringent regulations related to water contamination and health & safety of users is encouraging manufacturers to use non-toxic chemicals and advanced filters in pools & spas, thereby spurring their adoption in the Europe swimming pools & spas market. The growing usage of recycled materials, such as PVC and fiberglass in swimming pools & spas, is also contributing to their durability, boosting the market demand.
The high cost of purchase of portable swimming pools & spas is one of the major factors hampering the market growth. Innovative and high-quality materials used for the reduction of product weight along with the customization of interior & exterior features contribute significantly to the overall production costs. Advanced filtration & insulation technologies and motor pumps integrated with swimming pools & spas account for the majority of the cost. Movable swimming pools & spas require highly skilled technicians to install these systems, incurring high costs from buyers, thereby challenging the industry growth.
The Europe swimming pools & spas industry is anticipated to witness a temporary slowdown in 2020. The industry challenges posed by the escalating impact of COVID-19 pandemic include a decline in purchasing power of consumers and disruptions in supply chains across the globe. A shortage of raw materials and labor is affecting the manufacturing and installation capabilities of market players. Furthermore, rising financial insecurities are encouraging consumers to invest in essential goods and medical supplies, negatively impacting the industry size.
The movable spas segment valued at USD 350 million in 2019 and is anticipated to witness around 7% growth till 2026. The rapidly growing market size can be attributed to enhanced mobility offered by movable spas. Users can conveniently relocate these portable spas to indoor or outdoor locations for a therapeutic experience. Advanced built-in features, such as aqua and light therapy with adjustable spray jets and LED lights, are further driving the segment growth.
Market leaders are offering models with enhanced seating capacities, making them ideal for large families. Several entertainment features offered through connected speakers and mobile applications in new portable spas are driving the proliferation of movable spas in the market.
The spa accessory segment is expected to expand at 7% CAGR through 2026 impelled by growing adoption of portable spas in the residential sector. Consumers prefer to integrate their spas with accessories, such as tub pads and covers, to protect them from damage due to environmental conditions.
Tub pads offer a cost-effective and hassle-free alternative to traditional spa foundations, such as concrete and wood, thereby increasing their demand in the European swimming pools & spas market. They offer improved durability and reliability compared to crushed stones or concrete as a spa base. The lightweight & movable nature of tub pads is contributing to their growing popularity among spa owners. The flexibility of conveniently relocating them to indoor and outdoor locations is contributing to their proliferating market size in 2020.
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The fiberglass segment valuation was over USD 270 million in 2019 due to its low cost and enhanced durability. The increasing representation of fiberglass in the market is also credited to the low strength-to-weight ratio, which provides the same strength as steel or aluminum at much lower weight.
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The Europe swimming pools & spas market is predicted to register a significant growth during the forecast period. Consumers are increasingly spending on renovating their gardens and outdoor areas to create a comfortable relaxing environment. This has led to a significant increase in the sales of portable swimming pools & spas in countries including the UK and Germany. According to the British and Irish Spa and Hot Tub Association (BISHTA) report in June 2020, over 35% of British homeowners are inclined toward spending their summer vacations at home, relaxing in their swimming pools & spas.
Industry leaders are focusing on expanding their geographic presence and strengthening their distribution channels for increasing their revenues. For instance, in April 2019, Roca Sanitaro opened its first gallery in São Paulo, Brazil. This creative space is used by the company to host events and showcase its swimming pools & spas to customers. This assisted the company in expanding its presence in Brazil. Market players are also laying an emphasis on collaborations with technology providers to enhance the features in their products.
Key players operating in the market include AKVO Spiralift Inc, Guangzhou Monalisa Bath Ware Co., Ltd., Lift'O, Roca Sanitario, S.A., and Variopool Group Other significant players in the market include Beachcomber Hot Tubs, Coast Spas, Jaquar Group, Twinscape Group, Aqualift, and Watkins Wellness.
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Market, By Product
Market, By Accessories
Market, By Material
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