Emergency Lighting Market: Industry Analysis, Opportunity Assessment and Forecast up to 2030

The global Emergency Lighting Market is expected to be valued around US$ 1.2 Bn in 2030. As the outbreak of coronavirus continues, there has been a downfall in production activity, impacting several related industries such as automotive, oil & gas, construction, and others, which has weakened demand for emergency warning lights. However, the market is expected to experience better growth during the recovery period, owing to the implementation of stringent regulations, thereby forcing businesses and public authorities to pay strict attention towards the installation of emergency warning lights.

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The use of emergency warnings lights is restricted by law in many jurisdictions, and several norms are required to be followed by public-funded authorities as well as industries. For instance in Texas, lighting standards for highway maintenance or construction vehicles and service vehicles require to follow guidelines by the Texas Department of Transportation (TxDOT). This, in turn, is foreseen to unlock more growth avenues for the Emergency Lighting Market in the future.

Key Takeaways from Emergency Lighting Market Study

The global Emergency Lighting Market is projected to create an absolute $ opportunity of around US$ 370 Mn, and anticipated to expand at a value CAGR of nearly 4% through 2030.

By product, LEDs are set to hold a share-wide market dominance with over 90% of the total market value by the end of the forecast period of 2020-2030.
By end user, emergency warning lights used by government authorities are projected to increase at a value CAGR of 4%, and are expected to be valued 1.6X more than the institutional segment by the end of 2020.

North America is projected to hold maximum share in the global Emergency Lighting Market, and the market is expected to grow 3.2X more than South Asia & Oceania over the next ten years.
By sales channel, the direct-to-customer segment is projected to surpass a market valuation of US$ 785 Mn by the end of 2030.

“The unprecedented impact of COVID-19 will have short-term implications on the Emergency Lighting Market. Expansion of the market will rely on growth in industrial and construction, which will enable manufacturers to meet various needs and demand. Further, focus on public safety and law enforcement is anticipated to boost the prospects of the Emergency Lighting Market over the coming years,” says a Fact.MR analyst.

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Product Launches to Enhance Market Resiliency

Prominent players in the Emergency Lighting Market are Federal Signal Corporation, ECCO Safety Group, SoundOff Signal, Whelen Engineering Company, Inc., Tomar Electronics, Senken Group, Standby Group, Grote Industries, Roadtech Manufacturing, and Truck-Lite Co., among others. On the manufacturers and suppliers front, the market continues to remain highly fragmented, with many organized players accounting for a sizeable revenue share. The competition space of the Emergency Lighting Market has been dominated by multiple product launches. For instance,

In 2020, Federal Signal Corporation introduced its 21 inch Allegiant Mini-Light bar MU810. The newly launched product is built for work zone safety, which has a dual color and bed light option for superior visibility.

In 2020, Code 3, a brand of ECCO Safety Group introduced its Outliner Series of warning lights. The newly launched product is available in 24, 36, 60, and 72 inch lengths, and enables in enhancing the driver’s visibility with these SAE rates warning lights.

In 2020, SoundOff Signal introduced its new range of nFUSE lightbar for the fire market. The newly launched product will be available in single and dual-stack forms and lengths to fit a small truck to a full-size apparatus.

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Find More Valuable Insights on Emergency Lighting Market

Fact.MR, in its new offering, brings to fore an unbiased analysis of the global Emergency Lighting Market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges compelling insights on the Emergency Lighting Market based on product (incandescent, halogen, and LEDs), end user (institutional [industrial {thermal power plants, oil & gas and others}, construction], individual/residential, and government authorities), and sales channel (direct-to-customer, third-party online channels, specialty stores, and modern trade channels), across six regions.

About Industrial Goods Domain of FactMR@ https://www.factmr.com/category/7/industrial-goods

The Industrial Goods team at FactMR provides expert opinions and incisive inputs about broad array of products used extensively in the manufacturing industry Innovation is creating a heap of growth opportunities for businesses in the industrial goods sector. Changing global demands often translate into business complexities, but also make room for the entry and establishment of new markets. While product customization remains at the forefront in terms of B2B consumer demand, industrial goods manufacturers are focusing more on creating innovative supply chains and swifter product cycles.

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This release was published on openPR.