The rapid pace of urbanization is reflecting greatly on the demand for underwater lightings. The rising construction of new buildings with urban settings and modern aesthetics has fuelled the demand for underwater lighting significantly. With an increase in the opening of new shopping complexes, convention centers, and other types of commercial spaces, the global underwater lighting market is expected to witness a continued surge in its valuation over the next few years.
Research analysts at TMR research are answering some of the key queries about the global underwater lighting market.
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Q. What are the key driving factors influencing growth in the global underwater lighting market?
The increasing demand for swimming pool in urban residential setups is one of the most important factors that has been boosting the demand for underwater lightings across the world. Apart from this, the significant rise in commercial fishing operations on an annual basis is also reflecting positively on the worldwide underwater lighting market.
As of now, the market is transitioning from halogen to LED. Many companies operating in this market are investing heavily to increase research and development activities, which is projected to gain substantial impetus for this market in the years to come.
Q. How are regional underwater lighting faring in the market?
Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa are the main regional markets for underwater lighting. With technological superiority, North America has been leading the global underwater lighting market. Europe is also reporting a decent rise in its underwater lighting market. However, it is Asia Pacific, which is anticipated to register the most promising growth over the forthcoming years, thanks to the increasing shift of leading players in developing countries in Asia.
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OceanLED, T-H Marine, and On Board Marine Group are some of the prominent underwater lighting manufacturers across the world.