Market Analysis
Market Research Future (MRFR) projects the global emergency lighting market to reach approximately USD 7 billion at a CAGR of 6% from 2017 to 2023 (forecast period).
Emergency lighting is described as lighting that turns on automatically when there is no power supply, and all normal illumination fails. Most newly constructed buildings now have emergency lights fitted during construction.
One of the major factors driving market expansion is the falling average selling price of light-emitting diodes. LED has the largest market share in the light source segment, owing to its energy efficiency and extended life cycle. According to the survey, the market for incandescent light sources is shrinking due to their less energy-efficient properties, and they are most commonly utilized in residential buildings. The dynamic characteristics of liFePO4 batteries, such as lightweight, small volume, high-temperature resistance, and long-life duration, are the primary reasons driving market expansion in the battery segment.
Key Players
Notable players in the emergency lighting market are- Philips Lighting Holding B.V. (Netherlands), Schneider Electric SE (France), Hubbell Lighting Inc. (U.S.), Cooper Industries (Ireland), Emerson (US), Legrand S.A. (France), Acuity Brands (U.S.), Beghelli S.p.A. (Italy), Daisalux (Spain), Zumtobel Group (Austria), among others.
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COVID-19 Impact on the Global Emergency Lighting Market
The introduction of a range of regulations by governments worldwide to deal with the COVID-19 outbreak, like a complete shutdown of manufacturing units, has been found to impact the development of the Emergency Light Market.
Market Segmentation
The global emergency lighting industry has been segmented on the basis of components, power system, battery, light source and application.
By components, the global emergency lighting market has been segmented into hardware, software, and services.
By power system, the global emergency lighting market has been segmented into self-contained, central, and hybrid. Self-contained emergency lighting is utilized in small buildings with a low number of lighting points. They can operate in either a maintained or non-maintained mode. Maintained mode is commonly used in places of assembly such as clubs, cinemas, and theatres. Emergency lights are kept on at all times. In crowded areas, the light used in maintained mode is often dimmed to prevent total darkness.
By battery, the global emergency lighting market has been segmented into Ni–Cd, Ni–MH, LiFePO4, and Lead–Acid.
By light source, the global emergency lighting market has been segmented into fluorescent, LED, incandescent, induction, and others.
By application, the global emergency lighting market has been segmented into residential, commercial, industrial, and others.
Regional Analysis
The regional analysis of the global emergency lighting market is being studied for regions such as the Asia Pacific, North America, Europe and the Rest of the World.
The market in North America is being driven by rising demand for emergency lighting in the commercial, residential, and industrial sectors. Throughout the forecast period, the North American region is projected to dominate the emergency lighting market. The Asia Pacific region is expected to grow at the fastest CAGR due to the high adoption of emergency lighting in emerging countries and increased focus on real estate projects, which are driving the market in the region.
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