Emergency Lighting Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Emergency Lighting Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Emergency Lighting Market

The emergency lighting market size was valued at USD 7.02 billion in 2023, and the market is now projected to grow from USD 7.70 billion in 2024 to USD 15.41 billion by 2032, exhibiting a CAGR of 10.33% during the forecast period of 2024-2032.

COVID-19 multiplied notably over the world in 2020. Almost every us of a mentioned unwell people. From 2020 to 2021, each US noticed varying tiers of the COVID-19 pandemic. Industrial players confronted issue because of lockdowns. The COVID-19 pandemic in 2020 slowed the global emergency lighting fixtures marketplace increase. COVID-19 induced disruptions in business and business sectors, impacting marketplace increase. During the lockout, 89% of LIA contributors mentioned that their businesses remained open, and 95% of income have been recovered.

Emergency lights is an important lighting solution for a huge variety of personal and expert uses. As technology advances, emergency lighting fixtures becomes interwoven with traditional illumination, so adapt to the situation. Emergency lights is powered with the aid of an emergency strength supply and automatically uplifts while the lights circuit loses energy. Integrating it into general lights designs can also advantage both purchasers and producers.

Improved protection rules and smart technology in the lighting zone are probable to open up new opportunities at some point of the forecast period. LEDs are becoming extra famous because of government projects, consisting of the ban on incandescent bulbs, and their strength performance. LEDs are extraordinarily controlled, with their integrity varying depending on call for while included into a driving force.

Comprehensive Analysis of Emergency Lighting Market

The market for emergency lighting is segmented into LED, fluorescent, and incandescent types. LEDs are extensively used because of their electricity savings and occasional-temperature performance, whilst fluorescent lighting fixtures are extra-long lasting and price-effective. Battery sorts encompass lithium nickel cadmium, nickel metallic hydride, and lead-acid. Lithium batteries are acknowledged for their price performance and long life, at the same time as nickel-cadmium batteries are extra immune to temperature extremes and feature a higher power density. The marketplace is also divided into self-contained and central-powered systems. Self-contained systems are price-powerful and clean to install, while important-powered systems are used for huge projects with high numbers of emergency luminaires. The residential phase is anticipated to dominate the marketplace because of growing demand for brand new products. The commercial phase is anticipated to hold the second biggest marketplace proportion, accompanied through the industrial segment. Factors which include the growing quantity of industrial buildings and public infrastructure are influencing the growth price of the economic section.

The North America region lead the emergency lighting market share by benefitting a market size of USD 2.08 billion in 2023 due to North America dominates the emergency lighting industry, which is predicted to increase significantly. This is owing to the presence of numerous major corporations in the region. There are several unregistered market actors in this area. This region's market is more fragmented than others. North America's emergency lighting market growth is driven by urbanization, new technology, energy-efficient goods, and an aging population. North America will lead the market in the future years.

The emergency lighting industry is extremely fragmented, with multiple participants such as Schneider Electric SE (France), Emerson (US), Legrand SA (France), Hubbell Lighting Inc. (US), Panasonic Corporation (Japan), and Holding B.V. (Netherlands), General Electric (U.S.) and Zumtobel Group (Austria), Acuity Brands (U.S.), Orient Electric (India), and Wipro (India), Honeywell HBT (U.S.) and Eaton Corporation (Ireland). Current market competitors have a significant presence in their own countries and regions. Schneider Electric, Honeywell, and Eaton are major global companies. The success of their operating plants will lead to more contracts and market share in the future.

In July 2023, Eveready Industries India Limited released a television advertisement titled 'Kya Baat Hai' to promote its INSTACHARGE emergency LED light.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 10.33% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Light Type

Fluorescent

LED

Incandescent

Others

By Battery Type

Lithium

Nickel Cadmium

Nickel Metal Hydride

Lead–Acid

By Power System

Self-Contained

Central Powered

By End-user

Residential

Commercial

Industrial

By Region

North America (By Light Type, By Battery Type, By Power System, By End-user, and By Country)

- U.S. (By End-user)

- Canada (By End-user)

Europe (By Light Type, By Battery Type, By Power System, By End-user, and By Country)

- U.K.

- Germany

- France

- Italy

- Spain

- Russia

- Rest of Europe

Asia Pacific (By Light Type, By Battery Type, By Power System, By End-user, and By Country)

- China

- India

- Japan

- Australia

- Southeast Asia

- Rest of Asia Pacific

Latin America (By Light Type, By Battery Type, By Power System, By End-user, and By Country)

- Brazil

- Mexico

- Rest of Latin America

Middle East & Africa (By Light Type, By Battery Type, By Power System, By End-user, and By Country)

- GCC

- South Africa

- Rest of Middle East & Africa


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