Marine Lighting Market Research Study Growth - CAGR of 7.7% Top Key Players are | DRSA, ENSTO Group, HELLA, Innovative Lighting

The global marine lighting market was valued US$ 1.61 Bn in 2018 and is expected to reach US$ 3.08 Bn by 2027, with a CAGR growth rate of 7.7% in the forecast period from 2019 to 2027. The shipbuilding activities are growing across the globe, especially in the markets such as China and the US, owing to the increasing number of travelers and trade activities. The increasing shipbuilding activities across the globe are expected to influence the growth of marine lighting solutions positively.

The growing seaborne trade activities across the globe owing to the healthy trade relation is another factor fueling the shipbuilding industry, which would result in increasing the demand for marine lighting solutions. Additionally, there are various regulatory standards set by governing bodies such as the American Bureau of Shipping and the Department of Transport and Main Roads Australia regarding the lighting, necessitates the use of various lighting fixtures to meet the required standards. Also, demand for recreational boats such as yacht, superyacht, and luxury private boats is also growing across the globe.

Major Key Players Covered In This Report: DRSA,ENSTO Group,HELLA GmbH & Co. KGaA (Hella Marine),Innovative Lighting,ITC Marine,Lumiron, Inc,Lumitec LLC.,NJZ Lighting Technology Co., Ltd,Phoenix Products LLC,The Carlisle & Finch Co.

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The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the global landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Marine Lighting market. The researcher provides an extensive analysis of the Marine Lighting market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.

The demand for decorative marine lighting solutions is high across the luxury boats segment as the yachts are required to have a highlighted welcoming ambiance and lighting that complements the design of the ship. Therefore, the growing demand for yachts, increasing shipbuilding activities, and stringent lighting standards are the major factors that are expected to fuel the growth of this market.

The report segments the global marine lighting market as follows:

Global Marine Lighting Market – By Type
• Functional
• Decorative

Global Marine Lighting Market – By Technology
• LED
• Halogen
• Fluorescent
• Xenon

Global Marine Lighting Market – By Application
• Navigation Lights
• Dome Lights
• Compartment and Utility
• Safety Lights
• Docking Lights
• Others

Global Marine Lighting Market – By End-User
• Commercial Ship
• Passenger Ship
• Others

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Marine Lighting market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Marine Lighting market segments and regions.

Major Key Points of Marine Lighting Market
• Marine Lighting Market Overview
• Marine Lighting Market Competition
• Marine Lighting Market, Revenue and Price Trend
• Marine Lighting Market Analysis by Application
• Company Profiles and Key Figures in Marine Lighting Market
• Market Dynamics
• Methodology and Data Source

This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Marine Lighting market.
Marine Lighting Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

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