The Global Underwater Lighting Market was valued at US$ 302.7 billion in 2021 and is predictable to reach US$ 490 billion by 2030 which is projected to attain a CAGR of 5.5 % during the forecast period from 2021- 2030.
Underwater lighting systems generally consist of lights that are guarded with resilient materials for their smooth functioning in lakes, seas, ponds, or underwater areas. It is used for the decoration of swimming pools, for night fishing, and as underwater lights for appealing underwater visual landscaping.
The prime reasons attributed for the growth of the global underwater lighting market is owing to rising demand for underwater lighting in swimming pools, installation lights for aesthetic visuals, and attracting fish during night fishing. Such lights are also installed in sports facilities, hotel swimming pools, spas for attracting consumers and enjoying the pleasant atmosphere. The demand for LED has been gaining traction in the past few years owing to its energy-efficient characteristic and long-expected lifetime which is also anticipated for the growth of the global underwater lighting market during the forecast period.
Underwater lighting is also used by divers and oceanographers to explore and navigate inside the ocean. LEDs lighting systems are used for clear and improved illumination underwater compared to old traditional lighting which results in scattering of light and makes it difficult in delivering ambient light to the divers. However, the higher installation cost of LEDs and corrosion of underwater lighting systems poses major restraints for the growth of the underwater lighting market.
The Global Underwater Lighting Market is segmented by light source, mounting type, installation type, application, and region. Based on the light source, it is categorized into halogen, metal halide lamps, and LED. By mounting type, it bifurcates into surface mounted and flush mounted. The installation type of the lighting system is categorized into retrofit installation and new installation. By application, it is bifurcated into swimming pools, fountains, boats/ yacht lighting, and other (ponds and aquariums). Based on regional insights, the global underwater lighting market is categorized into North America (US, Canada, Mexico, Rest of America), Asia Pacific (India, China, Rest of Asia Pacific), Europe (UK, Germany, Russia, Rest of Europe) and Rest of the world (Latin America and Middle East & Africa).
Asia Pacific region is anticipated to deliver rapid growth during the forecast period owing to a rise in the number of swimming pool construction in hotels and residential complexes, rising tourism industry & development of luxurious residential societies equipped with modern facilities in the region. In addition, increasing disposable income of the consumers and rising demand for luxury cruises created a huge demand for yachts in the upcoming years thus augmenting the global underwater lighting market.
Prominent players inducing the Global Underwater Lighting Market are Acuity Brands Inc., Signify Holding, Lumishore, Aqualuma LED Lighting, Eaton Corporation plc, BIRNS Inc., Underwater Lights Limited, Perko Inc., Fire Water Marine, Hayward Industries Inc., Shadow Caster Inc., OceanLED Marine Ltd., Attwood Corporation, T-H Marine Supplies Inc., Dabmar Lighting Inc., Lumitec LLC, Batsystem, and Shenzhen Sanxinbao Semiconductor Lighting Co. Ltd. Among others.
Segmentation and Scope of the Global Underwater Lighting Market
Global Underwater Lighting Market is segmented by light source, mounting type, installation type, application, and region.
By Light Source
By Mounting Type
By Installation Type
Rest of World
Middle East & Africa
Prominent players in the Global Underwater Lighting Market among other includes