The underwater lighting market is projected to grow from USD 279 million in 2019 to USD 348 million by 2024, at a CAGR of 4.5% from 2019 to 2024. Rising underwater activities such as amusement sports, night fishing, excavation of underwater artifacts, and defense search & rescue operations are contributing to the demand for underwater lighting across the globe. Underwater lighting has also made its way into commercial and residential architectures. The increasing number of luxurious complexes in residential and commercial spaces has resulted in increased demand for these lights. Moreover, these trends are expected to continue over the next few years, thus, driving the growth of the market across the globe.
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Hayward Industries, Inc. (Hayward Industries, US), Acuity Brands, Inc. (Acuity Brands, US), Shadow Caster, Inc. (Shadow Caster, US), Signify Holding (Signify, Netherlands), OceanLED Marine Ltd. (OceanLED, UK), Lumishore (Lumishore, UK), Attwood Corporation (Attwood, US), Aqualuma LED Lighting (Aqualuma, Australia), T-H Marine Supplies, Inc. (T-H Marine, US), and Eaton Corporation plc (Eaton, Ireland) are a few major players operating in the underwater lighting market.
Top 2 Players in the Underwater Lighting Market:
Hayward Industries, Inc. (US)
Hayward Industries, Inc. manufactures residential and commercial pool equipment and industrial flow control products. The company offers a line of energy-efficient pool and spa equipment, including pumps, filters, heaters, cleaners, salt chlorinators, automation, lighting, and safety and flow control products. It has a diversified product portfolio in the underwater lighting market with multiple color options for fixtures. The company also offers underwater lighting accessories. It has established itself as a provider of complete underwater lighting systems.
Acuity Brands, Inc. (US)
Acuity Brands, Inc. is one of the prominent players in the underwater lighting market. The company has identified the demand for energy-efficient lighting technologies in the market and is making efforts to meet this demand. It continuously upgrades and enhances its product portfolio. Acuity Brands offers diversified underwater lighting offerings at multiple price points for use in a variety of applications. This is expected to enable the company to increase its reach and maintain its dominance in the underwater lighting market.
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