Marine Lighting Market is Estimated to Witness High Growth Owing to Advancements in LED Technology
Marine lighting includes various lights that are installed on vessels for purposes of visibility, safety, and aesthetic appeal. Marine Lighting Market allows passengers and crew members to easily navigate the vessel even in low-light conditions or at night. LED-based marine lighting solutions offer advantages such as energy efficiency, longer lifespan, low heat generation, rugged and waterproof build, easy installation and maintenance, and durability to withstand vibrations and shakes on moving vessels. The growing maritime tourism and commercial shipping industries have propelled the demand for enhanced lighting solutions that improve visibility and safety on ships and boats. The marine lighting market is estimated to be valued at USD 426.33 Mn in 2024 and is expected to reach USD 612.78 Mn by 2031 , growing at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031. Key Takeaways Key players operating in the Marine Lighting are OceanLED,...