1 Global Aquaculture LED Lighting Market Outlook
The global Aquaculture LED Lighting market is projected to exhibit substantial growth in the coming years, with a CAGR of 6.55% from 2024 to 2033, reaching a total market size of $164.59 million USD in 2024. Aquaculture LED lighting refers to the use of Light Emitting Diodes (LEDs) in various water-based and land-based aquaculture systems. These systems are designed to optimize the growth and welfare of aquatic species such as fish, algae, crustaceans, and mollusks. Unlike traditional lighting sources, LEDs offer a range of benefits including energy efficiency, longer lifespan, and the ability to customize light spectrum, intensity, and photoperiod. These features are crucial for creating optimal environments that enhance growth rates, reduce stress, and improve overall productivity in aquaculture facilities.
Figure Global Aquaculture LED Lighting Market Size and Growth Rate (2024-2033)
2 Aquaculture LED Lighting Market Growth Drivers and Constraints
The growth of the global aquaculture LED lighting market is influenced by several key factors. Driving factors include:
Sustainable Aquaculture Practices: The need for sustainable and efficient aquaculture practices has led to the increased adoption of LED lighting. These lights help in reducing energy consumption while providing optimal light conditions for aquatic species, thereby improving growth rates and overall yield.
Technological Advancements: Innovations in LED technology have made it more affordable and efficient. The ability to customize light spectra and control light intensity has made LED lighting a preferred choice for aquaculture operations.
Government Policies and Support: Governments around the world are promoting sustainable fishing and aquaculture practices. Policies aimed at reducing the environmental impact of aquaculture and encouraging the use of energy-efficient technologies are driving the adoption of LED lighting.
Increased Demand for Aquatic Products: The growing global population and increasing demand for fish and other aquatic products are driving the expansion of the aquaculture industry. This, in turn, is creating a higher demand for advanced lighting solutions to support efficient production.
However, there are also limiting factors that could hinder market growth:
High Initial Costs: While LED lighting offers long-term savings, the initial investment required for purchasing and installing these systems can be high. This may deter some small-scale aquaculture operations from adopting LED lighting.
Availability of Substitutes: Traditional lighting sources such as fluorescent and metal halide lamps are still widely used in some regions. These alternatives may be more affordable in the short term, which could limit the adoption of LED lighting.
Technological Complexity: The installation and maintenance of LED lighting systems require specialized knowledge and skills. The lack of technical expertise in some regions could slow down the adoption of these systems.
Economic Uncertainty: Economic downturns and fluctuations in global markets can impact the aquaculture industry. During such periods, aquaculture businesses may prioritize cost-cutting measures, which could reduce investments in advanced lighting technologies.
3 Aquaculture LED Lighting Market Innovations and M&A Activities
The aquaculture LED lighting market is witnessing significant technological innovations and corporate activities. Technological innovations include:
Smart Lighting Systems: The development of smart LED lighting systems that can be controlled remotely and programmed to adjust light intensity, spectrum, and photoperiod based on the specific needs of different aquatic species. These systems often come with integrated sensors and software applications that allow for precise control and monitoring.
Energy Efficiency: Continuous improvements in LED technology are leading to higher energy efficiency and longer lifespans. This reduces operational costs and makes LED lighting a more attractive option for aquaculture operations.
Customizable Spectra: The ability to customize the light spectrum to match the specific requirements of different species and growth stages is a key innovation. For example, certain wavelengths can promote faster growth, while others can delay sexual maturation, leading to better yield and quality.
Corporate Mergers and Acquisitions are also shaping the market landscape:
Signify’s Acquisition of Intelligent Lighting Controls: In March 2023, Signify, a leading player in the market, acquired Intelligent Lighting Controls, a U.S.-based manufacturer of wired control systems. This acquisition expanded Signify’s connected portfolio and enhanced its capabilities in energy-saving control systems.
