The global underwater lighting market is expected to register significant market growth during the forecast period. Underwater lighting acts as an essential element for boats and yachts owing to need for better illumination at dark places. In addition to this, advancements in ocean engineering and fishery technology have also attributed to the growth of the global underwater lighting market. The major factors responsible for the growth of the underwater lighting market include potential growth of intelligent lighting systems for adventure sports and high adoption rate of human-centric lighting. Moreover, the advent of Internet of Things (IoT) is also expected to create opportunities for the market growth.
Segmentation
The global underwater lighting market has been segmented on the basis of light source, mounting type, installation type, application, and region.
According to Market Research Future, 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. Among these, the light-emitting diode (LED) segment dominated the overall market in 2018 and is estimated to dominate its dominance during the forecast period. With the advancements in technology, LED lights have proven to be one of the efficient lighting solutions than high-intensity discharge (HID) and halogen lights. These devices do not dissipate heat and thus, do not incur high maintenance costs. This has encouraged the manufacturers of underwater lights to adopt LED instead of halogen lights and metal halides.
By mounting type, the global underwater lighting market has been bifurcated into flush-mounted and surface mounted. Among these, flush-mounted underwater lights are more economical to install in pools. Hence, these lights are expected to maintain their dominance the global market during the forecast period. However, the demand for surface mounted underwater lights is expected to grow during the forecast period owing to adoption of retrofit installations and increasing opportunities in the construction industry.
Based on installation type, the global underwater lighting market has been bifurcated into new installation and retrofit installation. The demand for new installations is high during the forecast period owing to several initiatives undertaken by the government to promote tourism in their country. However, the segment for retrofit installations is expected to determine the fastest growth during the forecast period.
Based on application, the global underwater lighting market has been segmented into boat/yacht lighting, swimming pools, fountains, and others. The installation of underwater lights in boat, yacht, and other water vehicles is expected to dominate the global market during the forecast period. However, the market for installation of underwater lights in fountains is expected to register the highest growth owing to increasing tourism in the US, China, Singapore, and Malaysia among 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. Among the regions, Asia-Pacific dominated the underwater lighting market with the largest market share in 2018. The region has witnessed major adoption of underwater lightings in amusement parks, stadiums, and other government and public places. Moreover, initiatives undertaken by the government for the development of China, Indonesia, Thailand, Malaysia, and Singapore to promote tourism has also accelerated the demand for underwater lighting in this region. However, the North American region is anticipated to witness the highest growth during the forecast period owing to increasing construction of swimming pools in residential as well as commercial spaces
Key Players
The key players in the underwater lighting market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are Signify (Formerly Philips Lighting) (Netherlands), Underwater Lights Limited (UK), Båtsystem (Sweden), Shadow Caster, Inc. (US), Eaton (Ireland), Attwood (US), Aqualuma (US), Lumishore (UK), T-H Marine (US), OceanLED (UK), Acuity Brands (US), Hayward Industries, Inc. (US), Dabmar Lighting, Inc. (US), Lumitec LLC (US), and BIRNS, Inc. (US). The companies are focused on innovating in their existing product portfolio as well as innovate products by investing in research and development activities to analyze the changing market trends.
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Underwater Lamps MarketThe global underwater lighting market is expected to register significant market growth during the forecast period.
Underwater lighting acts as an essential element for boats and yachts owing to need for better illumination at dark places.
In addition to this, advancements in ocean engineering and fishery technology have also attributed to the growth of the global underwater lighting market.
The major factors responsible for the growth of the underwater lighting market include potential growth of intelligent lighting systems for adventure sports and high adoption rate of human-centric lighting.
Moreover, the advent of Internet of Things (IoT) is also expected to create opportunities for the market growth.The global underwater lighting market has been segmented on the basis of light source, mounting type, installation type, application, and region.Key PlayersThe key players in the underwater lighting market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise.
Some of them are Signify (Formerly Philips Lighting) (Netherlands), Underwater Lights Limited (UK), Båtsystem (Sweden), Shadow Caster, Inc. (US), Eaton (Ireland), Attwood (US), Aqualuma (US), Lumishore (UK), T-H Marine (US), OceanLED (UK), Acuity Brands (US), Hayward Industries, Inc. (US), Dabmar Lighting, Inc. (US), Lumitec LLC (US), and BIRNS, Inc. (US).
