Underwater Lighting Market by Light Source (LED, Halogen, Metal Halide Lamps), Mounting Type (Flush Mounted and Surface Mounted), Installation Type (New Installations and Retrofit Installations), Application, and Region
Updated on : May 08, 2023
The global Underwater Lighting Market in terms of revenue was estimated to be worth USD 279 million in 2019 and is poised to reach USD 348 million by 2024, growing at a CAGR of 4.5% from 2019 to 2024. The new research study consists of an industry trend analysis of the market.
Increased use of these lights for night fishing and their installation in commercial swimming pools are expected to drive the growth of the market across the globe. Furthermore, the increasing substitution of traditional lights with LEDs is also expected to open growth opportunities for the underwater lighting market during the forecast period.
Underwater Lighting Market Segment Overview
Based on application, the swimming pools segment is projected to lead the underwater lighting market from 2019 to 2024.
Ongoing urbanization is expected to lead to an improvement in the lifestyle of masses, thereby contributing to an increase in the demand for multiple amenities such as swimming pools within the same infrastructures. This, in turn, is expected to contribute to rise in demand for underwater lighting to be used in swimming pools. According to the United Nations Department of Economic and Social Affairs (UN DESA), over half of the global population was residing in urban areas in 2016, and this number is expected to increase during the forecast period, thereby providing required impetus to the growth of the underwater lighting market across the globe during the forecast period.
Based on mounting type, the surface mounted segment of the underwater lighting market is projected to grow at a higher CAGR than the flush mounted segment from 2019 to 2024.
The underwater lighting market for surface mounted is projected to grow at a higher CAGR than the market for flush mounted during the forecast period. Surface-mounted lights are standard fixtures attached to recessed junction boxes. They are mainly of two types, namely, ceiling-mounted lights and wall-mounted lights. Surface-mounted light fixtures are attached to exposed ceilings with the fixtures completely visible. These fixtures are used in fountains, boats/yachts, pools, aquariums, and ponds. Surface-mounted underwater lighting is cheaper as compared to flush-mounted lighting as it does not require drilling. Therefore, the demand for surface-mounted lighting is expected to increase in the coming years.
The Asia Pacific region is projected to lead the underwater lighting market from 2019 to 2024.
An increase in the number of swimming pool construction projects in Asia Pacific due to its flourishing tourism industry and development of luxurious residential complexes equipped with modern amenities is expected to drive the growth of the underwater lighting market in the region. The demand for luxury cruises due to the high disposable income of consumers has resulted in the growing demand for yachts that has also fueled the growth of the underwater lighting system market in the region. Countries such as China, Japan, South Korea, India, Taiwan, Australia, and Singapore are expected to be the major contributors to the development of the Asia Pacific underwater lighting market.
Key Market Players In Underwater Lighting Market
Hayward Industries, Inc. (Hayward Industries, US), Acuity Brands, Inc. (Acuity Brands, US), Shadow Caster, Inc. (Shadow Caster, US), Signify Holding (Signify, Netherlands), OceanLED Marine Ltd. (OceanLED, UK), Lumishore (Lumishore, UK), Attwood Corporation (Attwood, US), Aqualuma LED Lighting (Aqualuma, Australia), T-H Marine Supplies, Inc. (T-H Marine, US), and Eaton Corporation plc (Eaton, Ireland) are a few major players operating in the underwater lighting market. The market is characterized by players catering to the niche demands of consumers. For instance, some of the companies manufacture and market LEDs only for Underwater Lighting Market applications.
Underwater Lighting Market Report Scope:
|
Report Metric |
Details |
| Revenue Forecast in 2024 | USD 348 Million |
| Market Size Value in 2019 | USD 279 Million |
|
Forecast period |
2019–2024 |
|
Base year considered |
2018 |
|
Forecast units |
USD million (value) |
|
Segments covered |
|
|
Regions covered |
|
|
Market Leaders |
|
| Top Companies in North America |
|
| Largest Growing Region | Asia Pacific |
| Largest Market Share Segment | Swimming pools segment |
| Highest CAGR Segment | Surface mounted segment |
Underwater lighting market segmentation:
In this report, the underwater lighting market has been segmented into the following:
Underwater Lighting Market, by Light Source:
- LED
- Others (Halogen, Metal Halide Lamps, etc.)
