Emergency Lighting Market Trends, Revenue, Key Players, Growth, Share and Forecast Till 2030
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Increasing adoption of emergency lighting on exit signs in commercial and residential buildings is a key factor driving emergency lighting market revenue growth
VANCOUVER, BC, CANADA, November 21, 2022 /EINPresswire.com/ -- 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. A number of countries have regulations in place with regard to installation of emergency lighting systems and periodic maintenance in order to ensure appropriate safety measures.
As part of Emergen Research's Global emergency lighting Market Research Report, key business details and extensive geographical spread of the emergency lighting industry have been analyzed. As well as a comprehensive qualitative and quantitative analysis, the study contains crucial statistics about the emergency lighting market. A detailed forecast is provided until 2027 based on historical data from 2017 and 2018. Also included are profiles of established and emerging players, including business overviews, product portfolios, strategic alliances, and business expansion strategies. The current COVID-19 pandemic is expected to have an effect on the growth of the emergency lighting industry, primarily as a result of movement restrictions and impact on supply and demand due to lockdowns. In the wake of the COVID-19 pandemic, several sectors of the global market have been affected, and emergency lighting will likely be among them. Economic slowdown and dynamic changes in demand will further hinder the growth of the sector. The report covers the impact analysis of the COVID-19 pandemic on the overall emergency lighting industry.
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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. According to British Standards (BS 5266:1 2016), residential house owners are strongly advised to install fire alarms and emergency escape lightings for easy evacuation in case of any event that requires evacuation. Increasing number of residential construction projects and stringent regulations are projected to drive revenue growth of the market in this region between 2022 and 2030.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the emergency lighting market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Major Players/Manufacturers profiled in the report are:
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
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For better understanding, the report further divides the market into key segments such as product types and application spectrum. The report also offers estimates about the segment and sub-segment expected to grow at a rapid pace and the key factors expected to drive revenue growth of the segments during the forecast timeline of 2022-2030.
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
The regional analysis states the global market is bifurcated into North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. The report also covers import export consumption, supply and demand ratio, cost, pricing analysis, gross margin, and revenue estimation of each player in each region. The report also offers a country-wise analysis of the key regions to offer a better understanding of the global market.
Regional Segmentation Covers:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
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)
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Research Report on the emergency lighting Market Addresses the Following Key Questions:
Who are the dominant players of the emergency lighting market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the emergency lighting market?
What are the key growth drivers and restraining factors of the emergency lighting market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the emergency lighting market and its key segments?
Key Reasons to Buy This Report:
The report presents a thorough examination of the Emergency Lighting market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Emergency Lighting Market Size Worth USD 10.34 Billion in 2030
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