Emergency Lighting Market Size to Reach USD 9064.4 Million by 2027 at a CAGR of 7% | Valuates Reports
BANGALORE, India, March 17, 2022 /PRNewswire/ -- The Emergency Lighting Market is Segmented by Type (Self-Contained Power System, Central Power System, Hybrid Power System), by Application (Residential, Commercial, Industry)): Opportunity Analysis and Industry Forecast, 2021–2027. It is published in Valuates Reports under the Lamps & Lighting Category.
The global Emergency Lighting market was valued at USD 5645.3 Million in 2020 and it is expected to reach USD 9064.4 Million by the end of 2027, growing at a CAGR of 7.0% during 2021-2027.
Major factors driving the growth of the emergency lighting market:
Government regulations for industrial emergency lighting, as well as an increase in the number of construction projects around the world, are expected to propel the emerging lighting market forward.
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TRENDS INFLUENCING THE GROWTH OF EMERGENCY LIGHTING MARKET:
The emergency lighting market is growing due to an increase in construction projects and government regulations for industrial emergency lighting in various countries. Most newly constructed buildings now have emergency lighting installed during the construction process. Furthermore, the easy availability of low-cost, attractive lights is expected to have an impact on the emergency lighting market's growth.
The preference for design-driven emergency lights is one of the most recent market trends. Manufacturers and lighting designers are now emphasizing the aesthetic aspect of emergency lights, as it plays an important role, particularly in places like hotels, architectural structures, and homes. The positions and appearance of emergency lights are causing concern among end-users. Vendors are increasingly introducing visually appealing emergency lights that do not jeopardize safety. During the forecast period, this is expected to create lucrative opportunities for Emergency Lighting market players.
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EMERGENCY LIGHTING MARKET SHARE
Based on type, the self-contained power system is expected to be one of the most profitable. Independent of the central battery system, self-contained batteries provide the required emergency lighting from a decentralized source.
Based on application, the Residential segment holds the largest market share. The demand for this segment is being fueled by factors such as the increased construction of residential buildings and apartments in the APAC and the Middle East and Africa (MEA) regions.
China has the most export quantity and manufacturers in the Emergency Lighting market, while Europe is the second-largest sales volume market.
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By Company
- Philips
- Schneider
- MPN
- Acuity Brands
- Ventilux
- Eaton
- ZFE
- Hubbell
- ABB
- Mule
- LINERGY
- Legrand
- Clevertronics
- Emerson
- STAHL
- Notlicht
- Olympia electronics
- Zhongshan AKT
- RZB
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