AKVA Group’s Equity Stake in Observe Technologies: AKVA Group acquired a 33.7% stake in Observe Technologies, a company specializing in AI-based feeding solutions. This partnership aims to leverage AI technology to improve fish performance and optimize aquaculture operations.
JT Electric’s Acquisition of Sterner UK: JT Electric strengthened its presence in the UK aquaculture market by acquiring Sterner AquaTech UK Limited. This move allowed JT Electric to expand its product offerings and enhance its service capabilities in the region.
These mergers and acquisitions reflect the strategic moves by companies to expand their market share, enhance technological capabilities, and strengthen their position in the global aquaculture LED lighting market.
4 Global Aquaculture LED Lighting Market Analysis by Type
In 2024, the global aquaculture LED lighting market is projected to generate a total revenue of 164.59 million USD. Among the different types of aquaculture LED lighting, the revenue distribution is as follows:
Below 100W: The segment is expected to achieve a revenue of 10.04 million USD, accounting for approximately 6.1% of the total market revenue.
100W-200W: This segment is anticipated to contribute 40.32 million USD to the market, representing about 24.5% of the total revenue.
200W-300W: With a revenue of 65.38 million USD, this segment is projected to hold the largest market share at around 39.7%.
More than 300W: The segment is expected to generate 48.86 million USD in revenue, contributing approximately 29.7% to the total market revenue.
Overall, the 200W-300W segment continues to dominate the market in terms of revenue, reflecting its widespread application and demand in various aquaculture settings.
Table Global Aquaculture LED Lighting Market Size and Share by Type in 2024
Type | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
Below 100W | 10.04 | 6.1% |
100W-200W | 40.32 | 24.5% |
200W-300W | 65.38 | 39.7% |
More than 300W | 48.86 | 29.7% |
5 Global Aquaculture LED Lighting Market Analysis by Application
In 2024, the global aquaculture LED lighting market is expected to generate a total revenue of 164.59 million USD, with the revenue distributed across various applications as follows:
Fish: This application is projected to contribute the highest revenue at 123.23 million USD, accounting for approximately 74.9% of the total market revenue.
Algae: The algae segment is anticipated to generate 25.77 million USD, representing about 15.7% of the total revenue.
Crustaceans: This application is expected to contribute 6.07 million USD, or roughly 3.7% of the total market revenue.
Mollusks: The mollusk segment is projected to achieve 6.95 million USD in revenue, contributing about 4.2% of the total market revenue.
Others: Other applications are expected to generate 2.56 million USD, representing approximately 1.6% of the total market revenue.
Overall, the fish application continues to dominate the global aquaculture LED lighting market in terms of revenue, highlighting its significance in the industry.
Table Global Aquaculture LED Lighting Market Size and Share by Application in 2024
Application | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
Fish | 123.23 | 74.9% |
Algae | 25.77 | 15.7% |
Crustaceans | 6.07 | 3.7% |
Mollusks | 6.95 | 4.2% |
Others | 2.56 | 1.6% |
6 Global Aquaculture LED Lighting Market Analysis by Region
In 2024, the global aquaculture LED lighting market is projected to generate a total revenue of 164.59 million USD, with the revenue distributed across different regions as follows:
Europe: Europe is expected to remain the largest revenue market, contributing 73.89 million USD, which accounts for approximately 44.9% of the total market revenue.
Asia-Pacific: This region is anticipated to generate 28.66 million USD in revenue, representing about 17.4% of the total market revenue.
North America: North America is projected to contribute 46.05 million USD, making up around 28.0% of the total market revenue.
South America: The region is expected to achieve 14.07 million USD in revenue, contributing approximately 8.6% of the total market revenue.
Middle East & Africa: This region is projected to generate 1.92 million USD, accounting for about 1.2% of the total market revenue.
Overall, Europe continues to dominate the global aquaculture LED lighting market in terms of revenue, driven by its strong market presence and high adoption of advanced technologies. Meanwhile, North America and Asia-Pacific also play significant roles in the market, with their combined revenue share exceeding 45%.
