Emergency Lighting Market and its key opportunities and challenges

The Emergency Lighting Market is expected to be valued at USD 6.68 billion by 2022, growing at a CAGR of 7.83% between 2017 and 2022, as per a report by MarketsandMarkets.

https://www.marketsandmarkets.com/Market-Reports/emergency-lighting-market-3345887.html

How the adoption of better safety standards is an opportunity?
The increasing safety regulations by governments across the world have driven the growth of the global emergency lights market as most new buildings are required to install emergency lights. Stricter fire and safety regulations and the construction of new enterprise buildings give rise to new opportunities for global participants in the emergency lighting market. With the increasing safety regulations by governments worldwide, the market for emergency lights is likely to have a positive outlook over the next few years. Currently, most construction companies follow the rules set up by the local or regional authorities by installing emergency lights at the time of construction. Moreover, in countries such as the US, Occupational Safety and Health Administration (OSHA) and National Fire Protection Association (NFPA) enforce stringent safety regulations regarding means of egress. Also, in the UK, the British Standards Institute delivers guidelines for emergency light manufacturers; BS 5266-1: 2011 specifies the use of emergency lights for residential hotels, nursing homes, hospitals, educational institutions, licensed premises, offices, shops, and multi-story apartments. The stringent regulations set by OSHA and NFPA on installations of emergency lights at exit routes would contribute to this market’s growth. These mandatory government regulations set by various national and regional bodies specify the minimum requirement of the type of emergency lights for manufacturers. These safety regulations further drive the adoption of emergency lights.

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Increasing uncertainties in terms of sudden natural calamities and terrorist attacks worldwide have increased the need for taking necessary precautions before any mishap occurs. Thus, various companies have started investing in emergency lighting as this business is growing at a rapid pace.

Why rapidly rising testing cost poses a challenge?
With the growing number of products and product variations entering the market, the rapidly increasing testing cost has become an important issue for manufacturers. In the early stages, the testing of each product played a critical role in establishing product quality and building buyer confidence in lighting technology. However, it is now becoming a hindrance to product line expansion. To meet the needs of the lighting market, testing costs would have to decrease to enable faster and more efficient lighting product line development.

Combination of emergency lighting with esthetic lighting
One of the latest trends in the market is the inclination toward design-driven emergency lights. Manufacturers and lighting designers are now emphasizing on the esthetic aspect of emergency lights as it plays an important role, especially in places such as hotels, architectural buildings, and houses. End users are concerned about the positions and appearance of emergency lights. Vendors are increasingly introducing esthetically appealing emergency lights without compromising on safety. In March 2017, Eaton Corporation (US) provided a lighting solution to Go Air Trampoline Park in Cardiff that enhanced the esthetic appeal and comfort of the interior while maximizing energy efficiency. Manufacturers also offer customized products for customers and government agencies to develop emergency lights according to their requirements.

Design-related issues that may hamper the esthetic appeal of buildings
The provision of appropriate emergency lighting can present many challenges for architects, electrical consultants, and lighting designers. At the start of any emergency lighting design, the relevant information regarding the premises needs to be obtained either from drawings, a site survey, or the building in charge. If this information is not obtained correctly, it may lead to a poorly designed emergency lighting system. Emergency lighting products are mandated by law and are an essential building requirement, but poorly designed lighting products, are likely to spoil the esthetic appearance.

Mr. Shelly Singh
MarketsandMarkets™ INC.
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Suite 430
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sales@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

This release was published on openPR.