The Emergency Lighting Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Emergency Lighting Global Market Report 2024, The emergency lighting market size has grown strongly in recent years. It will grow from $6.34 billion in 2023 to $6.85 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to safety regulations, urbanization and infrastructure growth, power outages, fire safety codes, resilience and disaster preparedness.
The emergency lighting market size is expected to see strong growth in the next few years. It will grow to $9.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to green building practices, iot integration, smart building solutions, resilience and disaster preparedness, adaptive lighting. Major trends in the forecast period include technological advancements, battery technology advancements, led technology adoption, centralized monitoring and control, sustainability and energy efficiency.
The growth in the construction sector is expected to propel the growth of the emergency lighting market going forward. Emergency lighting is required on construction sites to ensure the safety of the construction workers because, construction sites often have construction materials, electrical switchboards, portable equipment, and other obstructions in the way of evacuation routes that obstruct quick evacuation during an emergency. For instance, according to the Indian Ministry of Statistics and Programme Implementation, in 2022, the construction sector is expected to grow in double digits at 10.7%. Therefore, growth in the construction sector is driving the growth of the emergency lighting market.
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The emergency lighting market covered in this report is segmented –
1) Emergency Lighting Market By Power System: Self-Contained, Central, Hybrid
2) Emergency Lighting Market By Offering: Hardware, Software, Services
3) Emergency Lighting Market By Battery: Ni–Cd, Ni–MH, LiFePO4, Lead–Acid
4) Emergency Lighting Market By End-User: Residential, Commercial, Industrial, Other End-Users
Top Major Players
Syska LED Lights Private Limited
Major companies operating in the emergency lighting market are focused on introducing next-generation solutions to gain a competitive edge in the market. Next-generation solutions for emergency lighting are being developed to improve the effectiveness and efficiency of emergency lighting systems. For instance, in March 2023, Hochiki, a Japan-based manufacturer of fire detection and emergency lighting products, launched FIREscape Nepto, the next generation of emergency lighting systems. Like its predecessor, FIREscape Nepto complies with BS 5266 and is built on an addressable emergency lighting control panel with addressable, standalone LED luminaires and exit signs that operate at an exceptionally low operating voltage. The new system is also backwards compatible with the current panels and gadgets from the earlier FIREscape series, ensuring project continuity. In contrast to centralized battery or mains-powered systems, FIREscape Nepto can continuously self-test and monitor itself, making installation and maintenance of the new system quick, simple, and less expensive.
The emergency lighting market report table of contents includes:
1. Executive Summary
2. Emergency Lighting Market Characteristics
3. Emergency Lighting Market Trends And Strategies
4. Emergency Lighting Market – Macro Economic Scenario
5. Global Emergency Lighting Market Size and Growth
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31. Global Emergency Lighting Market Competitive Benchmarking
32. Global Emergency Lighting Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Emergency Lighting Market
34. Emergency Lighting Market Future Outlook and Potential Analysis
35. Appendix
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