The Marine Lighting Market is projected to grow at a CAGR 4.16% rate during the forecast period. The increasing demand for marine lighting is driven by the growth in the usage of LEDs and the stringent regulations for the marine industry with regards to safety lights. Functional lighting is projected to be the largest market in the market. Navigation lights, compartment & utility lights, docking lights, and safety lights are categorized as functional lights.

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Asia Pacific is projected to hold the largest market share, by value, during the forecast period. Factors such as rising global trade and maritime regulations have triggered the demand for commercial ships which has, in turn, has led to increasing demand for marine lighting in the region. China is expected to account for the largest share of this market owing to the high demand of for commercial ships including tankers and bulk cargo ships. With increasing demand, it is expected to remain the largest market in Asia Pacific.

The prominent players in the Global Marine Lighting Market are Signify (Netherlands), Hella (Germany), Koito (Japan), Osram (Germany), West Marine (US), Lumishore (UK), Foresti & Saurdi (Italy).

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