Underwater Lighting Market Research Report - Global Forecast till 2027

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 2027

ID: MRFR/SEM/6917-HCR | February 2021 | Region: Global | 111 pages         

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Underwater Lighting Market Overview


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%. Submersible lights used to illuminate places with limited visibility under the water are referred to as underwater lighting. These lights can be used for decorative purposes, such as lighting up water features such as ponds and pools. With this lighting, bumps on the pool walls and unintentional encounters with other swimmers can be avoided.  For smooth operation in ponds, lakes, oceans, and other underwater locations, underwater lighting systems typically include lights that are protected with durable materials. Because these lights are frequently submerged in salty water, manufacturers need to build corrosion-resistant cases. The direction of light changes in water due to the law of refraction, and it does not follow a straight route. As a result, light scatters and divers underwater do not have access to ambient light. As a result, for better underwater illumination, light-emitting diodes (LEDs) have gradually supplanted traditional light sources in recent years. Oceanographers utilize underwater lights to determine the physical and biological features of the ocean.


COVID-19 Analysis


The global spread of the new coronavirus, which originated in China, has had a significant influence on the underwater lighting industry and Underwater Lighting Market Share. Governments have banned all types of recreational activities such as rafting, surfing, boating, fishing, and swimming, resulting in a decrease in the use of underwater lights. Furthermore, the Underwater Lighting Market Trend is being stifled by a drop in sales of energy-efficient LEDs during the Underwater Lighting Market Forecast. In the LED business, the majority of production takes place in China, which is both a raw materials hub and the source of the deadly virus.


Market Dynamics


Drivers


The Underwater Lighting Industry is predicted to rise due to the increased use of these lights for night fishing and their installation in commercial swimming pools. Furthermore, during the projected period, the increasing substitution of traditional lights with LEDs is expected to create potential prospects for the underwater lighting market and increase the Underwater Lighting Market Share. The global Underwater Lighting Market Growth is a result of rising demand for underwater lighting in swimming pools and a shift toward the use of energy-efficient LEDs. Additionally, one of the factors contributing to the overall Underwater Lighting Market Growth and increasing the Underwater Lighting Market Trends is the use of underwater lights for fishing.


Restraints


LEDs' high installation costs are projected to stifle worldwide market expansion, thus decreasing the Underwater Lighting Market Size. However, the market for underwater lighting is being held back by the high maintenance costs of energy-efficient LEDs.


Technology Analysis


In many applications, solid-state lighting is replacing incandescent, fluorescent, HMI, and HID lighting, and for good cause. LEDs are very efficient and adaptable lighting options. They are ideal for almost any lighting application, including subsea imaging. For varied aesthetic experiences, light in water exhibits behaviors outside of the range. These behaviors are the result of interactions between phenomena ranging from the atomic to the macroscopic life that abounds in the oceans. The inverse square law is no longer a good predictor of luminous intensity at a given distance from a source because light no longer travels straight lines from source to subject. Underwater lighting is used for swimming pool decorating and night fishing. It is also utilized for the installation of underwater lights for appealing water-featured landscaping.


Segment Overview


The Underwater Lighting Market Analysis has been bifurcated into various segments that will help the market to achieve the highest CAGR during the Underwater Lighting Market Research period and provide a better Underwater Lighting Market Outlook. The Underwater Lighting Market Segments are as follows:


Underwater Lighting Market, By Light Source



  • Light-emitting diode (LED)

  • Xenon

  • Halogen

  • Others


Underwater Lighting Market, By Mounting Type



  • Flush-mounted

  • Surface-mounted.