Underwater Lighting Market, by Mounting Type:
- Surface Mounted
- Flush Mounted
Underwater Lighting Market, by Installation Type:
- New Installations
- Retrofit Installations
Underwater Lighting Market, by Application:
- Swimming Pools
- Boat/Yacht Lighting
- Fountains
- Others (Aquariums and Ponds)
Underwater Lighting Market, by Region:
- Americas
- Europe
- Asia Pacific (APAC)
- Rest of the World (RoW)
Recent Developments In Underwater Lighting Market
|
Report Metric |
Details |
|
June 2018 |
OceanLED and On Board Marine Group Hong Kong entered into a partnership with Poseidon Marine Asia to make it an exclusive dealer of leisure products of OceanLED in Taiwan. |
|
May 2018 |
T-H Marine acquired the assets of Blue Water LED Enterprises, LLC (Blue Water), which designs, assembles, and sells a broad and unique line of LED light kits and lighting components for boats, kayaks, autos/trucks, trailers, golf carts, RVs, off-road vehicles, public safety vehicles, and utility trucks. |
|
February 2018 |
Lumishore introduced next-generation thru-hull lights with additional features, including Multi-function Display (MFD) control, plug-and-play installation, and upgraded functionalities. |
|
October 2017 |
Lumishore introduced a new range of bronze surface-mounted lights, M-Series, designed specifically for 25–50 inch (7.5–15 meter) boats that require a durable and high-quality bronze hull fixture as well as for boat owners looking for powerful but small and easy-to-fit lights. |
|
April 2016 |
Aqualuma announced the launch of Highbay with Uplight, specially designed for the big box retail environments, wherein studies have shown a negative correlation between unlit ceilings and shopper comfort, and therefore, the time spent in stores. |
Critical questions the report answers:
- Where will all these developments take the industry in the mid- and long-term?
- Which are the upcoming applications of underwater lighting?
- How is underwater lighting influencing the swimming pools and fountains market?
- Which mounting type is expected to penetrate significantly in the underwater lighting market?
- What type of light sources offer growth opportunities for the manufacturers of underwater lights?
Frequently Asked Questions (FAQ):
Which light source of underwater lighting is expected to penetrate significantly during the forecast period?
LEDs have evolved as a major lighting technology as they are more environmentally beneficial than High intensity Discharge (HID)/halogen lights in terms of power consumption, reliability, durability, and longevity. Moreover, LED underwater lights are also safe as they do not get heated and can easily be switched on/off without waiting for them to cool down. LEDs ensure energy saving as well as require less maintenance. Companies such as Signify, Ocean LED, and Shadow Caster offer only LED underwater lighting.
Which are the major companies in the market? What are their major strategies to strengthen their market presence?
Signify Holding ( Netherlands), Eaton Corporation plc (Ireland), Acuity Brands, Inc. ( US), and Hayward Industries, Inc. (US), are some of the major companies providing underwater lighting. Product launches and developments, expansions, merger and acquisitions and partnerships are a few strategies adopted by key players to strengthen their position in the underwater lighting market .
Which region is expected to witness significant demand for underwater lighting in the coming years?
APAC is expected to have the largest market share in terms of value, It is the fastest-developing region. An increase in the number of swimming pool construction projects in Asia Pacific due to its flourishing tourism industry and development of luxurious residential complexes equipped with modern amenities are expected to drive the growth of the underwater lighting market in the region. The growing yacht industry due to increasing demand for luxury cruises in the region is also projected to fuel the growth of the underwater lighting market in the Asia Pacific region in the coming years.
Which are the major application of this market?
"Swimming pools, fountains, boat/yacht lighting, and others are the application of underwater lighting market. Swimming pools are fitted with underwater lights to ensure their safe use during nighttime as well as to enhance their aesthetic appeal; for instance, with LEDs. Ongoing urbanization is expected to lead to an improvement in the lifestyle of people, thereby contributing to an increase in the demand for multiple amenities, such as swimming pools, within the same infrastructure. This, in turn, is expected to contribute to the rise in demand for lighting to be used in swimming pools."
Which are the major opportunities in the underwater lighting market?
Replacement of traditional lighting with LED underwater lighting are the main opportunity for underwater lighting market. LEDs are quickly catching up with other forms of lighting in terms of total light output and efficiency. They are very different from traditional light sources in terms of optical design, heat management, and dimming control, among other characteristics. LEDs are highly energy-efficient, and their efficacy of current generation is about 6 times greater than incandescent light bulbs. .
