Underwater Lighting Market Size, Share, Opportunities, And Trends By Source Type (LED, Halogen, Metal Halide Lamps), By Mounting Type (Surface Mounted, Flush Mounted), By Application (Boating/Yacht Lighting, Fountains, Swimming Pools, Others), And By Geography - Forecasts From 2023 To 2028

Underwater lighting refers to lights that are used to illuminate water bodies such as swimming pools, fountains, aquariums, jacuzzis, etc. There are multiple reasons for the need for underwater lighting such as for safety purposes and also to improve the ambiance and aesthetics, to make it more attractive for swimmers and by-passers. The underwater lighting market can be classified by source type, by mounting type, by application, and by geographic regions. By source type, underwater lighting can be segmented into LEDs, Halogens, and Metal Halide Lamps. The major drivers for the growth of this market include increased demands for swimming pools and other smaller artificial water bodies and improved lifestyles.

The surge in demand for swimming pools and other artificial water bodies is positively impacting the market growth.

The demand for underwater lighting is directly influenced by the demand for swimming pools, jacuzzis, and other similar artificially constructed water bodies. With increasing urbanization in developing countries, and rises in disposable incomes of people as well as their standards of living, the demand for swimming pools is increasing in water resorts, clubs, and residential apartments and complexes. Further, the gradual increase in global temperatures is also influencing the increase in demand for swimming pools for recreation and relief. Improved lifestyles of consumers have also increased demand for underwater sports and activities such as scuba diving, which also require underwater lighting. Thus, these factors are cumulatively adding to the demand for underwater lighting to be used in an increasing number of water bodies being constructed globally. Key businesses in this market have seen positive effects in their financials recently as a result of such efforts. For instance, according to their yearly reports, the lighting and lighting controls segment of Acuity Brands had an increase in revenue of over 16% from 2021 to 2022 and produced total revenues of roughly US$3.8 billion in 2022.

High costs of LED installation are expected to restrain the industry's expansion.

A significant challenge faced by this industry relates to the high costs of installation of LEDs. LED lights are used for underwater lighting because of their effectiveness and their energy-efficiency in the long term. However, these lights involve a significant installation cost which acts as a deterrent to their increased adoption. Additionally, the maintenance of these LED lights also involves significant costs. There is also a requirement for technical knowledge for its installation and operation that can sometimes act as another negative factor for the growth of this industry.

The North American region is expected to account for a significant market share in the underwater lighting industry.

North America is expected to constitute a significant market share and similar trends are expected to be followed in the forecast period. This market share is owed to the usage of underwater lighting in caverns and governmental assistance in underwater activities. Additionally, a big tourism industry increases the demand for swimming pools and other artificial waterbodies, which, in turn, facilitates the growth in demand for underwater lighting. The European market is also expected to experience steady growth in this industry due to similar reasons, as well as the increase in access to and demand for new watersports and underwater activities due to the increased purchasing power of a younger demographic that prioritizes recreational activities. There is also a market for yachts and boats in the European regions which further drives the demand for underwater lights, as these products are used in yachts and other types of boats for night fishing and also for decoration purposes. The Asia-Pacific region is also anticipated to experience increasing growth in this industry due to a rising tourism and hospitality industry which facilitates the construction of water activity parks, fountains, aquariums, etc.

Key Developments.

• In September 2022, OceanTools launched an AC lamp to their line of subsea lighting products. This product can be used on underwater vehicles for illumination and offers features such as analog control, and temperature-based color controls.
• In August 2021, Hella Marine announced the launch of Apelo Underwater Lighting in the entertainment lighting segment. The product offers complete color customization controls, for entertainment purposes such as to create a better atmosphere or ambiance. These lights provide more illumination while using lesser energy.
• In November 2021, OceanLED announced the launch of Explore E2 underwater LED lights, their first XFM light with multiple beam options. The product is compact-sized for tight installations.
• BY SOURCE TYPE
  • LED
  • Halogen
  • Metal Halide Lamps
• BY MOUNTING TYPE
  • Surface Mounted
  • Flush Mounted
• BY APPLICATION
  • Boating/Yacht Lighting
  • Fountains
  • Swimming Pools
  • Others
• BY GEOGRAPHY
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East And Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Taiwan
    • Others