Global Marine Lighting Market: Introduction
Global market for marine lighting is highly competitive and is mainly driven by rising demand for energy-efficient lighting products, advanced water resistance lighting and reduced prices. Moreover, lighting are indispensable part of marine industry. The marine industry is highly dependent on the lightings for its proper functioning and also for providing aesthetic appearance to the ship. Therefore, the growing ship building activities across the globe coupled with positive outlook of seaborne trade activities is anticipated to drive the demand for marine lightings in the future. Additionally, growing cruise tourism activities across the globe is also forcing many investor to invest in the development of new cruises. This is further anticipated to create healthy growth opportunities for the marine lighting manufacturers during the forecast period.
Global Marine Lighting Market: Dynamics
Growing seaborne trade activities across the globe owing to establishment of healthy trade relations and positive economic growth is projected to fuel the growth of shipbuilding industry during the forecast period. This is further projected to create healthy demand for marine lighting in the future. Moreover, relatively economical nature of water transportation compared to other transportation modes is escalating the growth of shipping industry which will boost the demand for marine lightings during the projected period of time. Navy, sea security & patrol are the prominent end use sectors which are using the marine lighting to a significant extent. The marine lighting manufacturers are working on the production of the waterproof lighting and can with stand severe environmental condition around the water bodies. Therefore, the global market for marine lighting is projected to witness health Y-o-Y growth throughout the forecast period
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Global Marine Lighting Market: Segmentation
Global market of marine lighting can be segmented on the basis of application, technology, installation, end use and region.
On the basis of application, global marine lighting market is segmented as:
- Berth Lights
- Rope & Strip Lighting
- Navigation Lights
- Cockpit & Flood Lights
- Utility & Engine Room Lights
- Underwater LED Lights
On the basis of technology, global marine lighting market is segmented as:
On the basis of installation, global marine lighting market is segmented as:
On the basis of end use, global marine lighting market is segmented as:
Global Marine Lighting Market: Regional Outlook
Asia Pacific is expected to dominate the global marine lighting market owing to the presence of prominent shipbuilding countries such as China, Japan and South Korea in the region. Additionally, the increasing marine trade activities with the availability of large coastal areas in the countries of the region is also making the Asia Pacific a promising marine lighting market globally. Moreover, European shipbuilding industry is also anticipated to play major role in the healthy growth of marine lighting market. This can be attributed to the presence of huge fleet of ships in the European countries such as Germany, U.K. and Greece. Therefore, with the growing marine transportation activities coupled with presence of huge fleet in the Europe is projected to create healthy opportunities for the marine lighting manufacturers during the forecast period. Moreover, the increasing shipping activities in the countries of Latin America such as Brazil, Mexico, Colombia and Panama is making the marine lighting market of the region to hold significant potential. Furthermore, the oil & gas industry of Middle East & Africa is playing significant role in the water transportation activities. Which is further projected to make the Middle East & Africa a good marine lighting market. Additionally, North America is one of the prominent market of marine lighting global and is also projected to grow with decent pace over the projected period of time
Global Marine Lighting Market: Market Participants
The global market of marine lighting is highly fragmented, huge number of local and national level players are present across the globe. Moreover, list of some of the players engaged in the manufacturing and sales of marine lighting froe across the globe are mentioned below:
- Lumitec LLC
- Quick S.p.A. unipersonale
- OSRAM GmbH
- Alpenglow Marine Lights, LLC
- Hella Marine
- AZZ Inc.
- Marine Light Corp
- Light Corporation Group
- Imtra Corp.
- Innovative Lighting
- Vision X Europe
- Aqualuma LED Lighting
- ENSTO GROUP
- Savage Marine
- Nemalux Inc.
- Shadow Caster, Inc.
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