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Allied Market Research

Marine Lighting Market by Application (Floodlights, Searchlights, Berth Lights, Rope & Strip Lighting, Navigation Lights, Cockpit & Flood Lights, Utility & Engine Room Lights and Underwater LED Lights), Installation (Interior and Exterior), Technology (LED and Non-LED) and End-Use (Military and Commercial): Global Opportunity Analysis and Industry Forecast, 2021–2027

A08504
Pages: NA
Aug 2021 | 622 Views
 
Author(s) : NA
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Marine Lighting Market Outlook - 2027

The marine lighting market is an indispensable part of the marine industry as the industry is highly dependent on lighting for its proper functioning and also for providing aesthetic appearance to ship. Growth in the usage of LEDs coupled with stringent regulations for the marine industry pertaining to safety lights has created significant awareness as well as demand for marine lighting across the globe. Marine LED lights are used for different applications in a vessel such as in alarm systems, navigation systems, and for underwater lighting purposes. Therefore, this leads to the replacement of traditional marine lights as these lights are small in size with high brightness and luminous efficiency.

 Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast unit

  Value (USD)

  Segments covered

  Application, Installation, Technology, End-Use

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

Koito Manufacturing Co. Ltd., OSRAM GmbH, Imtra Corp., Shadow-Caster, Star LED, Hella Marine, Lumishore, NJZ Lighting, Technology Co., Ltd., Koninklijke Philips N.V., Taco Metal

 

COVID-19 scenario analysis:

  • COVID-19 has severely impacted the marine industry. The demand and revenue have drastically fallen as ships have been stranded and banned from entering ports.
  • COVID-19 has created hindrances in the movement of cargo and has raised concern on port and warehouse accumulation.
  • Current loss in activity due to COVID-19 is limited to a relatively small and modest amount of attritional claims, but it may increase if the situation remains the same.
  • Concerns over large losses during extended periods and higher values could produce outsized losses e to reduce premium base.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Growth in seaborne trade activities and economical nature of water transportation are expected to spur the demand for marine lighting market over the forecast period. Moreover, heavy investments in R&D, complex lighting systems, and fluctuating prices of raw materials are anticipated to hamper the growth of the market. Furthermore, organic light-emitting diodes and replacement of traditional lighting with LED are expected to offer lucrative opportunities for the market over the forecast period.

The marine lighting market trends are as follows:

Growth in seaborne trade activities 

Owing to the establishment of healthy trade relations and positive economic industry growth in various countries, trade has significantly increased among countries in the past two decades. Sea transport tends to transfer huge amounts and large products to different places, which have grown importance in the past. Therefore, it is expected to grow the marine lighting market over the forecast period.

Economical nature of water transportation 

Several developed and developing nations around the globe are shifting their focus to enhance their international business through marine transport as it is the most economical compared to all other transports.

Increased use of water by navy, sea security & patrol has significantly developed a desire among manufacturers to deploy their products through sea. Increase in demand for sea transportation is expected to boost the marine lighting market over the forecast period.

Key segments covered:               

Segments

Sub-segments

  Application

  • Floodlights
  • Searchlights
  • Berth Lights
  • Rope & Strip Lighting
  • Navigation Lights
  • Cockpit & Flood Lights
  • Utility & Engine Room Lights
  • Underwater LED Lights

  Technology

  • LED
  • Non-LED

  Installation

  • Interior
  • Exterior

  End-Use

  • Military
  • Commercial

 

Key benefits of the report:

  • This study presents the analytical depiction of the marine lighting market along with current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the marine lighting market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the marine lighting market scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years. 

Questions answered in the marine lighting market research report:

  • Which are the leading market players active in the market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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