Underwater Lighting Market Worth $USD 348 Million by 2024

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. Increasing infrastructure spending and rising number of smart city initiatives across the globe are expected to drive the demand for water bodies to boost the aesthetic appeal of structures.

The swimming pools segment is projected to lead the underwater lighting market during the forecast period. Swimming pools are fitted with underwater lights such as LEDs to ensure their safe use during nighttime as well as to enhance their aesthetic appeal. Underwater lighting used in swimming pools is connected to transformers that convert electrical energy to a voltage of 12V. Ongoing urbanization is expected to lead to an improvement in the lifestyle of masses, thereby contributing to an increase in the demand for multiple amenities such as swimming pools within the same infrastructures. This, in turn, is expected to contribute to rise in demand for underwater lighting to be used in swimming pools.