Marine Lighting Market worth $495 million by 2027

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MarketsandMarkets Presents

Marine Lighting Market worth 495 million by 2027
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arine-lighting-market-212556746.html
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The report "Marine Lighting Market by Ship
(Passenger, Commercial, Yachts), Technology (LED,
Fluorescent, Halogen, Xenon), Application
(Navigation, Dome, CU, Reading, Docking, Safety,
Decorative), Type (Functional, Decorative), and
Region - Global Forecast to 2027" The marine
lighting market size is projected to grow from
USD 328 million in 2019 to USD 495 million by
2027, at a CAGR of 5.3 during the forecast
period. The increasing demand for cruise
commercial ships in Asia Pacific and Europe is
the primary driver impacting the marine lighting
market. Maritime safety regulations have also
played a significant role in increasing the
demand for marine lighting. Browse 96 market
data Tables and 41 Figures spread through 133
Pages and in-depth TOC on "Marine Lighting
Market Get The PDF Brochure For This Report
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id212556746
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Commercial ships accounted for the largest share
of the marine lighting market Commercial ships
are the backbone of global trade. There has been
a trend of increasing trade activities due to
numerous factors such as rising manufacturing
output, reduction in shipping costs taxes, and
the emergence of new trading partners. Thus, the
demand for commercial ships goes hand in hand
with the global economy. This has resulted in
commercial ships being the largest users of
marine lighting. General cargo, bulk carriers,
and oil tankers have a significant requirement of
marine lighting among all the commercial ships.
According to industry experts, compartment and
utility lighting is the largest application of
lights in commercial vessels. The rise in trade
and shipbuilding activities is expected to drive
the growth of this segment in the near
future. Fluorescent lights are one of the most
widely used technologies of marine lighting The
luminous efficiency of fluorescent lights is
between 9 and 11 while that of halogen is 3.5.
Fluorescent lamps have an operational life span
ranging between 6,000 and 15,000 hours. Halogen
lamps have an operational life of 3,000 hours. As
marine applications require long-lasting lamps,
fluorescent lamps are used more commonly as
compared to halogen lamps. Among all the lighting
technologies available, fluorescent is the second
most long-lasting lights after LEDs.
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Europe is estimated to be the second-largest
market for marine lighting globally The European
marine industry is well developed in the world.
Russia, Greece, Turkey, and Norway have the
largest registration of commercial ships.
Moreover, Turkey, Norway, and Greece also have a
huge passenger ship registration. The demand for
yachts is also the largest in Europe.
Additionally, the maritime regulations for
lighting are stringent in this region with safety
lights and navigation lights required to follow
all the stipulated guidelines. This makes Europe
a key marine lighting market for major lighting
manufacturers. Hence, Europe is projected to be
the second-largest market for marine lighting
globally. The marine lighting market is
dominated by global players and comprises several
regional players as well. The key players in the
marine lighting market are Signify (Netherlands),
Hella (Germany), Koito (Japan), Osram (Germany),
West Marine (US), Lumishore (UK), Foresti
Saurdi (Italy). Dont miss out on business
opportunities in Marine Lighting Market. Speak to
our analyst and gain crucial industry insights
that will help your business grow.
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• Recent Developments
• In February 2019, Hella Marine Lighting secured a
  contract to fit Haines Hunter SP725 with Navi LED
  Compact port/starboard navigation lamps, Navi LED
  Compact 20 fold-down anchor pole light, Sea
  Hawk-470 LED Floodlight, Euro LED Touch 130
  interior lights, and the Red LED Round Courtesy
  Lamps.
• In September 2018, Hella launched Sea Hawk 470
  LED lamps. They are ideal for illuminating decks
  and walkways beside boats and other close-range
  applications where large amounts of light are
  needed. The ultra-smooth spread has no harsh
  borders or hotspots, therefore reducing eye
  strain and fatigue.
• In October 2018, OSRAM established a new
  manufacturing facility for digital lighting
  components in Plovdiv, Bulgaria, ensuring
  flexible deliveries and shorter response times.
  The manufacturing facility focuses on LED
  drivers, but also manufactures light management
  systems and traditional ECGs.
• Request for Sample Pages _at_ https//www.marketsan
  dmarkets.com/requestsampleNew.asp?id212556746

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