Global Marine Lighting Market Report 2019, Forecast to 2024: Analysis on Underwater Lighting, Dock Lights, Surface Mounts, Interior & Deck Lighting, and More - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 14, 2019--
The “Marine Lighting Market - Growth, Trends and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The Marine Lighting Market is estimated to grow at a CAGR of 4.72% during the forecast period.
Further, the growth in the usage of LEDs and the stringent regulations for the marine industry with regards to safety lights is expected to drive the marine lighting market.
Almost all governments across the world have specific lighting requirements defined for the operation of boats and ships of all sizes. For instance, the U.S. Coast Guard Navigation Rules, International-Inland, specifies lighting requirements for every type of watercraft. With the regulations being more specific about the use of the safety and navigation lights, shipbuilders are expected to demand more of these lights with properly defined specifications.
The market is also expected to considerably gain from the growing demand for cruise and luxury ships. According to the 2018 Cruise Industry Overview Report released by the Florida Caribbean Cruise Association, the Cruise industry is the fastest-growing category in the leisure travel market with a CAGR of 20.5% in the past five years. The use of Marine lighting is being done extensively in cruise ships to enhance the customer experience.
However, the requirement of expertise to enhance the lighting experience of any ship and the high initial investment might act as a barrier to the growth of this market.
Key Market Trends
LEDs are Expected to be the Fastest Growing Segment in this Market
Asia-Pacific will be the Largest Market During the Forecast Period
The Marine Lighting Market is a highly competitive market with a number of players offering solutions. The solutions offered by the companies vary in scale depending on the size of the vendor and its ability to produce hardware. Some of the recent developments in the market are:
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 LEDs are Expected to be the Fastest Growing Segment in this Market
4.2.2 Growth of Luxury Cruise Ships Market
4.2.3 Government Regulations will provide Impetus for the use of Safety and Navigation Lights
4.3 Market Restraints
4.3.1 Complex Lighting Systems and High Initial Investment will act as a Restraint
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Technology
5.2 By Type
5.2.1 UnderWater Lighting
5.2.2 Dock Lights
5.2.3 Surface Mount
5.2.4 Interior & Deck Lighting
5.3.1 North America
5.3.4 Latin America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 OSRAM Licht AG
6.1.2 Hella GmbH & Co KGaA
6.1.3 Koito Manufacturing Co. Ltd.
6.1.4 Lumishore Ltd.
6.1.5 Aqualuma LED Lighting
6.1.6 Foresti & Suardi S.p.A.
6.1.7 Attwood Corporation
6.1.8 E-Led Lighting Inc.
6.1.9 PTLX Global, LLC
6.1.10 Lumitec LLC
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ba1nbs
View source version on businesswire.com:https://www.businesswire.com/news/home/20191114005596/en/
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INDUSTRY KEYWORD: TRANSPORT MARITIME
SOURCE: Research and Markets
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PUB: 11/14/2019 11:13 AM/DISC: 11/14/2019 11:13 AM