Global Underwater Lighting Market showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx million over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 4.5% during the forecast period, i.e. 2017-2025. There has been huge increase in the underwater activities such as underwater sports and for aesthetic purposes, thus the use of underwater lighting has been increased. For an underwater light to be more effective, factors that are considered are brightness and beam angle of the light. Various companies are developing innovative products and are improving the functionality and durability of the light.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

Market Dynamics:

The underwater lighting market is projected to grow from USD 250 million in 2017 to USD xx.xx by 2025, at CAGR of 4.5%. On a research-scale, the factors that affect the growth of underwater lights market include the increase in oceanic activities. Although, the underwater light market is not only limited to the oceans, these lights can be used in our day-to-day life as well as in swimming pools and small aquariums. The underwater lights limited (US) has announced the launch of their new products which will use retro installation techniques, which will enable shipbuilders to enhance the vessels to acquire enhanced light beams.      

Underwater lighting is expected to be the future of LED lighting with various companies like Philips, Magic light and xiaomi are investing in this technology. Philips Hue is one of the largest growing organization when LED are concerned and they are investing on voice assisted LEDs. This might impact the global market of underwater lighting and expected rise in CAGR of xx.xx%. Based on the application of underwater lighting, the swimming pool market is projected to lead the market from 2019-2024. Based on the type of installation we use, the new installation segment of underwater global market is projected to grow at higher CAGR during the forecast period.

Segment Analysis:

The underwater lighting market has been segmented on the basis of product, application and by configuration.  Based on product, the market has been halogen, xenon, metal halide acid and LED. Based on the application, the market is divided into boat lighting, Dock lighting and decorative lighting, On the basis of configuration the lighting market has been segmented into head mounted , hand held and others.

Regional analysis:

On the basis of geography, the global market for underwater lighting has been segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. According to research, an increase in construction of the swimming pools due to increasing tourism industry and luxurious complexes equipped with modern amenities is expected to result in the growth of the underwater light market causing the Asia-Pacific region to lead the underwater lighting market from 2019-2024. The market in Europe and North America is also expected to increase in the underwater lighting market with huge demand from boats, super yachts and pool applications. Global market in Middle East and Africa is seemed to have a significant growth followed by support from non-marine applications as well.

Key Players:

The main key companies contributing in the market of underwater lighting are Aqualuma, OceanLED, Lumishore, Wipro, Deep Glow ,Underwaterkinetics and THERMALEC international, etc.

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