The swimming pool construction industry is a dynamic and evolving sector, characterized by constant innovation and technological advancements. Staying abreast of the latest industry trends, key findings, and essential insights is not only strategic for pool builders but also beneficial for prospective clients making informed decisions.

While analyzing any industry, it is imperative to begin by understanding and elucidating the key players, the market size, growth trajectories, as well as regional and global trends. For the swimming pool construction industry, the key players range from manufacturers of raw materials to designers, builders, and suppliers.

One remarkable finding from the industry’s recent analyses is the projected growth rate. In 2020, the global market size stood at approximately $45 billion. However, the market is estimated to have a compound annual growth rate (CAGR) of 3.2% from 2021 to 2028. This growth prediction is underpinned by the increasing popularity of home improvement and renovation projects, the growing importance of outdoor decor, and the rising disposable income which enables home-owners to invest in luxuries such as pools.

Geographical segmentation reveals that North America, particularly the United States, dominates the industry due to the high number of residential pools. However, Asia Pacific is expected to exhibit significant growth, driven by increasing disposable income and the adoption of western lifestyle trends. In essence, the industry's geographical reach is indeed global, with growth pockets spread across various regions.

In terms of technology, the industry has seen several advancements. One such innovation is the use of 3D Design software to provide clients with a virtual representation of the final product. This predictive modeling not only enhances customer satisfaction but also reduces potential errors and miscommunications during the construction phase. Another technological leap in the industry is the increased adoption of sustainable and energy-efficient technologies, such as solar-heated pools and energy-saving pump systems. However, these advancements come with trade-offs. For example, while energy-efficient systems can result in long-term savings, their initial installation costs tend to be higher.

The global COVID-19 pandemic has also had a palpable impact on the industry. While the initial lockdown measures resulted in a slowdown, there has been a surge in demand for residential pools as more people stay home for vacations, a phenomenon termed as 'staycation'. However, pool builders have also faced challenges such as supply chain disruptions and increased material costs.

On the legal front, regulations related to safety, health, and environmental impact are becoming increasingly stringent. This often necessitates increased documentation and compliance efforts on the part of pool builders. However, adherence to these regulations also presents an opportunity for builders to differentiate themselves via superior quality and commitment to safety and the environment.

To elucidate the underlying dynamics of these trends, one can leverage economic theories such as Engel's Law, which posits that as income rises, the proportion of income spent on luxuries increases. This could explain the projected growth of the industry, particularly in emerging economies. Similarly, the law of supply and demand can shed light on the industry's response to the COVID-19 pandemic.

In conclusion, the swimming pool construction industry is characterized by dynamic growth, technological innovation, geographical diversity, and evolving regulatory landscape. Remaining aware of these developments enables pool builders to remain competitive and clients to make informed decisions. As the industry continues to grow and evolve, it promises exciting opportunities and challenges in equal measure.