Underwater Lighting Market Size, Share, Growth Analysis, By Light Source(Light-Emitting Diode (LED), Xenon, Halogen, and Others), By Mounting Type(Flush-Mounted and Surface-Mounted), By Installation Type(New Installation and Retrofit Installation), By Application(Boat/Yacht Lighting, Swimming Pools, Fountains, and Others), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Underwater Lighting Market?

Global Underwater Lighting Market size was valued at USD 306 million in 2022 and is poised to grow from USD 322.83 million in 2023 to USD 495.4 million by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

Report ID: SQMIG20D2235 | Region: Global | Published Date: March, 2024
Pages: 173 | Tables: 115 | Figures: 72

Underwater Lighting Market News

In November 2021, OceanLED, a renowned supplier of underwater lighting announced the launch of its new E2 underwater LED light, which is an addition to its existing Explore range. The new product has wide and narrow beam options for extensive use and is suitable for use in different underwater applications.

In April 2021, Signify, a leading name in the lighting business, announced the launch of its new solar-power pond lights. The light was claimed to improve the feed conversion ratio for different fish species.

Underwater Lighting Market Report Snapshots

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Underwater Lighting Market size was valued at USD 306 million in 2022 and is poised to grow from USD 322.83 million in 2023 to USD 495.4 million by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

Underwater lighting providers experiment with the development of new technologies and styles of light to maximize their sales and revenue generation potential going forward. Companies focus on the integration of advanced LED technologies to maximize their sales potential and create innovative designs to attract more customers and maximize their revenue generation potential during the forecast period. Underwater lighting market players also focus on expanding their distribution networks in developing regions where marine tourism activities are flourishing. 'Underwater Lights Limited', 'THERMALEC international', 'Signify Holding', 'Shadow Caster inc.', 'Attwood', 'Eaton Corporation', 'Ocean LED', 'Acuity Brands', 'Spa Electrics', 'Perko Inc.', 'WIBRE GMBH & CO.', 'Hayward Industries Inc.', 'Aqualuma LED lighting', 'Griven', 'Lumitec LLC'

Growing Marine Tourism

Smart Lighting and Automation: Underwater lighting market players should focus on integrating smart technologies such as automation to enhance the efficiency and attractiveness of underwater lighting products. A wide range of colors and advanced brightness adjustments are some key benefits that integration of these technologies will bring to the underwater lighting marketplace.

The sales of underwater lighting solutions in North America hold a dominant share. The flourishing marine and offshore industries in North America particularly in the United States and Canada are boosting the underwater lighting market growth. Respective governments in the region are investing in underwater research and exploration activities. Furthermore, more strict safety and environmental regulations are boosting the demand for advanced lighting solutions in North America. The increasing popularity of underwater tourism in various areas of North America is further fueling the market growth.

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