Underwater Lighting Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Underwater Lighting Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Global Underwater Lighting Market: Overview
The demand within the global underwater lighting market has been rising on account of the rapid pace of urbanization. The use of underwater lighting spans across a wide range of sectors, industries, and construction units. This factor has given a major thrust to the growth graph of the global underwater lighting market. Underwater lighting systems are based on LEDs technologies, and these lights are shielded with resilient materials that can withstand high water pressure. The relevance of LED technology has been growing across the globe, and several construction entities prefer to use these lights in their ventures. The advent of underwater lighting system has given a major push back to other types of lighting systems. This is because most vendors have focused on marketing underwater lighting systems based on their supreme qualities.
The investment index of the global underwater lighting market is expected to improve by leaps and bounds in the years to follow. Furthermore, the need for a seamless lighting industry that offers a high level of customization can be met with the help of these lighting systems. Hence, the global underwater lighting market is expected to accumulate voluminous revenues in the years to follow. The penetration of underwater lighting systems in the local markets has also played a vital role in enhancing the prospects of market growth.
A report on the global underwater lighting market is a sound explanation of the forces that have subsisted market growth. Furthermore, the report also explains the various end-uses of underwater lighting, and this is a key idea towards gauging the potential of the market. A regional analysis of the global underwater lighting market reveals that the growing pace of urbanization in multiple regions has given a push to market growth.
Global Underwater Lighting Market: Notable Developments
Some of the key developments that have shaped up in the global underwater lighting market are:
- On Board Marine Group, Hong Kong and OceanLED partnered with Poseidon Marine Asia in order to increase their changes of accelerating the rate of returns. This partnership has also enabled the former vendors to be able to manufacture leisure lighting products.
- Blue Water LED’s assets were acquired by T-H Marine, and this acquisition has proved to be mutually beneficial for both the parties. The ability of Blue Water LEDs to manufacture uniquely-designed LEDs has played to the advantage of the latter.
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Global Underwater Lighting Market: Growth Drivers
- Rising Pace of Urbanization
The opening of new urban centers in multiple regions has played a huge role in the growth of the global underwater lighting market. The aesthetics of new buildings, shopping complexes, and houses largely depend on the use of attractive lighting systems. Furthermore, most of these construction sites have a swimming pool or a water area in their construction plan. Hence, the global underwater lighting market has been growing in size and revenue over the past decade.
- Increase in Commercial Fishing
The increase in the annual volume of commercial fishing operations has given a thrust to the growth of the global underwater lighting market. A number of fishes travel up to the surface of the water during night hours which in turn gives rise to the need for underwater lighting systems.
Global Underwater Lighting Market: Regional Outlook
On the basis of geography, the global underwater lighting market has been segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The underwater lighting market in Europe is expanding alongside rising pace of urbanization.
The global underwater lighting market is segmented as:
By Light Source
- LED
- Halogen
- Metal Halide Lamps
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