Figure Global Aquaculture LED Lighting Market Share by Region in 2024
7 Top 3 Companies of Global Aquaculture LED Lighting Market
7.1 Signify
Company Introduction and Business Overview:
Signify, formerly known as Philips Lighting, is a Dutch multinational lighting corporation established in 2016 following the spin-off of the lighting division from Philips. The company is renowned for manufacturing electric lights, light fixtures, and control systems for various applications, including aquaculture. Signify operates under the Philips brand and is headquartered in the Netherlands. Its global market presence and commitment to innovation have solidified its position as a leader in the aquaculture LED lighting industry.
Products Offered:
Signify offers a comprehensive range of aquaculture LED lighting solutions designed to enhance fish production and welfare. Their products include land-based aquaculture lighting systems equipped with patented fish light spectra. These systems are designed to mimic natural daylight, providing uniform light distribution and reducing stress in aquatic species. Key features of Signify’s products include adjustable light intensity, customizable light spectra, and the ability to simulate sunrise and sunset, which are crucial for optimizing feeding and growth cycles.
Sales Revenue in the Latest Year:
Signify reported a revenue of 61.90 million USD from its aquaculture LED lighting segment. This figure reflects the company’s strong market position and its ability to meet the growing demand for sustainable and efficient lighting solutions in the aquaculture industry. Signify’s continuous investment in research and development, coupled with its focus on expanding its product portfolio, has enabled it to maintain a significant market share.
7.2 AKVA Group
Company Introduction and Business Overview:
AKVA Group, established in 2006, is a leading technology and service provider to the global aquaculture industry. The company was formed through the merger of AKVAsmart, Helgeland Plast, and Wavemaster. Headquartered in Norway, AKVA Group specializes in developing innovative solutions for fish farming, including advanced lighting systems designed to optimize growth and welfare. The company’s global presence and commitment to sustainability have positioned it as a key player in the aquaculture LED lighting market.
Products Offered:
AKVA Group offers a range of underwater LED lights tailored for various aquaculture applications. Their products are designed to provide stable and accurate light distribution, which is essential for reducing fish maturation and improving growth rates. Key features of AKVA Group’s lighting solutions include adjustable light intensity, customizable light spectra, and the ability to program specific light regimes. The company also offers dimmable light concepts that help keep fish in deeper waters, reducing lice pressure and enhancing overall fish health.
Sales Revenue in the Latest Year:
AKVA Group reported a revenue of 22.34 million USD from its aquaculture LED lighting segment. This revenue underscores the company’s strong market position and its ability to deliver high-quality, innovative solutions to the aquaculture industry. AKVA Group’s focus on continuous improvement and its strategic partnerships have enabled it to expand its market reach and maintain a competitive edge.
7.3 IAS Products Ltd.
Company Introduction and Business Overview:
IAS Products Ltd., established in 1988, is a leading provider of aquaculture equipment, including advanced LED lighting solutions. The company is headquartered in Canada and has a global market presence. IAS Products specializes in designing and manufacturing equipment for fish and shrimp farms, with a focus on delivering durable and efficient solutions. Their commitment to innovation and customer satisfaction has positioned them as a key player in the aquaculture LED lighting market.
Products Offered:
IAS Products offers a range of SeeBrite™ LED aquaculture lights designed to meet the specific needs of aquaculture operations. These lights are manufactured using proprietary LED circuit boards and are available in various configurations to address different customer requirements. Key features of IAS Products’ lighting solutions include adjustable brightness, customizable light spectra, and the ability to program specific light regimes. The company also offers modular designs that allow for easy customization and scalability.
Sales Revenue in the Latest Year:
IAS Products Ltd. reported a revenue of 3.93 million USD from its aquaculture LED lighting segment. This revenue highlights the company’s ability to deliver high-quality, innovative solutions to the aquaculture industry. IAS Products’ focus on customer-specific solutions and its commitment to continuous improvement have enabled it to maintain a strong market presence despite the competitive landscape.