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Valued at $5.2billion in 2019, the global emergency lighting market size is projected to witness a CAGR of 6.5% during the forecast period (2020–2030). The declining prices of LEDs, rising number of infrastructure development projects,and technological advancements in the lighting field are the key growth factors driving the emergency lighting industry.
The COVID-19 pandemic has severely impacted the emergency lighting market and become a major restraint in its growth, due to the various lockdown measures implemented by governments across the globe. This is attributed to the huge disruption in new infrastructure development projects, such as delay and postponement ofongoing construction projects, decrease in the funding for public projects, and supply chain disturbance all around the world.
During the forecast period, the central category will register the fastest growth in the emergency lighting industry, based on power system. This is because of a longer life, easier maintenance, and easy monitoring of each luminaire and lighting circuit throughthe central power system, as compared to the self-contained power system, thereby leading to its widespread deployment by medium and large enterprises. Additionally, central power systems have emerged as a better alternative to self-contained emergency lighting systems, because of their central control and testing capability and viable costing that have contributed to the demand for emergency lighting fixtures with central power systems.
The Li-ion category, based on battery type, is predicted to register the fastest growth, along with maintaining the largest emergency lighting market share, during the forecast period. The growth is owed to their lowself-discharge rate and low maintenance requirement. Li-ion batteries can be recharged quickly and are considerably lighter than other types of rechargeable batteries, such as lead–acid and lithium–cadmium batteries.The increasing government initiatives toward the adoption of Li-ion batteries, particularly in the Asia-Pacific (APAC) region, are expected to further boost the demand for Li-ion-battery-powered emergency lighting fixtures during the forecast period.
The LED light source category is expected to grow at the fastest pace during the forecast period in the emergency lighting market and maintain its dominance. This can be ascribed to the reduction in the prices of LED lighting systems and rising consumer demand for energy-efficient lighting, thereby leading to the higher penetration of LEDs. Features such aslow carbon emission and energy consumption make them an ideal choice for the residential and commercial sectors. Additionally, the stringent government regulations for energyefficiency and initiatives for the adoption of LED lighting across the globe areother factors driving this category.
During the forecast period, the software category is expected to grow at the fastest pace in the emergency lighting market, based on offering over the forecast period. This is attributed to the increasing demand for emergency lighting software for effective monitoring and controlling of emergency lights. Additionally, companies also use software to analyze the performance of their products, for conducting a battery test.
In the emergency lighting market outlook, the residential category is expected to witness the fastest growth in the application segmentation over the forecast period. Strong and sustained economic progress in emerging markets, coupled with the growing population and rapid urbanization, especially in the APAC region, is leading to a massive rise in the development of residential buildings. This has spurred the demand for emergency lighting in the residential sector.
During the historical period (2014–2019), North America held the largest emergency lighting market share, which is attributed to the increasing construction of commercial and residential buildings in the U.S., rising focus of the U.S. government on energy-efficient lighting, and strict safety norms mandating theinstallation of emergency lights in buildings, in the country.
APAC is predicted to be the fastest-growing region throughout the forecast period in the emergency lighting market. It is mainly attributed to the growing smart homes market in the region and increasing government initiatives in India, South Korea, and Thailand toward the development of smart cities. The increasing energy costs and growing consumer awareness toward carbon emissions and pollution are encouraging both governments and households to shift from traditional buildings to smart homes.
The prominent trend in the emergency lighting market is the increasing adoption of such lighting systems in the aviation sector,due to the entry of budget airlines and expanding tourism industry. The aviation sector, growing with a positive year-on-year (Y-o-Y) rate, has boosted the demand for sophisticated and modern utility-based components in aircraft,which, in turn, is propelling the demand for emergency lighting systems in aircraft. Due to the growing awareness about lighting solutions among aviation companies and strict regulation toward installation of emergency exit lighting, for enabling passengers to easily identify the escape path in emergency situations, the adoption of such lighting system in aviation sector is trending in the market.
LED prices are witnessing a huge decline and hence leading to a rise in their demand in various application areas, such as industrial, residential, and commercial. The rising demand for LEDs and their high energy efficiency have impelled lighting product manufacturers to broaden their LED emergency light portfolio. According to the U.S. Department of Energy (U.S. DOE), lighting energy consumption in the U.S. is expected to reduce by 15% by 2020 and further by 40% by 2030, with LED adoption, under conservative forecasts. Moreover, the decline in the prices of the components used in these lights is leading to an increased adoption of LED emergency lights across the globe.
The increasing number of construction projects and infrastructure development activities across the globe is driving the market. Governments of both developed and developing nations are focusing toward building world-class infrastructure, to attract investors, and thus have announced various smart city projects. The increasing government initiatives and rising urbanization rate across the globe are leading to the surgein the number of construction projects and boosting the demand for emergency lighting. For instance, in 2015, Government of India announced plans to develop 100 smart cities in the country over the next five years.
|Base Year (2019) Market Size||$5.2Billion|
|Forecast Period (2020-2030) CAGR||6.5%|
|Report Coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, COVID-19 Impact, Company Share Analysis, Companies’ Strategical Developments, Product Benchmarking, Company Profiling|
|Market Size by Segments||By PpowerSystem; by Battery Type; by Light Source; by Offering; by Application;by Region|
|Market Size of Geographies||U.S., Canada, Germany, France, Italy, U.K., Spain, Belgium, Norway,Japan, China, India, South Korea, Brazil, Mexico, Saudi Arabia, South Africa, U.A.E.|
|Secondary Sources and References (Partial List)||American Lighting Association (ALA), Brazilian Lighting Industry Association, China Illuminating Engineering Society (CIES), Electric Lamp and Component Manufacturers Association of India (ELCOMA), Fire Protection Association (FPA), Global Lighting Association (GLA), Illuminating Engineering Society of North America (IESNA), Indian Society of Lighting Engineers (ISLE), Industry Committee for Emergency Lighting (ICEL), Institution of Lighting Professionals, International Association of Lighting Designers (IALD), International Light Association (ILA), Japan Lighting Manufacturers Association (JLMA), LightingEurope, Lighting Association for China|
The emergency lighting market is highly fragmented in nature, with the presence of numerous players, such as Signify N.V., Acuity Brands Inc., Legrand SA, ABB Ltd., Larson Electronics LLC, Eaton Corporation plc, Schneider Electric SE, Syska LED Lights Private Limited, Daisalux S.A.U., Zumtobel Group AG, OSRAM Licht AG, and Hubbell Incorporated.
In recent years, players in the industry have launched several new and advanced products to stay ahead of their competitors. For instance:
The emergency lighting market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Power System
Based on Battery Type
Based on Light Source
Based on Offering
Based on Application