The market for underwater lighting is anticipated to grow to US$ 306 million in 2022 and is projected to reach US$ 523 million by 2032 with a CAGR of 5.5%. With various underwater activities over the past two decades, underwater lighting adoption is likely to increase. It is widely used for cave dives or water dives when it appears dark at night which is anticipated to boost the underwater light market share in recent years.
Some of the main factors driving demand for underwater light over the forecast period include an increase in underwater sports and entertainment, dive search operations in defence programmes and inside sunken vessels, and analysing underwater structures.
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Market players are discovered to have been active in producing goods with increased functionality and durability of the underwater light to expand the production of the underwater light market size in order to deliver excellent products at competitive rates.
Additionally, supplying specially developed and related products such as cameras and accessories developed for use in hazardous environments in addition to the underwater light is growing the underwater lights market trends. Because of technological advancements with high-end products, the underwater light statistics are expected to rise at a significant CAGR from 2022 to 2032.
In an emergency, divers utilise light signals to determine their depth. Considerations for constructing an effective underwater light include the brightness of the light (expressed in Lumens) and the beam angle (expressed in degree). This is one of the important aspects expected to drive the underwater light market growth during the forecast period.
The marine industry is anticipated to increase its use of underwater lighting in recent years because a wide area must be illuminated with a wide beam angle during underwater diving activities. The largest market share belongs to the marine industry, which is anticipated to increase sales of underwater lights during the projection period.
Market Scope:
Underwater lighting systems generally comprise lights which are guarded with resilient materials for hassle-free functioning in seas, lakes, ponds, and other underwater areas. As these lights often are submerged in saline water, it becomes essential for manufacturers in designing cases which are resistive to corrosion.
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Dominant Key Players on the Underwater Lighting market covered are:
- Aqualuma LED lighting
- Attwood
- Perko Inc.
- Shadow Caster inc.
- Underwater Lights Limited
- Ocean LED
- Griven
- WIBRE GMBH & CO.
- KG
- Spa Electrics
- Underwaterkinetics
- THERMALEC international
Recent Developments in Underwater Light Market are:
- In August 2019, the UK developed its new market that leading underwater light for the marine industry. The new launch product QTS-100 is a small and powerful underwater light which provides 20,000+ lumens of light.
- OceanLED has introduced the Explore Underwater LED Light Series. A technologically advanced and incredibly efficient flush-mount underwater LED light is included in the series. The company has developed two models in its Explore series: the E3 and the E6.
- Light & Motion’s Video Pro 3800 is a revolutionary underwater light. The light features both a power level and a battery condition indicator. The 3,800-lumen video light is also placed in a dome port optic, which improves illumination while reducing light fall-off along the beam’s edges.
Who Are Some Of The Key Competitors In The Underwater Light Market?
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.
The key playing industries are using several concepts and methodologies to expand the underwater light market size in the coming years. It includes partnerships, mergers, acquisitions, product launches and other emerging trends in the underwater light market during the forecast period from 2022 to 2032.
Key Segments
By Technology:
- Halogen and Xenon
- High Intensity Discharge (HID)
- Light Emitting Diode (LED)
- Others
By Type:
- Dive Lighting
- Marine Lights
- Non-marine Lights
By Sales Channel:
- OEMs
- Aftermarket
By Application:
- Stationary
- Mobile
By End User:
- Residential
- Commercial
- Non-commercial
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- MEA
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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