Assessment on Boat Lights Industry: Before and After COVID-19 Crisis, Fact.MR Report

CITY, Country, 2021-Feb-26 — /EPR Network/ —

Boat lights are source of illumination in a boat for multiple applications such as navigation, docking, protection, and decoration. However, for the proper functioning of the vessel and to provide an esthetic appearance, the boating industry is primarily dependent on the lighting. Rising sales of boats give a pivotal barometer to boat lights market health. Besides that, soaring demand for personal and commercial vessels coupled with surging travel and tourism industry across the globe is driving the growth for the boat lights market. The prominent players are working to create waterproof lights to withstand harsh environmental conditions around the water bodies. New technology, therefore, increases the demand for the boat light market and is expected to witness healthy growth over the forecast period.

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Over the years, global shipbuilding and boating industry is flourishing. Strong economic growth across prominent regional boat markets, making the global boating industry’s full return of prosperity. Recreational boating continues to contribute large volumes in boat sales, which directly propel the global boat lights market. Boat manufacturing companies are increasingly focused on the introduction of technologically advance boats into their fleet to cater to the rising tech-savvy demands such as ambient lighting controls in large boats. Preference for boat renting and chartering is rising among corporate consumers, which in turn is augmenting the demand for boat lights market in the coming years.

LEDs Holds Two-Fold Revenues in the Technology Segment

The lifetime of the LEDs is more than that of the other lighting systems. LEDs not only uses less space, but also offers a wide range of colors to choose from. In addition, LEDs do not emit radiation, making it preferable for use on boats. Fact.MR estimates that the LEDs have a significant market share in the global boat lights market, and the trend remains the same over the forecast period.

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The global boat lights market can be segmented based on product type, technology, and boat type.

According to the product type, the boat lights market is segmented as:

• Anchor Lights
• Navigation Lights
• Special Purpose Lights

According to the technology, the boat lights market is segmented as:

• LED
• Fluorescent
• Halogen
• Xenon

According to the boat type, the boat lights market is segmented as:

• Fuel Powered Boats
• Sail boats
• Electric boats

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According to the Fact.MR analysis, boat lighting market has come into the limelight in the Asia-pacific countries. It holds a significant share in the market as India and China are assessed to remain one of the most lucrative countries in terms of growth. Also, the European boat industry will play a significant role in the healthy boat lighting market growth. It can be due to the presence of an immense boat fleet in European countries like Germany and the UK. North America is one of the prominent regions in the contribution of revenues in the global boat lights market, as North America boat lights market is foreseen to witness a decent pace over the projected period.

Boat Lights Market: Key Players

The Boat lights market is highly fragmented, the global boat sales volume is become large enough to create substantial profit pools for the key market players. The some of the key players involved in the manufacturing of boat lights are- Lumitec LLC, OSRAM GmbH, Alpenglow Marine Lights, LLC, Hella Marine, Light Corporation Group, Nemalux Inc., Imtra Corp., AZZ Inc., and other key players.

The research report presents a comprehensive assessment of the Boat Lights market and contains deep insights, facts, historical and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to tea infusion market segments such as by product type, by technology, by boat type, & by region.

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