PUBLISHER: Allied Market Research | PRODUCT CODE: 1065689
PUBLISHER: Allied Market Research | PRODUCT CODE: 1065689
The emergency lighting market size was valued at $5.48 Billion in 2020, and is projected to reach $10.73 Billion by 2030, registering a CAGR of 6.9% from 2021 to 2030. An emergency light is a battery-backed lighting device that self-powers and switches on automatically when the main power supply is cut and normal light falls. The death of the main power supply can be due to fire or a power cut and failure of normal lighting supplies. The newly constructed offices and houses among others have installed emergency lights installed in it. It also has residential, commercial, and industrial applications.
Incorporating LEDs in red or green exit signs has been one of the most essential technological advancements in emergency lighting market. Most exit signs in the emergency lighting industry now practice emergency lighting technology as it has enhanced cost-competitive when compared to other traditional illumination sources, is long-lived, and is more energy-efficient. This emergency lighting is also required in public places such as education institutions, healthcare centers, industrial buildings, and other public places so that individuals can be evacuated safely at the time of emergency.
Factors such the growing government initiatives to support the adoption of energy-efficient lighting solutions, the growing number of construction projects across the world, and rise in adoption of energy efficient lighting products are expected to drive growth of the market in the future. However, high capital investment and operational cost acts as major barrier and hampers the emergency lighting market growth. Furthermore, factors such as the constant developments in technologies and the growing demand for software for effectively monitoring and controlling the lights across the globe are expected to offer lucrative opportunities for growth of the emergency lighting market.
The emergency lighting market is analyzed by offering, power system, lighting type, application and region. By Offering, the market is divided into Hardware, Software and Services. By Power System, the market is divided into Self-Contained Power System, Central Power System and Hybrid Power System. By lighting type, the market is divided into fluorescent lighting, LED, incandescent, others (Cathode, Halogen, Induction). By application, it is divided into residential, industrial and commercial. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with its prominent countries.
The key players profiled in the report include Acuity Brands, Syska, Daisalux, Eaton Corporation, Hubbel Lighting Inc, Legrand, Osram Licht Ag, Philips Lighting Holding B.V, Schneider Electric SE and Zumtobel Group. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
Key Benefits for Stakeholders
This study includes the analytical depiction of the emergency lighting market forecast along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information regarding the key drivers, restraints, and opportunities in the emergency lighting market analysis.
The emergency lighting market trends are quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the industry.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
By Offering
By Power System
By Lighting Type
By Application
By Region