Emergency Lighting Market Growth And Opportunity, End User Type, Top Manufacturers and Outlook 2030 | Emergen Research
The global emergency lighting market size reached USD 5.97 Billion in 2021 and is expected to register a revenue CAGR of 6.31% during the forecast period, according to latest analysis by Emergen Research. Increasing number of residential and commercial construction projects and expanding hospitality industry infrastructure are key factors driving market revenue growth.
Emergency lighting is used in various commercial, industrial, and residential buildings and infrastructure, including offices, hospitals, museums, stadiums, academic institutions, and movie theaters among others to provide light in case the primary lighting system or facilities fail or are compromised. Fire exits, walking egresses, and emergency doors are illuminated using these lights to ensure sufficient light and possibility of identifying routes towards safety or exits and to facilitate safe passage during emergencies and during need for evacuation of inhabitants, patients and healthcare staff, and visitors or guests, depending on the location or place.
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The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top-down approach. Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators have been taken into consideration to understand the current trends of the market. The process of data triangulation method to arrive at the final market estimates verifies each data point
COVID-19 Impact on the Global Emergency Lighting Market :
The latest report specializes in analyzing the unprecedented impact of the COVID-19 outbreak on the global Emergency Lighting Market . The pandemic has beleaguered the global economic landscape since its fateful advent. It has led to considerable losses incurred by various businesses operating in this market, adversely affecting the production and demand cycles. The outbreak has resulted in major price volatility, disrupted supply chains, stock market volatility, lower business confidence, and the growing panic among people
Some Key Highlights From the Report :
Light-Emitting Diode (LED) segment is expected to register rapid revenue growth rate during the forecast period. Significant innovations in LEDs have resulted in increasing adoption of light diodes in normal illumination as well as for emergency lights. Low voltage operation, lesser electricity consumption compared to other light technology types, long lifecycle, and ability to operate in varying temperatures are some of the key factors increasing preference for LED-based lighting solutions, including for emergency lights.
Central power system segment accounted for a significantly large revenue share in 2021. Centrally-powered battery systems deliver power through fire-resistant cables and are extensively used in commercial buildings such as hospitals and offices. These can be either maintained or non-maintained, based on where the lights are used. Fire exits and other emergency signs, for instance, have maintained fixtures for continuous illumination.
Emergency lighting market in Europe is expected to register moderate revenue growth rate between 2022 and 2030. Robust presence of major companies in the market and rapid advancements in lighting products in the region are factors supporting market revenue growth. For instance, Hochiki Europe Ltd., which is a fire alarm and life safety solutions providing company based in the U.K., has integrated fire alarm devices with emergency lighting in the FIREscape+ range of products.
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The prominent players participating in this industry include:
Koninklijke Philips N.V., General Electric Company, Panasonic, OSRAM GmbH, Schneider Electric, Citizen Electronics Co., Ltd., Toshiba Corporation, Orient Electric Limited, Energy Focus, Inc., and Nichia Corporation
Emergen Research has segmented global emergency lighting market on the basis of power system, component, lighting type, end-use, and region:
Power System Outlook (Revenue, USD Billion; 2019-2030)
Central Power System
Hybrid Power System
Self-Contained Power System
Component Outlook (Revenue, USD Billion; 2019-2030)
Hardware
Lights and Luminaries
Control Systems
Others
Software
Services
Lighting Type Outlook (Revenue, USD Billion; 2019-2030)
Light-Emitting Diode (LED)
Fluorescent Lighting
Incandescent
Induction
Others
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Residential
Industrial
Commercial
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Global Emergency Lighting Market has been classified into the subsequent geographical segments:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Some of the Major Issues Addressed in the Report:
What are the most popular market segments?
What are the current scenario’s business risks and consequences for market growth and forecasting?
Who are the market’s primary players, and how are they dealing with a variety of issues?
Objectives of the Global Emergency Lighting Market Study:
An extensive study of the product portfolios of the major market players and their regional presence
A closer look at the strategic initiatives undertaken by the leading companies across this industry, including mergers & acquisitions, collaborations, partnerships, and joint ventures
An in-depth study of the evolving market sectors and the growth & penetration status of the global Emergency Lighting Market
COVID-19 Impact Analysis to highlight the major opportunities and challenges
Strategic recommendations to help readers formulate lucrative business strategies
Identification of the emerging players and their tactical approaches to expand market presence
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