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Table of Contents
1 Introduction (Page No. - 15)
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Regional Scope
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 List of Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Data From Primary Sources
2.1.3 Secondary and Primary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach Used to Arrive at the Market Size By Bottom-Up Analysis
2.2.1.2 Approach for Capturing Company-Specific Information in the Value Chain of the Underwater Lighting Market
2.2.2 Top-Down Approach
2.2.2.1 Approach Used to Arrive at the Market Size By Top-Down Analysis
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary (Page No. - 28)
4 Premium Insight (Page No. - 32)
4.1 Attractive Growth Opportunities in Underwater Lighting Market
4.2 Market, By Light Source
4.3 Underwater Lighting Market in Asia Pacific, By Application and Country
4.4 Market, By Mounting Type
4.5 Underwater Lighting Market, By Country, 2019
5 Market Overview (Page No. - 35)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Demand for Underwater Lighting in Swimming Pools
5.2.1.2 Use of Underwater Lights as A Fish Attractor for Night Fishing
5.2.1.3 Increased Demand for Underwater Lights in Aesthetic Water-Featured Landscaping
5.2.1.4 Increased Number of Government Initiatives to Support the Adoption of Energy-Efficient LEDs
5.2.2 Restraints
5.2.2.1 High Installation Costs of Energy-Efficient LEDs
5.2.3 Opportunities
5.2.3.1 Replacement of Traditional Lighting With LED Underwater Lighting
5.2.4 Challenges
5.2.4.1 High Absorption of Light Underwater
5.3 Value Chain Analysis
6 Underwater Lighting Market, By Light Source (Page No. - 40)
6.1 Introduction
6.2 Light Emitting Diode (LED)
6.2.1 Benefits Such as Energy Saving, Less Maintenance Driving the Adoption of LED in Market
6.3 Others
6.3.1 Metal Halides and Xenon Lamps are the Other Light Sources Which Driving Underwater Lighting Market
7 Underwater Lighting Market, By Mounting Type (Page No. - 44)
7.1 Introduction
7.2 Flush Mounted
7.2.1 Swimming Pool is the Major Application Area for Flush Mounted
7.3 Surface Mounted
7.3.1 Surface Mounted is Expected to Hold Larger Share of Market
8 Underwater Lighting Market, By Installation Type (Page No. - 47)
8.1 Introduction
8.2 New Installations
8.2.1 Growth in Construction of Swimming Pools and Fountains Application Driving New Installations Market
8.3 Retrofit Installations
8.3.1 LED Retrofitting Spurs the Growth of Retrofit Installations
9 Underwater Lighting Market By Application (Page No. - 50)
9.1 Introduction
9.2 Boat/Yacht Lighting
9.2.1 to Create Beautiful Environment and to Attract Fishes Creates Need for Underwater Lights in the Boats/Yachts
9.3 Swimming Pools
9.3.1 Swimming Pools is Expected to Hold Largest Share of Market
9.4 Fountains
9.4.1 Growth in Entertainment Industry and Infrastructure Projects Driving the Growth of Fountains in Underwater Lighting Market
9.5 Others
9.5.1 Aquariums and Ponds are the Others Application Driving the Market
10 Regional Analysis (Page No. - 55)
10.1 Introduction
10.2 Americas
10.2.1 North America
10.2.1.1 US
10.2.1.1.1 US is Expected to Hold Largest Share of Underwater Lighting Market in North America
10.2.1.2 Canada
10.2.1.2.1 Canada is Expected to Grow at Highest Rate
10.2.1.3 Mexico
10.2.1.3.1 Longest Underwater Cave and Aquariums Driving the Market in Mexico
10.2.2 South America
10.2.2.1 Brazil
10.2.2.1.1 Infrastructure Development Projects Driving Market in Brazil
10.2.3 Rest of South America
10.3 Europe
10.3.1 Germany
10.3.1.1 Growth in Amusement Parks and Fountains Driving the Underwater Lighting Market in Germany
10.3.2 UK
10.3.2.1 Booming Swimming Pool Industry Spurs the Growth of Market in UK
10.3.3 France
10.3.3.1 France is Expected to Grow at Highest Rate in Europe
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 China is Expected to Hold Largest Share of Market in APAC
