Check Out The 360 Degree View Of Underwater Lighting Market 2025 ($359.7 Million Market) - Global Reporting
October 30, 2019 by Market-NewsFlash
Global Underwater Lighting Market Research Report by Light Source (Light Emitting Diode (LED), Xenon, Halogen, Others), Mounting Type (Flush Mounted, Surface Mounted) Installation Type (New Installation, Retrofit Installation), Application (Boat/Yacht Lighting, Swimming Pools, Fountains, Others), Region (North America, Europe, Asia-Pacific, Middle East & Africa, Central & South America) — Forecast till 2025
Underwater Lighting Market
The global underwater lighting market was valued at USD 269.4 million in 2018 and is expected to reach USD 359.7 million by the end of the forecast period with a compound annual growth rate (CAGR) of 4.26%.
Underwater lighting systems usually comprise lights that are guarded with resilient materials for smooth functioning in ponds, lakes, seas, and other underwater areas. Since these lights are often submerged in saline water, it becomes necessary for the manufacturers to design cases that are resistive to corrosion. According to the law of refraction, the direction of light changes in water and does not follow a straight path. This results in the scattering of light and does not provide ambient light to divers under water. Therefore, over the past few years, the traditional source of light has been replaced by light-emitting diodes (LEDs) for better illumination underwater. Underwater lights are also used by oceanographers for determining the physical and biological aspects of the ocean.
Several factors affect the growth of the global underwater lighting market. Increasing demand for underwater lighting in swimming pools and the shift towards the adoption of energy-efficient LEDs has attributed to the growth of the global underwater lighting market. In addition to this, the applications of underwater lights for fishing is one of the factors contributing to the growth of the overall market. However, high installation cost of LEDs is expected to hamper the growth of the global market.
The global underwater lighting market has been segmented on the basis of light source, mounting type, installation type, application, and region.
By light source, the global underwater lighting market has been segmented into light-emitting diode (LED), xenon, halogen, and others.
By mounting type, the global underwater lighting market has been bifurcated into flush mounted and surface mounted.
Based on installation type, the global underwater lighting market has been bifurcated into new installation and retrofit installation.
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Underwater Lighting Market
The global market for underwater lighting is estimated to grow at a staggering rate during the forecast period from 2019 to 2025. The geographic analysis of the underwater lighting market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America.
As per MRFR analysis, the North American region is estimated to dominate the global underwater lighting market, followed by Asia-Pacific, Europe, and the rest of the world. Presence of underwater caves and government initiatives to support underwater activities has attributed to the adoption of underwater lighting in this region. Moreover, construction of private swimming pools in hospitality sector has also increased the demand for underwater lights in the region. On the other side, the Asia-Pacific region is expected to witness the fastest growth due to the increasing construction of amusement parks and fountains in China, South Korea, and Japan.
MRFR has identified a few companies as prominent players in the global underwater lighting market. These include Signify (Formerly Philips Lighting) (Netherlands), Eaton (Ireland), Acuity Brands (US), Hayward Industries, Inc. (US), Lumishore (UK), T-H Marine (US), Shadow Caster, Inc. (US), Attwood (US), Aqualuma (US), OceanLED (UK), Dabmar Lighting, Inc. (US), Lumitec LLC (US), Underwater Lights Limited (UK), Båtsystem (Sweden), and BIRNS, Inc. (US). These companies are analyzed on the basis of their geographic presence, origin, product portfolio, key developments, and expertise in lighting technology. Apart from the above mentioned players, Light & Motion (US), Perko Inc. (US), Wibre (Germany), Submertec (UK), Shenzhen Sanxinbao Semiconductor Lighting Co., Ltd (China), Global Light & Power LLC (UAE), and Fire Water Marine (US) too have a significant presence in the global underwater lighting market.
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