Latin America and MEA likely to Surpass Europe in Pool Maintenance and Equipment Market during 2016−2022
Aug 28, 2017
North America is likely to remain the largest market. Together, Latin America and the MEA region are likely to merge as the major largest revenue contributors in the global pool maintenance and equipment market at the end of the forecast period.
Pool Equipment and Maintenance Market – Global Outlook and Forecast 2017-2022, the latest report published by Arizton states that the pool maintenance and equipment market in Latin America and MEA region is going to witness a high growth during the period 2016-2022. The market research report, which consists of 150 pages of critical analysis of global pool maintenance and equipment market provides an in-depth study of the market and analysis of the key regions.
Pool Equipment and Maintenance Market – Global Outlook and Forecast 2017-2022
The analysts team at Arizton says that the global pool equipment and maintenance market is going to witness tremendous growth during the forecast period. The market is likely to cross 17 billion, growing at a CAGR of 10.8%, in terms of revenue during 2016−2022. The report includes the market size and growth forecast of the major geographies such as APAC, Europe, North America, and Row. The analysts also stated that North America will dominate the global pool maintenance and equipment market.
Pool Maintenance and Equipment Market in Europe
Europe held the second position in terms of number of swimming pools and contributed the highest average revenue per pool in 2016. The retail environment in the Western European countries is known to be characterized by heavy discounting. Also, the improving economy in many European countries has increased the disposable income in the region. This is likely to become a favorable factor for the pool maintenance and equipment market in this region. A high per capita disposable income is one of the major reasons behind the leading position of this region in the global pool equipment and maintenance market.
Pool Maintenance and Equipment Market in RoW
RoW, which constitutes Latin America and MEA, accounted for more than 18% of market share, both in terms of revenue and installed pool base, in 2016. Brazil was the largest revenue contributor in this region, apart from Argentina and Mexico. Brazil is expected to contribute the maximum of the revenue generated by 2022.
Improving economic conditions and growth in the travel and tourism industry are the main drivers of growth in this region. The region is likely to account for more than 28% of market share both in terms of revenue and installed pool base, in 2022. RoW is likely to merge as the second largest revenue contributor to the global pool maintenance and equipment market at the end of the forecast period. The region is expected to surpass Europe by 2022 in terms of revenue and installed pool base. The main reason for this growth can be attributed to multiple factors including a rapid increase in the construction of swimming pools in this region, favorable weather conditions, improved economy, and increased tourism activities.
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