Underwater Light Market 2019: Industrial Output, Import & Export, Consumer Consumption and Forecast 2028

Press Release

There has been a significant growth in underwater activities since past few years. This notable growth, along with the increasing number of search operation in water, with respect to defense programs, dive search inside sunken vessels, analyzing underwater structures, and other water sport activities. These are some of the major reasons for which underwater lights are in high demand. These factors serve as drivers for the growth in global underwater light market.

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  • Apart from this, in case of emergency, divers also use underwater lights to indicate there position in the water. A good underwater light comprise sharp beam angle, measured in degree, and brightness of the light, measured in Lumens. As a result, to provide better products are affordable cost, key players are likely to get involved in innovating products with more durability and advanced functionality for underwater lights.
  • Moreover, companies are also supplying developed on-demand, and other products, for example, accessories, cameras, and so on to be used in extreme environment, along with underwater lights. This is another factor bolstering the demand in global underwater light market.

On a more extensive scale, the drivers for development of the submerged lights market incorporate the high increment in the maritime submerged exercises for either geo-political or marine research purposes. Notwithstanding, the submerged light market isn’t constrained to the seas as it were. The evolving way of life, development in the travel industry, and expanding per capita salary has offered surge to the normal purchaser spending on relaxation exercises, which thus, is prompting the development of business spaces to satisfy the need for recreation over the globe.

Various underwater activities have witnessed high growth over the last couple of decades. The increase in underwater sports and amusement activities, dive search operations in defense programs and inside sunken vessels, and examining underwater structures, these are some key factors augmenting the demand growth of underwater lights. Also, in emergency situations, divers use light signals for locating their position at depth. The factors which play a key role in designing an effective underwater light include, the brightness of the light (expressed in Lumens) and the beam angle (expressed in degree). During underwater diving operations, the large area is required to be illuminated with wide beam angle. In order to provide superior products at competitive prices, market players are found to have been involved in developing products with improved functionality and durability of the underwater lights. Also, supplying specially developed and related products such as cameras, accessories developed for use in hazardous environmentsalong with the underwater light, etc. is among the key trends observed in the underwater lights market. Owing to the technological developments to meet the increasing demand for high-end products, the market for underwater lights is expected to increase at a significant CAGR over the forecast period of 2017–2027.

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Underwater light Market: Dynamics

On a broader-scale, the factors for growth of the underwater lights market include the high increase in the oceanic underwater activities for either geo-political or marine research purposes. However, the underwater light market is not limited to the oceans only; these lights can be found in our day-to-day life as well, from pools to small aquariums. The changing lifestyle, growth in tourism, and increasing per capita income has given rise to the average consumer spending on leisure activities, which in turn, is leading to the growth of commercial spaces to meet the demand for leisure from across the globe. Such commercial spaces are increasingly becoming an abode to showcase underwater scenery where the underwater lights are the essence. Further, the ability of the manufacturers to develop cost effective, energy efficient, and durable products in multi-color offerings is expected to reinforce the market from the supply side. Advances such as development of high-density light emitting diode (LED) technology, etc. are further expected to impulse the market players to incorporate and develop advanced technologies to not just supply the need, rather create the new demand.

The underwater light market is not limited to the sales of finished products; it also provides opportunity for growth of the market players having presence downward the value chain. Moreover, with competent knowledge of the market and technical know-how, backward integration can emerge as an industry-altering trend in the underwater lights market. This will lead to solidifying the current market position of the players, along with opening the new opportunity spaces for research and development on advanced materials used for underwater applications. Raw materials such as tritonium coating, aluminum bronze housing, injection molded transparent polymer, and etc. are used in the manufacture of underwater lights. The high-end materials serve as to protect the underwater lights from the harmful and corrosive environment of ocean or sea, but the high cost of these coatings and materials provides significant challenges to manufacturers. Another challenge associated with underwater lights include to render the underwater scenes as aesthetically and as naturally as possible, without compromising the overall cost of the system. Taking the pace, at which developments are taking place, into account, the market for underwater lights is expected to overcome/ moderate such challenges and provide significant opportunities for growth over the forecast years.

Underwater light market: Segmentation

Out of the many ways by which the global underwater lights market can be segmented is on the basis of lighting technology, type, sales channel, application, and end-user.

On the basis of lighting technology, the global underwater light market segments into:

  • Halogen and Xenon
  • High Intensity Discharge (HID)
  • Light Emitting Diode (LED)
  • Others

On the basis of type, the global underwater light market segments into:

  • Dive Lighting
    • By Configuration
      • Head Mounted
      • Hand-held and Others
    • By Classification
      • Primary Lights
      • Secondary Lights
      • Video Lights
  • Other Marine and Boat Lights
  • Non-marine Lights
    • Pool Lights
    • Aquarium and Other Lights

On the basis of sales channel, the global underwater lights market segments into:

  • OEMs
  • Aftermarket

On basis of application, the global underwater lights market segments into:

  • Stationary
  • Mobile

On the basis of end-user, the global underwater lights market segments into:

  • Residential
  • Commercial
    • Hotel, Restaurants, and Amusement Parks
    • Divers and Related Service Provider Companies
    • Defense
    • Dock and Ports
    • Boats and Other Marine
      • Commercial
      • Non-commercial
    • Industrial
      • Oil and Gas
      • Underwater Mining
      • Others

Underwater light market: Region-wise outlook:

Owing to the increasing underwater operations in the Asia Pacific region, the market is expected to witness significant growth opportunities over the coming years, with support from the non-marine applications as well. The market in Europe and USA is also expected to increase with strong demand from boat, super yachts, and pool applications. The growth in urbanization and development of port-cities is additionally expected to boost the demand for dock lightning across the EMEA region over the coming years.

Underwater light market: Key Participants:

Some of the key participants identified across the value chain of the underwater lights market include: Aqualuma LED lighting, Attwood, Perko Inc., Shadow Caster inc., Underwater Lights Limited, Ocean LED, Griven, WIBRE GMBH & CO., KG, Spa Electrics, Underwaterkinetics, and THERMALEC international, etc.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

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