Global Emergency Lighting Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Emergency Lighting Market 2021 (Includes Business Impact of COVID-19)
Global Emergency Lighting Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027 report has been recently generated by Trusted Business Insights, and offers in-depth insights, revenue details, and other vital information regarding the global emergency lighting market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global emergency lighting market report has been segmented on the basis of components, power system, battery, light source, end-use, and region.
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The global Emergency Lighting market size was valued at USD $5.53 billion in 2020 and is projected to reach $11.03Billion by 2030, and is anticipated to expand at a CAGR of 7.12% over the forecast period from 2020 to 2030.

This report is based on synthesis, analysis, and interpretation of information gathered from various sources regarding the target market. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts, with the primary objective being to provide a holistic view of the target market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as current impact, in order to make informed forecasts about the scenarios in the near and distant future.

Introduction:

An emergency light is a battery-backed lighting gadget that switches on automatically when a building encounters a power blackout. Emergency lights are found in new commercial and residential buildings such as apartments, college dormitories, and hotels. Most construction regulations necessitate that they are introduced in old construction buildings as well.

Dynamics:

The global emergency lighting market is expected to register significant growth over the forecast period, owing to increasing construction projects globally. In addition, rapid urbanization, combined with rising disposable income of the middle-class population is also expected to drive growth of the global emergency lighting market over the forecast period. Increasing technological advancements, coupled with increasing product innovation is also expected to drive growth of the global market. Furthermore, the emergency lighting system proves to be very effective in case of an emergency such as a fire in the building and it has become an essential part of modern infrastructure. Such factors are expected to augment growth of the global market.

However, the high capital cost and maintenance cost are some of the main restraining factors and is expected to affect growth of the global emergency lighting market over the estimated time period.

Increasing concern for safety and increasing adoption of safety standards in commercial as well as residential buildings is expected to increase growth opportunities for the players present in the global market. In addition, the introduction of smart lighting in the emergency lighting industry has paved way for the market to flourish in the coming years.

Recent trends in the global emergency lighting industry have been increasing adoption of LEDs emergency lighting. LED lightings are cost effective, long lasting, and efficient and are resistant to vibrations and shock. In addition, increasing adoption of emergency lighting in the aviation sector is also expected to augment growth of the global market.

Analysis by Region:

The market in North America accounts for a major share in terms of revenue in the global emergency lighting market, owing to the increasing demand for emergency lighting from the residential, commercial and industrial sector. In addition, the North America market is expected to dominate the global market over the forecast period. The market in the Asia Pacific is projected to grow at highest CAGR over the forecast period, owing to increasing construction projects in the developing economies. In addition, the high adoption rate of emergency lighting in the region is also expected to drive growth of the regional market over the forecast period.

Global Emergency Lighting Market Segmentation:

Segmentation by Components:

  
Hardware
  
Software
  
Services

Segmentation by Power System:

  
Self-Contained
  
Central
  
Hybrid

Segmentation by Battery:

  
Ni“Cd
  
Ni“MH
  
LiFePO4
  
Lead“Acid

Segmentation by Light Source:

  
Fluorescent
  
LED
  
Incandescent
  
Induction
  
Others

Segmentation by End-use:

  
Residential
  
Commercial
  
Industrial
  
Others


Key Market Players included in the report:


  
Acuity Brands (US)
  
Acuity Brands Lighting, Inc.
  
Bajaj Electricals Ltd.
  
Beghelli S.p.A. (Italy)
  
Cooper Industries Inc. (Eaton Corporation Inc.)
  
Cree Lighting
  
Daisalux (Spain)
  
Digital Lumens (US)
  
EATON CORPORATION
  
Emerson Electric Co.
  
EVERLIGHT
  
Fulham Co., Inc.
  
GENERAL ELECTRIC COMPANY
  
HinkleyInc.
  
Hubbell Lighting Inc. (US)
  
IKIO LED LIGHTING
  
Koninklijke Philips N.V.
  
Legero Lighting India Pvt Ltd.
  
Luminous India
  
Orient Electric
  
OSRAM Opto Semiconductors GmbH
  
Panasonic Corporation
  
Philips Lighting Holding B.V. (Netherlands)
  
Schneider Electric SE (France)
  
Signify Holding
  
Zumtobel Group (Austria)


Below are the key development related to Emergency Lighting Market in 2020 and 2021.


January 2021: Clarience Technologies Acquires ECCO Safety Group (ESG). Adding World Class Safety and Emergency Lighting Solutions to the Clarience Technologies Family of Brands. Clarience Technologies announced that it has acquired ECCO Safety Group (ESG), a worldwide leader in audible warning equipment and emergency lighting for commercial and emergency vehicles and home to brands like ECCO and Code 3. Source