This Underwater Light market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Underwater Light market.
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.
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: 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.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil and Rest of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain,)
- Eastern Europe (Poland, Russia and Rest of Eastern Europe)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, and Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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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)
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:
On basis of application, the global underwater lights market segments into:
On the basis of end-user, the global underwater lights market segments into:
- Hotel, Restaurants, and Amusement Parks
- Divers and Related Service Provider Companies
- Dock and Ports
- Boats and Other Marine
- Oil and Gas
- Underwater Mining
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Frequently Asked Questions
What research methodology is used to develop the Underwater Light Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Underwater Light Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Underwater Light Market report?
In addition to up-to-date market figures and customized of the Underwater Light Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.