10.4.2 Japan
10.4.2.1 Fountains Application is Expected to Drive the Market in Japan
10.4.3 India
10.4.3.1 India is Expected to Grow at Highest Rate in APAC
10.4.4 Rest of Asia Pacific
10.5 Rest of the World (RoW)
10.5.1 Middle East
10.5.1.1 Middle East is Expected to Hold Larger Share of Market in RoW
10.5.2 Africa
10.5.2.1 Increase in Construction of Swimming Pools Driving the Growth of Africa in RoW
11 Competitive Landscape (Page No. - 82)
11.1 Overview
11.2 Market Ranking Analysis 2018: Underwater Lighting Market
11.3 Competitive Situation and Trends
11.3.1 Product Developments, 2016-2018
11.3.2 Partnerships/Collaborations/Agreements
11.3.3 Mergers & Acquisitions
11.3.4 Expansions
11.4 Competitive Leadership Mapping
11.4.1 Visionary Leaders
11.4.2 Dynamic Differentiators
11.4.3 Innovators
11.4.4 Emerging Companies
12 Company Profile (Page No. - 88)
12.1 Key Players
12.1.1 Signify (Formerly Philips Lighting)
12.1.1.1 Business Overview
12.1.1.2 Products Offered
12.1.1.3 SWOT Analysis
12.1.1.4 MnM View
12.1.2 Eaton
12.1.2.1 Business Overview
12.1.2.2 Products Offered
12.1.2.3 SWOT Analysis
12.1.2.4 MnM View
12.1.3 Acuity Brands
12.1.3.1 Business Overview
12.1.3.2 Products Offered
12.1.3.3 SWOT Analysis
12.1.3.4 MnM View
12.1.4 Hayward Industries, Inc.
12.1.4.1 Business Overview
12.1.4.2 Products Offered
12.1.4.3 SWOT Analysis
12.1.4.4 MnM View
12.1.5 Lumishore
12.1.5.1 Business Overview
12.1.5.2 Products Offered
12.1.5.3 Recent Developments
12.1.5.4 SWOT Analysis
12.1.5.5 MnM View
12.1.6 T-H Marine
12.1.6.1 Business Overview
12.1.6.2 Products Offered
12.1.6.3 Recent Developments
12.1.6.4 MnM View
12.1.7 Shadow Caster, Inc.
12.1.7.1 Business Overview
12.1.7.2 Products Offered
12.1.7.3 Recent Developments
12.1.7.4 MnM View
12.1.8 Attwood
12.1.8.1 Business Overview
12.1.8.2 Products Offered
12.1.8.3 MnM View
12.1.9 Aqualuma
12.1.9.1 Business Overview
12.1.9.2 Products Offered
12.1.9.3 Recent Developments
12.1.9.4 MnM View
12.1.10 Oceanled
12.1.10.1 Business Overview
12.1.10.2 Products Offered
12.1.10.3 Recent Developments
12.1.10.4 MnM View
12.2 Other Key Players
12.2.1 Dabmar Lighting, Inc.
12.2.2 Lumitec LLC
12.2.3 Perko Inc.
12.2.4 Wibre
12.2.5 Submertec
12.3 Start-Up Ecosystem
12.3.1 G1 Energy Solutions Private Limited
12.3.2 Shenzhen Sanxinbao Semiconductor Lighting Co., Ltd.
12.3.3 Arihant LED Lights
12.3.4 Global Light & Power LLC
12.3.5 Fire Water Marine
13 Appendix (Page No. - 112)
13.1 Insights From Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
List of Tables (70 Tables)
Table 1 Underwater Lighting Market, By Light Source, 2016–2024 (USD Million)
Table 2 Market for LED, By Region, 2016–2024 (USD Million)
Table 3 Underwater Lighting for Others, By Region, 2016–2024 (USD Million)
Table 4 Underwater Lighting Market, By Mounting Type, 2016–2024 (USD Million)
Table 5 Market for Flush Mounted, By Region, 2016–2024 (USD Million)
Table 6 Underwater Lighting Market for Surface Mounted, By Region, 2016–2024 (USD Million)
Table 7 Market, By Installation Type, 2016–2024 (USD Million)
Table 8 Underwater Lighting for New Installations, By Region, 2016–2024 (USD Million)
Table 9 Underwater Lighting for Retrofit Installations, By Region, 2016–2024 (USD Million)
Table 10 Market, By Application, 2016–2024 (USD Million)
Table 11 Underwater Lighting Market for Boat/Yacht Lighting, By Region, 2016—2024 (USD Million)
Table 12 Market for Swimming Pools, By Region, 2016—2024 (USD Million)
Table 13 Market for Fountains, By Region, 2016—2024 (USD Million)
Table 14 Underwater Lighting Market for Other Applications, By Region, 2016—2024 (USD Million)
Table 15 Market, By Region, 2016–2024 (USD Million)
Table 16 Americas Market, By Region, 2016–2024 (USD Million)
Table 17 Americas Market, By Light Source, 2016–2024 (USD Million)
Table 18 Americas Market, By Application, 2016–2024 (USD Million)
Table 19 Americas Market, By Mounting Type, 2016–2024 (USD Million)
Table 20 Americas Underwater Lighting Market, By Installation Type, 2016–2024 (USD Million)
Table 21 North America Market, By Country, 2016–2024 (USD Million)
Table 22 North America Underwater Lighting Market , By Light Source, 2016–2024 (USD Million)
Table 23 North America Market, By Application, 2016–2024 (USD Million)
Table 24 North America Market, By Mounting Type, 2016–2024 (USD Million)
