The Global Emergency Lighting Market accounted for USD 2.35 billion in 2016 growing at a CAGR of 10.72% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Emergency lighting is the lighting that emergently comes on when the power cuts. It is referred for any emergency situations. At certain cases the loss of electricity may be the result of fire. That may lead to sudden darkness and may cause any possible danger to the occupants, or panic. It has its wide application in residential, commercial, industrial, and others. Technological advancements in the lighting industry may act as a major driver in the growth of emergency lighting market. On the other side, high capital investment may hinder the market.
- The global emergency lighting market is segmented on the basis of power system into self-contained power system, central power system, and hybrid power system.
- On the basis of battery type, the global emergency lighting market is segmented into NI–CD, NI–MH, lifepo4, and lead–acid.
- On the basis of Light Source, the global emergency lighting market is segmented into fluorescent lighting, led, incandescent, and induction. The led segment is further segmented into types of led.
- The type of led segment is also further sub segmented into high-brightness led, and miniature led. The others segment is further sub segmented into hid, cold cathode, and halogen lamp.
- On the basis of application, the global emergency lighting market is segmented into residential, commercial, industrial and others. The commercial segment is further sub segmented into office lighting, retail malls, and hospitality. The others segment is further sub segmented into railways, aircraft, and ships
Some of the Major Players:
Some of the major players of the global emergency lighting market are Philips Lighting Holding B.V., Hubbell Lighting Inc., Cooper Industries, Schneider Electric SE, Emerson, Legrand S.A., Acuity Brands, Beghelli S.p.A., Daisalux, Zumtobel Group, OSRAM Licht AG, Digital Lumens, Fulham Co. Inc., Arrow Emergency Lighting Limited, Arts Energy, and Taurac, and others.
Major Market Drivers & Restraints:
- Technological Advancements in Lighting Industry
- Combination of Emergency Lighting With Esthetic Lighting
- Declining Average Selling Price of LEDs
- Booming Construction Industry Globally
- Lack of Standardization
- High Capital Investment and Operational Cost