Underwater Lighting Market, By Installation Type



  • New installation

  • Retrofit installation


Underwater Lighting Market, By Application



  • Boat/yacht lighting

  • Swimming pools

  • Fountains

  • Others


Underwater Lighting Market, By Region



  • North America

  • Europe

  • Asia-Pacific

  • The Middle East & Africa

  • Central & South America


Regional Classification


The global underwater lighting market is expected to be dominated by North America, followed by Asia-Pacific, Europe, and the Rest of the World. The use of underwater lighting in this location has been ascribed to the presence of underwater caverns and government attempts to assist underwater activity. Furthermore, the need for underwater lights in the region has increased as a result of the installation of private swimming pools in the hospitality sector. The expansion of the underwater lighting market in the Asia Pacific is predicted to be driven by an increase in the number of swimming pool construction projects due to the region's thriving tourism industry and the development of upscale residential complexes with modern amenities. Because of the high disposable income of customers, the demand for luxury cruises has increased, as has the demand for yachts, which has supported the expansion of the underwater lighting system market in the region. The Asia-Pacific area, on the other hand, is predicted to rise at the quickest rate due to the construction of amusement parks and fountains in China, South Korea, and Japan.


Competitive landscape


Manufacturers in the global underwater lighting market are largely focused on incorporating cutting-edge technology into their underwater lighting portfolios to stay competitive. On do this, the businesses devote a significant portion of their profits to research and development. These businesses concentrate on producing underwater lighting that meets the needs of every industry vertical, resulting in a diverse customer base. Furthermore, to extend their geographic presence and acquire a competitive advantage in the worldwide underwater lighting market, these businesses use inorganic growth tactics such as acquisitions, partnerships, joint ventures, and collaborations as part of their market development strategy. The major key players in the market are as follows:



  • Signify (Formerly Philips Lighting)

  • Eaton

  • Acuity Brands

  • Hayward Industries, Inc.

  • Lumishore

  • T-H Marine

  • Shadow Caster, Inc.

  • Attwood

  • SeaLife

  • Aqualuma

  • OceanLED

  • Dabmar Lighting, Inc.

  • Lumitec LLC

  • Underwater Lights Limited

  • Bat system

  • BIRNS, Inc.

  • Light & Motion

  • Perko Inc.

  • Wibre

  • Submertec

  • Shenzhen Sanxinbao Semiconductor Lighting Co., Ltd.

  • Global Light & Power LLC

  • Fire-Water Marine


Recent Developments



  • The Explore Underwater LED Light Series was launched by OceanLED. The series includes a technologically innovative and extremely efficient flush-mount underwater LED light. In its Explore series, the business has released two models: the E3 and the E6.

  • The Video Pro 3800 is a new underwater light from Light & Motion. The light has a power level indicator as well as a battery condition indicator. The 3,800-lumen video light is also housed in a dome port optic, which boosts illumination while lowering light fall-off at the beam's borders.

  • Blue Water LED Enterprises, LLC's assets were purchased by T-H Marine Supplies, Inc. Blue Water's assets have been moved to T-H Marine's headquarters in Huntsville, Alabama, for continued assembly and delivery of products as a result of this transaction.

  • For viewing fluorescing marine life, SeaLife has released a new handheld light. The Sea Dragon Mini Fluoro Light emits a powerful blue light beam and is equipped with a dichroic filter that creates the appropriate light wavelength. At full power, the Sea Dragon Mini Fluoro Light offers 7 Watt/M2 brightness.


Report Overview


This report includes an analytical depiction of the global underwater lighting market trends, including current patterns and future forecasts, to identify potential investment areas. The entire potential is determined to obtain a better foothold by understanding profitable trends. With a complete impact analysis, the worldwide underwater lighting market analysis report includes information on key drivers, restraints, and opportunities. To gauge financial competency, the present global underwater lighting market forecast is quantitatively examined. The intelligence report is the result of extensive research and analysis of the different factors influencing market growth. The examination of the many elements influencing market dynamics, as well as essential and related industries, aids businesses in comprehending distinct consumer propositions.



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Frequently Asked Questions (FAQ) :

The market is recorded for a CAGR of 4.26% during the forecast period.

The factors are increasing demand for underwater lighting in swimming pools and the shift towards the adoption of energy-efficient LEDs has accredited to the growth of the underwater lighting market.

OceanLED, Light & Motion, T-H Marine Supplies, Inc., and SeaLife are the key players actively participating in the market’s growth.

North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America are the key regions numbered in the regional analysis of the market.

Asia-Pacific region is expecting to witness the fastest growth in the regional analysis of the market.