Table 25 North America Market, By Installation Type, 2016–2024 (USD Million)
Table 26 US Market, By Light Source, 2016–2024 (USD Million)
Table 27 Canada Market, By Light Source, 2016–2024 (USD Million)
Table 28 Mexico Underwater Lighting Market, By Light Source, 2016–2024 (USD Million)
Table 29 South America Market, By Country, 2016–2024 (USD Million)
Table 30 South America Market, By Light Source, 2016–2024 (USD Million)
Table 31 South America Underwater Lighting Market, By Application, 2016–2024 (USD Million)
Table 32 South America Market, By Mounting Type, 2016–2024 (USD Million)
Table 33 South America Market, By Installation Type, 2016–2024 (USD Million)
Table 34 Brazil Underwater Lighting Market, By Light Source, 2016–2024 (USD Million)
Table 35 Rest of South America Market, By Light Source, 2016–2024 (USD Million)
Table 36 Europe Market, By Country, 2016–2024 (USD Million)
Table 37 Europe Market, By Light Source, 2016–2024 (USD Million)
Table 38 Europe Market, By Application, 2016–2024 (USD Million)
Table 39 Europe Market, By Mounting Type, 2016–2024 (USD Million)
Table 40 Europe Market, By Installation Type, 2016–2024 (USD Million)
Table 41 Germany Market, By Light Source, 2016–2024 (USD Million)
Table 42 UK Market, By Light Source, 2016–2024 (USD Million)
Table 43 France Market, By Light Source, 2016–2024 (USD Million)
Table 44 Rest of Europe Market, By Light Source, 2016–2024 (USD Million)
Table 45 Asia Pacific Market, By Country, 2016–2024 (USD Million)
Table 46 Asia Pacific Market, By Light Source, 2016–2024 (USD Million)
Table 47 Asia Pacific Market, By Application, 2016–2024 (USD Million)
Table 48 Asia Pacific Underwater Lighting Market, By Mounting Type, 2016–2024 (USD Million)
Table 49 Asia Pacific Market, By Installation Type, 2016–2024 (USD Million)
Table 50 China Market, By Light Source, 2016–2024 (USD Million)
Table 51 Japan Market, By Light Source, 2016–2024 (USD Million)
Table 52 India Market, By Light Source, 2016–2024 (USD Million)
Table 53 Rest of Asia Pacific Market, By Light Source, 2016–2024 (USD Million)
Table 54 RoW Market, By Region, 2016–2024 (USD Million)
Table 55 RoW Market, By Light Source, 2016–2024 (USD Million)
Table 56 RoW Underwater Lighting Market, By Application, 2016–2024 (USD Million)
Table 57 RoW Market, By Mounting Type, 2016–2024 (USD Million)
Table 58 RoW Market, By Installation Type, 2016–2024 (USD Million)
Table 59 Middle East Market, By Light Source, 2016–2024 (USD Million)
Table 60 Middle East Market, By Application, 2016–2024 (USD Million)
Table 61 Middle East Underwater Lighting Market, By Mounting Type, 2016–2024 (USD Million)
Table 62 Middle East Market, By Installation Type, 2016–2024 (USD Million)
Table 63 Africa Market, By Light Source, 2016–2024 (USD Million)
Table 64 Africa Market, By Application, 2016–2024 (USD Million)
Table 65 Africa Market, By Mounting Type, 2016–2024 (USD Million)
Table 66 Africa Market, By Installation Type, 2016–2024 (USD Million)
Table 67 Product Developments, 2016–2018
Table 68 Partnerships/Collaborations/Agreements, 2016–2018
Table 69 Mergers & Acquisitions, 2016–2018
Table 70 Expansions, 2016–2018
List of Figures (27 Figures)
Figure 1 Market Segmentation
Figure 2 Underwater Lighting Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Surface Mounted Segment to Lead Market From 2019 to 2024
Figure 7 LED Segment to Lead Market From 2019 to 2024
Figure 8 New Installations Segment of Market to Grow at A Higher CAGR Than Retrofit Installations Segment From 2019 to 2024
Figure 9 Swimming Pools Segment of Market Projected to Grow at Highest CAGR From 2019 to 2024
Figure 10 Asia Pacific Accounted for the Largest Share of Market in 2018
Figure 11 Increasing Demand for Installation of Lights in Swimming Pools is Driving Growth of Market
Figure 12 LED Segment Projected to Lead Market From 2019 to 2024
Figure 13 Swimming Pools Segment and China to Account for the Largest Share of Market in Asia Pacific By 2024
Figure 14 Surface Mounted Segment to Lead Market From 2019 to 2024
Figure 15 China to Lead Market in 2019
Figure 16 Increased Demand for Underwater Lighting in Swimming Pools is Driving the Growth of Market
Figure 17 Major Value Added By Original Equipment Manufacturers and Software Providers
Figure 18 Market, By Light Source
Figure 19 Market: Geographic Snapshot
