Rapidly escalating infrastructure development initiatives all across the globe are scaling up the construction activities offering lucrative opportunities for the emergency light market growth
Increasing energy requirements by commercial, industrial as well as residential sector with a massive rise in electricity and light needs are increasing the pressure on the electrical grids and systems therefore pushing advanced energy systems to aid in times of power failure boosting the demand for emergency light systems encouraging the market to gather a CAGR up to 7% throughout the forecast period from 2018 to 2028. Emergency light is a standalone power backup system independent of the conventionally installed electrical distribution systems. It is rather based on battery-backed lighting device that helps individuals or even large scale operations during power outage situations. High occupancy residential spaces such as buildings, housings, apartments or lodgings along with other facilities such as hotels widely install emergency light system to eliminate the unwanted errors caused by the weakening electrical services.
Existing as well as future progress chart of the global emergency light market is accurately sketched out to indicate the core strengths and market attractiveness. Key growth factors of the emergency light market primarily focus on the foreseeable opportunities throughout the forecast years. Major influential factors such as the increasing technological advancements such as introduction of high-performance LEDs and the subsequent rise in adoption of LED systems owing to their cost-effective and energy-efficient nature is boosting the growth of the global emergency light market during the forecast years. Widespread applications of emergency lights as a result of the rapidly evolving infrastructure development, paced industrialization and urbanization across developing regions is augmenting the growth of the global emergency light market with the increasing burden on conventional electrical systems.
Adroit Market Research study on the global emergency light market provides a comprehensive guide walking through the industry patterns from 2018 to 2028. The report covers crucial qualitative factors including key market drivers, restraining factors, opportunities, challenges and threats. the market has been studied through historic phase from 2018 to 2020 with a standardization year 2020 followed by the predictive study period from 2021 to 2028. The report entails existing industry status coupled with future prospective trends evaluated globally along with a country level analysis. Also, the study incorporates in-depth assessment via Porter’s five forces analysis and offers positioning of the key operators of the global emergency light market based on several parameters driven by the product profile, revenue generation patterns and geographic footprint.
The emergency light market showcases fierce competitive environment amongst the existing, well-known entities and the young entrants. Also, the emergency light industry players are aggressively approaching new opportunities and seizing untapped market spaces with a view of gaining competitive advantage against other industry players through strategic initiatives in the form of mergers, deals, collaborations, acquisition of young players and partnerships with the large market participants ultimately attaining solid business presence.
Based on the Product Type Segment, the market has been sectioned into central test, LED, self test, incandescent, fluorescent and induction. The LED segment is expected to witness substantial growth over the forecast years owing to the predominant adoption of LED technology across industrial as well as commercial spaces and the advantages offered such affordable prices appealing customers for an easy and cost effective alternative. Incorporation of LED technology in public places displaying LED based exit signs are crucial breakthrough driving the segment growth.
Asia Pacific held largest market share of the global emergency light market revenue in the past and is anticipated to register an exponential growth during the forecast years primarily owing to the rapidly escalating population across developing economies such as India and China ultimately accelerating the development of large-scale residential construction projects driving the demand for installation of emergency light systems. increasing infrastructure development of the construction sector with encouraging government support to build affordable housing for all and similar flagship programs are fuelling the growth of the emergency light market in the region.
The major players of the global emergency lights market are Schneider Electric SE, Philips Lighting Holding B.V., Arrow Emergency Lighting Limited, Hubbell Lighting, Legrand S.A., Cooper Industries, OSRAM Licht AG, Taurac, Emerson Electric, Fulham, Zumtobel, Acuity Brands, Arts Energy, Daisalux and Digital Lumens. The emergency light market houses firmly placed local players alongside the global industry players. the identified market participants are ramping up technological advancements introducing a wide range of innovative strategies to stay ahead of the global market competition.
Key Segments of the Global Emergency Light Market
Product Type Overview, 2018-2028 (USD Billion)
- Central Test
- Self Test
Application Overview, 2018-2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa