Boat Lights Market Is Anticipated To Reach a Valuation of US$ 548.5 Million in 2022

As per the latest report by Fact.MR, a market research and competitive intelligence provider, the boat lights market is anticipated to hold a valuation of US$ 548.5 million in 2022 and expand at an impressive CAGR of 6.9% over the forecast period (2022 to 2032).

"Increasing use of signalling systems in the boating industry expanding opportunities for boat lights for navigation purposes," says a Fact.MR analyst.

Boat lights are used to evade collisions at night or when visibility is less, and they are an important part of keeping boats safe. Boat lights allow the visibility of other surrounding boats while also allowing others to have clear vision. Boat lights are required by law and regulations to have a certain hue (red, white, blue, green, yellow,), an arc of illumination, range of visibility, and location aboard any vessel. In all weather cases, vessels must display the correct navigation lights from sunset to sunrise.

Because of the safe and secure nature of marine transportation and increase in cargo transport, demand for boat lights is increasing and this is expected to push sales above US$ 1 billion by the end of 2032.

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Key Takeaways from Market Study

Boat navigation lights likely to reach market share of 27.3% by 2032
By technology, demand for LED boat lights likely to increase at 7.7% CAGR over forecast period.
Use in electric boats expected to grow 2.3X by 2032.

Boat lights of 12V by voltage to provide absolute opportunity of US$ 388.9 million over decade.
Based on region, demand for boat lights expected to increase 8.3% CAGR in East Asia.
Market Developments

The boat lights market is moderately fragmented with a high numbers of players operating in this space, which is leading to the split of market share. Market growth strategies involve new product launches, product innovation, product up-gradation, research & development, geographical expansion, partnerships, collaborations, and many others.

LED boat lights with 12V voltage are in high demand and will accelerate the growth of the global boat lights market.

Market participants are resorting to technological advancements and innovation, as well as focusing on increase sales and profitability through online selling. Prominent market players have developed constructive collaborations with boat manufacturers to enjoy consistency in demand.

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Competitive Landscape

Prominent manufacturers of boat lights are 4C Innovation, Aquasignal, Lumishore, Lumitec, Lopolight, Marine Beam, Marine LED, Navisafe, Ocean LED, and Zhejiang Bozhou Marine Electric Technology.

For instance :

Ocean LED, on 4 April 2022, unveiled its latest innovation - The Discover D3, which is a new lighting series for boaters needing minimum power and having maximum effect
In February 2022, Lumishore, a leading manufacturer of high-performance marine LED lighting systems, expanded its premises in both, the U.K. and the U.S. to meet business growth targets.

Key Segments of Boat Lights Industry Survey

Boat Lights Market by Type :

Anchored Boat Lights
Underwater Boat Lights
Flood and Spreader Boat Lights
Strip and Under Gunnel Boat Lights
Boat Navigation Lights
Special Purpose Lights

Boat Lights Market by Technology :
LED Boat Lights
Fluorescent Boat Lights
Halogen Boat Lights
Xenon Boat Lights

Boat Lights Market by Boat Type :
Fuel-powered Boats
Sailboats
Electric boats

Boat Lights Market by Light Capacity :
12 V Boat Lights
24 V Boat Lights
Others (110, 220)

Boat Lights Market by Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global boat light market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals crucial insights on the segments such as type (anchored boat lights, underwater boat lights, flood and spreader boat lights, strip and under gunnel boat lights, boat navigation lights, special purpose lights), technology (LED, fluorescent, halogen, xenon), boat type (fuel-powered boats, sailboats, electric boats), and light voltage (12V, 24V, others), across major regions of the world (North America, South America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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