Figure 20 Americas Market Snapshot
Figure 21 Europe Market Snapshot
Figure 22 Asia Pacific Market Snapshot
Figure 23 Companies Adopted Partnerships and Product Developments as Key Growth Strategies Between 2016 and 2018
Figure 24 Ranking of Key Players in Market, 2018
Figure 25 Competitive Leadership Mapping of Market, 2018
Figure 26 Signify: Company Snapshot
Figure 27 Acuity Brands: Company Snapshot
The study involved 4 major activities to estimate the current size of the underwater lighting market. Exhaustive secondary research was carried out to collect information on the market as well as its peer markets and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both, top-down and bottom-up approaches were employed to estimate the overall size of the underwater lighting market. Thereafter, market breakdown and data triangulation were used to estimate sizes of different segments and subsegments of the market.
Secondary Research
Secondary sources referred to in this research study include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, underwater lighting-related journals such as SAGE journals; certified publications; directories; and databases. The secondary data was collected and analyzed to arrive at the overall market size estimations, which were further validated by primary research.
Primary Research
In the primary research process, various primary sources from both, supply and demand sides were interviewed to obtain qualitative and quantitative information relevant to this report on the underwater lighting market. Extensive primary research was conducted after understanding and analyzing the underwater lighting market through secondary research. Several primary interviews were conducted with key opinion leaders from both, demand- and supply-side vendors across 4 regions: the Americas, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). The market in RoW was studied for the Middle East and Africa. Approximately 25% of the primary interviews were conducted with the demand side, while 75% with the supply side. This primary data was collected mainly through telephonic interviews, which accounted for 80% of the total primary interviews. Besides, questionnaires and emails were also used to collect the data.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both, top-down and bottom-up approaches were implemented to estimate and validate the total size of the underwater lighting market. These methods were also used extensively to estimate the size of various segments and subsegments. The research methodology used to estimate the market size included the following steps:
- The key players in the industry and markets were identified through extensive secondary research.
- The supply chain of the industry and the market size in terms of value were determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size—using the market size estimation processes explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, demand and supply sides across different end-use applications.
Study Objectives
- To define, describe, and forecast the size of the underwater lighting market, in terms of value, based on light source, mounting type, installation type, application, and region
- To forecast the size of the market and its segments with respect to 4 main regions, namely, the Americas, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
- To provide detailed information regarding the major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the total market
- To analyze the opportunities in the market for stakeholders and provide a detailed competitive landscape of the market
- To strategically profile the key players in the market and comprehensively analyze their market ranking and core competencies
- To analyze competitive developments such as joint ventures, mergers & acquisitions, new product launches/developments, collaborations, and Research & Development (R&D) activities carried out in the underwater lighting market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for this report:
- Country-wise breakdown of the market in various regions such as the Americas, Europe, Asia Pacific, and RoW
- Further segmentation of the application segments of the underwater lighting market
Growth opportunities and latent adjacency in Underwater Lighting Market