The latest market report published by Constancy Researchers “Global Navigation Lights Market: Growth, Future Prospects, COVID-19 Impact Analysis, Drivers, Restraints, Trends, Opportunities, Investment Landscape, and Competitive Analysis, 2017 – 2028”
Global Navigation Lights Market: Overview
The global navigation lights market was valued at US$ XX Million in 2020 and is estimated to grow at a CAGR of 5.9% during the forecast period. The global navigation lights market is anticipated to witness substantial growth in the years to come due to the growing government regulations along with the rising passenger traffic across the globe. As per a recent report published in 2019, by World Air Transport Statistics, in 2018, that there is around 7 percent increase in international passenger traffic and 6.8% increase in domestic passenger travel as compared to 2017. Moreover, the emergence of new technologies coupled with increased government regulations are some of the key opportunities for the global navigation lights market over the upcoming years. Besides, the high cost of LED lights is one of key factors estimated to hamper the global navigation lights market growth in the years to come.
Global Navigation Lights Market: COVID-19 Impact
The impact of COVID-19 has been considered in the global navigation lights market report published by Constancy Researchers Private Limited. According to Constancy Researchers Private Limited COVID-19 analysis on the global navigation lights market, the demand for navigation lights has decreased due to haltin the manufacturing industry worldwide along with the decreased traveling during the COVID-19 period.
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Global Navigation Lights Market: Report Highlights
- Based on the type, the LED lighting category is estimated to witness the fastest growth during the forecast period in the navigation lights market. This is ascribed to the benefits of LED lighting including low power consumption, high aesthetic value, and others.
- On the basis of application, in the navigation lights market, the aviation category had a major share in the global market in 2020 and is estimated to continue its dominance over the forecast period. This is ascribed to the growing air travel across the globe along with the increased domestic air travel in the emerging economies of Asia Pacific.
- Based on the regional analysis, North America dominated the market in 2020 and is projected to grow at the highest rate during the forecast period. This is majorly due to the developed marine and aviation industry coupled with stringent regulations in the region. The U.S. had a major share in the North America navigation lights market and is estimated to continue its dominance over the forecast period.
- Mergers & acquisitions, new product launches, strategic partnerships, and collaborations among key players are estimated to be the key strategies in the global navigation lights market.
- As per the research by Constancy Researchers Private Limited, the global navigation lights market is highly fragmented in nature owing to the presence of a large number of players at the global, regional, and country-level.
List of Key Players of Global Navigation Lights Market
- Glamox AS
- Aveo Engineering Group, s.r.o.
- Hella Marine
- Perko Inc.
- Vega Global
- Lutron Electronics Co., Inc
- Canepa & Campi
- Den Haan Rotterdam
- FAMOR S.A.
- TRANBERG
- Others
Global Navigation Lights Market: Segmentation
Constancy Researchers Private Limited has segmented the global navigation lights market on the basis of type, distribution channel, product type, product sales, application, and regional analysis-
Global Navigation Lights Market: By Type
- Anti-collision Lighting
- Side Lighting
- Taxi Lighting
- Strobocope Lamp
- Floor Lighting
Global Navigation Lights Market: By Distribution Channel
- Offline
- Online
Global Navigation Lights Market: By Product Type
- Halogen
- LED
- Xenon
Global Navigation Lights Market: By Product Sales
- Original Equipment Manufacturer (OEMs)
- Aftermarket
Global Navigation Lights Market: By Application
- Aviation
- Marine
- Others
Global Navigation Lights Market: By Regional Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America (LATAM)
- Brazil
- Mexico
- Rest of Latin America (LATAM)
- Middle East & Africa (MEA)
- United Arab Emirates (UAE)
- Saudi Arabia
- Rest of Middle East & Africa (MEA)
