Dublin, Aug. 11, 2023 (GLOBE NEWSWIRE) -- The "Marine Lighting - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The report estimates that the global marine lighting market was valued at US$372.7 million in 2022 and is projected to reach US$575.2 million by 2030, growing at a CAGR of 5.6% during the forecast period of 2022-2030.
The report analyzes various segments of the marine lighting market, with a focus on Functional Lights, which are projected to record a CAGR of 6% and reach US$356.1 million by the end of the analysis period. Growth in the Decorative Lights segment is readjusted to a revised 4.9% CAGR for the next 8-year period, considering the ongoing post-pandemic recovery.
In terms of geographic markets, the marine lighting market in the U.S. is estimated at US$109 million in 2022, while China, the world's second-largest economy, is forecast to reach a projected market size of US$101 million by 2030, growing at a CAGR of 5.2% during 2022-2030. Other noteworthy geographic markets include Japan and Canada, each forecast to grow at 5.4% and 4.2%, respectively, over the 2022-2030 period. Germany is expected to grow at approximately 4.5% CAGR within Europe.
The report provides insights into annual sales in US$ thousand from 2014 to 2030 and the compound annual growth rate (% CAGR) for the same period. It delves into specific types of marine lighting, such as Functional Lights, Decorative Lights, LED, Fluorescent, Halogen, and Xenon, and their sales prospects in different marine vessels like Passenger Ships, Commercial Ships, and Yachts. The data presented offers a comprehensive overview of the marine lighting market, helping stakeholders understand its historical performance and potential growth in the coming years.
The report profiles key competitors in the marine lighting market, including companies such as Ajmera Electrotech, Britmar Marine, Foresti & Saurdi, Hella, Koito, Lumishore, Lumitec, NJZ Lighting Technology, Osram GmbH, Savage Marine, Signify, Taco Marine, Techno Marine Corporation, Ushio Lighting, and West Marine.
Report Highlights:
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 92 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $372.7 Million |
| Forecasted Market Value (USD) by 2030 | $575.2 Million |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
The report provides valuable market insights for businesses and investors interested in the marine lighting market, helping them develop strategies for market-entry, expansion, and investment in this growing industry.
For more information about this report visit https://www.researchandmarkets.com/r/1fqn6l
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