Underwater Lighting Market by Light Source (LED, Halogen, and Metal Halide Lamps), Mounting Type (Flush Mounted and Surface Mounted), Installation Type (New Installations and Retrofit Installations), and Application (Boat/Yacht Lighting, Swimming Pools, Fountains, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
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A05566
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May 2020 |
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Underwater Lighting Market Outlook - 2026
Underwater lighting is used from large swimming pools to small aquariums. Around 50% of the global population is residing in the urban areas, which has led to increase in large number of houses; thereby, increasing the number of swimming pools. The ongoing urbanization and increase in disposable income have led to increase in the number of swimming pools.
The improved lifestyle of the consumers also increases the demand for swimming pools. Therefore, increase in the demand of swimming pools is the key factor that drives the growth of the underwater lighting market. Various sources for underwater lightning are LED, halogen, and metal halide lamps. Underwater lighting has a wide range of applications such as boat/yacht lighting and fountains. Increase in underwater sports activities such as scuba diving, deep sea fishing, and snorkeling is expected to fuel the growth of the underwater lighting market. Furthermore, increase in number of government initiatives to support the adoption of energy-efficient LEDs also boost the market growth. However, high installation costs of energy-efficient LEDs restrain the growth of the underwater lightning market.
The market of underwater lightning is highly competitive and the strategies adopted by the key players are new product launch, product development, business expansion, merger, and acquisition. For instance, in February 2018, Shadow-Caster has announced its integration with Garmin OneHelm platform. This platform enables users with complete integrated control of all lighting on a vessel. Shadow-Caster’s system provides the user an availability to set the brightness and color for multiple zones through the Garmin multi-function display.
The significant impacting factors for the growth of the underwater lighting market include increase in demand for underwater lighting in swimming pools, rise in underwater sports and amusement activities, and surge in number of government initiatives to support the adoption of energy-efficient LEDs. In addition, the restraining factor by which the market is influenced includes high installation costs of energy-efficient LEDs. Each of these factors is anticipated to have a definite impact on the underwater lighting market during the forecast period.
The underwater lighting market is segmented based on light source, mounting type, installation type, application, and region. Based on light source, the market is categorized into led, halogen, and metal halide lamps. On the basis of mounting type, it is bifurcated into flush mounted and surface mounted. By installation type, it is divided into new installations and retrofit installations. Based on application, it is categorized into boat/yacht lighting, swimming pools, fountains, and others. Based on region, the market is analyzed across Europe, Asia-Pacific, North America, and LAMEA.
The major companies profiled in the global underwater lighting market include Hayward Industries Inc., Acuity Brands Inc., Shadow Caster Inc., Signify Holding, OceanLED Marine Ltd., Lumishore, Attwood Corporation, Aqualuma LED Lighting, T-H Marine Supplies Inc., Eaton Corporation Plc, and others.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the global underwater lighting market trends with current trends and future estimations to depict the imminent investment pockets.
- The overall potential is determined to understand the profitable trends to gain a stronger foothold.
- The global underwater lighting market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global underwater lighting market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
By Light Source
- LED
- Halogen
- Metal Halide Lamps
By Mounting Type
- Flush Mounted
- Surface Mounted
By Installation Type
- New Installations
- Retrofit Installations
By Application
- Boat/Yacht Lighting
- Swimming Pools
- Fountains
- Others
BY REGION
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS PROFILED
- Hayward Industries Inc.
- Acuity Brands Inc.
- Shadow Caster Inc.
- Signify Holding
- OceanLED Marine Ltd.
- Lumishore
- Attwood Corporation
- Aqualuma LED Lighting
- T-H Marine Supplies Inc.
- Eaton Corporation plc
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