Boat Lights Market Is Forecast To Garner US$ 1.07 Bn By 2032 |Fact.MR Report

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.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.factmr.com/connectus/sample?flag=S&rep_id=4374

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.

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.

𝐒𝐡𝐚𝐫𝐞 𝐘𝐨𝐮𝐫 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬 & 𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬- https://www.factmr.com/connectus/sample?flag=RC&rep_id=4374

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

𝐆𝐞𝐭 𝐀𝐜𝐜𝐞𝐬𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.factmr.com/checkout/4374

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).

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐅𝐚𝐜𝐭.𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡: https://www.globenewswire.com/en/news-release/2022/09/22/2521071/0/en/Aerospace-Filter-Industry-to-Surpass-US-2-964-49-Million-by-2032-Military-Aviation-to-Possess-48-Market-Share-Fact-MR-Report.html

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This release was published on openPR.