The report encompasses the major developments within the Global Underwater Lighting Market amidst the novel COVID-19 pandemic. The report offers a thorough understanding of the different aspects of the market that are likely to be feel the impact of the pandemic.
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 Therefore, over the past few years, the traditional source of light has been replaced by light-emitting diodes (LEDs) for better illumination underwater.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.
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%.
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.
Based on application, the global underwater lighting market has been segmented into boat/yacht lighting, swimming pools, fountains, and others.
By region, the global underwater lighting market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America.
- In November 2018, OceanLED launched Explore Underwater LED Light Series. The series feature flush-mount underwater LED light that is technologically advanced and highly efficient. The company has launched two models in its Explore series –E3 and E6.
- In November 2018, Light & Motion launched a new underwater light – the Video Pro 3800. The light features a power level and a battery status indicator. Also, the 3,800-lumen video light is placed in a dome port optic which increases the illumination while reducing the light fall-off at the edges of the beam.
- In May 2018, T-H Marine Supplies, Inc., acquired the assets of Blue Water LED Enterprises, LLC. Through this acquisition, assets of Blue Water have been moved to T-H Marine headquarters in Huntsville, Alabama, for further assembly and shipping of products.
- In November 2017, SeaLife launched a new handheld light for viewing fluorescing marine life. The Sea Dragon Mini Fluoro Light emits a powerful blue light beam and is integrated with a dichroic filter which creates the optimal light wavelength and offers 7 Watt/M² brightness at full power.
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.
Global Underwater Lighting Market, USD Million
Source: MRFR Analysis
The manufacturers in the global underwater lighting market are primarily focused on integrating state-of-the-art technologies in their portfolio of underwater lighting to stay abreast among its peers. To accomplish this, the companies invest a prominent share of their revenues in research & development. These companies focus on manufacturing underwater lighting that would suffice the need for every industry vertical and therefore, create a dynamic customer base. Moreover, as a part of their market development strategy, these companies focus on inorganic growth approaches such as acquisitions, partnerships, joint ventures, and collaborations to expand their geographic presence and gain competitive advantage in the global underwater lighting market.
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.
- Raw Material and Manufacturing Equipment Suppliers
- Integrated Device Manufacturers (IDMs)
- Product and Accessory Manufacturers and Suppliers
- Research Organizations and Consultancies
- Government and Regulating Authorities
- Organizations, Forums and Alliance
- Analysts, Technology Experts, and Strategic Business Planners
- End Users
- underwater lighting market size
- underwater lighting industry
- underwater lighting boat
- underwater led lights
- submersible led lights
- underwater pool lights
- underwater dock lights
- underwater solar lighting
- underwater light for fishing
More Information : https://www.marketresearchfuture.com/reports/underwater-lighting-market-8389
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