Global Underwater Lighting Market to 2024 - Growing Adoption of LED Lights
DUBLIN, Nov. 14, 2019 /PRNewswire/ -- The "Underwater Lighting Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Underwater Lighting market is expected to record a CAGR of 3.7% over the forecast period 2019-2024.
The underwater lighting is used for the decoration purpose in the pools or recreational ponds. The underwater lights are also installed for aesthetic water-featured landscaping.
Underwater lights are installed in swimming pools of residential apartments, sports facilities, hotels, and spas. Keeping the pools illuminated makes them attractive and safe for use. The lights are also installed in pools to create a pleasant atmosphere, thus, making it suitable to use pools round-the-clock. These lights create a specific light effect during the night that makes the surroundings more beautiful.
LEDs are increasingly gaining traction for underwater lighting, and they are taking over as the industry standard. As compared to other lighting sources, LEDs are inherently efficient with a long expected lifetime. For instance, Edmonds Pool and Community Centre in Canada is taking advantage of LED technology like other facilities. LED fixtures are used in the aquatic area in overhead lane lighting to guide swimmers and color-changing installations inside the pool tanks.
In line with the growing adoption of LED lights in the underwater lighting market, companies such as Jandy, in 2018, launched Jandy Pro Series WaterColors Nicheless LED lights. These LEDs to allow pool owners to set the mood with nine vibrant colors and five color-changing light shows.
Scope of the Report
Underwater lighting refers to submersible lights to illuminate areas with poor visibility under the water. These lights can be used for decorative purposes such as illuminating water features that include ponds and swimming pools. Bumps on the walls of the pool or accidental collisions with other swimmers can be avoided with this lighting.
Key Market Trends
LED is Expected to Hold a Significant Share
- LEDs have evolved as a major lighting technology as they are environmentally more beneficial as compared to halogen lights in terms of power consumption, durability, and longevity. LEDs are also safe as they do not get heated and can easily be switched on/off without waiting for them to cool down. They ensure energy-saving and require less maintenance.
- When compared to the electricity required to run a pool's pumps, lighting consumes a very small amount of energy, but, it cannot be neglected. With the push toward LEED and the growing trend towards green technology, people are turning towards LED-style lighting. The LED has revolutionized swimming pool lighting. The LED can produce the same amount of light as a 100-watt halogen bulb while using only six watts of power. This is because LEDs convert all the energy it uses into light rather than some of it being converted into heat.
Asia-Pacific is Expected to Experience a Rapid Growth
- The growing number of swimming pool construction projects in the region due to its thriving tourism industry and the development of luxurious residential complexes endowed with modern amenities, most often with large pools is expected to propel the demand for the underwater lighting market.
- The tourism sector is also impacting the growth of the construction sector in the region. The region is also aware of the fact that the priority for tourists is comfort with better amenities such as pools and spas. For instance, Bali accounts for more than 2,500 hotels with a pool.
- Singapore attracted 18.5 million visitors in 2018, a 6.2% increase from the previous year, according to the Singapore Tourism Board. This increasing number can result in the construction of new hotels, more elegant and luxurious than before. This, in turn, will provide ample opportunities to the underwater lighting market.
Competitive Landscape
The underwater lighting market is competitive and consists of several players. With the LED lighting gaining popularity as a lighting source for underwater lighting, companies are continuously investing in this technology. Companies are also increasing their market presence by expanding their operations, or by entering into strategic mergers and acquisitions.
- July 2019 - S.R. Smith launched a new category of the pool and spa lighting, called as the Mod-Lite. The company's Mod-Lite system provides an update to the LED lighting and maintenance. Mod-Lite combines modular design with wireless power technology to offer better convenience, safety, and savings.
MARKET DYNAMICS
Market Drivers
- Rising Demand for Underwater Lights in Pools for Aesthetic Water-Featured Landscaping
- Government Initiatives to Support Adoption of LEDs
Market Restraints
- High Initial Costs
Companies Mentioned
- Lumitec LLC
- Signify Holding (Koninklijke Philips N.V.)
- Cooper Industries (Eaton Corporation)
- Hydrel (Acuity Brands Inc.)
- Hayward Industries Inc.
- Huaxia Lighting Co. Ltd
- Global Light & Power LLC
- G1 Energy Solutions Private Limited
- Wibre-Elektrogerate Edmund Breuninger GmbH & Co. KG
- Dabmar Lighting Inc.
For more information about this report visit https://www.researchandmarkets.com/r/12m0ox
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