Marine Power Systems and Equipment Market Analysis

The marine power systems market is segmented by product type into internal lighting, navigation lighting, communication, surveillance system, engine control, and others, out of which, the navigation lighting segment is anticipated to hold the largest share in the global marine power systems market. This can be accounted to the high usage of navigation lights as a position or running light to gather information about the position, heading and status of a vessel, spacecraft or aircraft. Additionally, on the basis of application, small recreational boats segment is predicted to observe notable growth during the forecast period owing to the rising use of boats for non-commercial purposes for promoting psychological changes spanning health and wellness, and growing trend of boating among people living in developed countries.

Our in-depth analysis of the global market includes the following segments