Europe Swimming Pools & Spas Market Size

Europe Swimming Pools & Spas Market Size

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.

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.