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Illuminating the Future: Global Trends and Projections in Emergency Lighting Market Insights from 2024 to 2033
Emergency Lighting Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Emergency Lighting industry. This report on Emergency Lighting market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The emergency lighting market size has grown strongly in recent years. It will grow from $6.34 billion in 2023 to $6.85 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to safety regulations, urbanization and infrastructure growth, power outages, fire safety codes, resilience and disaster preparedness. The emergency lighting market size is expected to see strong growth in the next few years. It will grow to $9.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
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Key Market Players:
Acuity Brands Inc., Syska LED Lights Private Limited, Eaton Corporation PLC, Hubbell Incorporated, Legrand Group, OSRAM Licht AG, Signify Holding, Schneider Electric SE.
Market Drivers:
According to the Emergency Lighting Market Report 2024 by The Business Research Company, the growing healthcare sector is expected to propel the growth of the emergency lighting market going forward. The healthcare sector encompasses a wide range of organizations and facilities dedicated to providing medical services, healthcare products, and support for the prevention, diagnosis, treatment, and management of illnesses, injuries, and the overall well-being of individuals and communities. Emergency lighting in the healthcare sector serves a crucial role in ensuring the safety and well-being of patients, healthcare providers, and staff during emergency situations. Its primary purpose is to provide illumination when the regular power supply fails, such as during power outages, fires, or other emergencies. For instance, in November 2022, according to a report published by the Canadian Institute for Health Information (CIHI), a Canada-based health company, in 2021, Canada's healthcare expenditure was $328 billion, and it increased to $331 billion in 2022. Therefore, the growing healthcare sector is driving the growth of the emergency lighting market.
More information about the Global Emergency Lighting Market Report -
https://www.thebusinessresearchcompany.com/report/emergency-lighting-global-market-report
Market segments for Emergency Lighting include:
1) By Power System: Self-Contained, Central, Hybrid
2) By Offering: Hardware, Software, Services
3) By Battery: Ni-Cd, Ni-MH, LiFePO4, Lead-Acid
4) By End-User: Residential, Commercial, Industrial, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
Check Out The Emergency Lighting Market Report's Discount Options Here -
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Browse More Reports:
Emergency And Other Relief Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/emergency-and-other-relief-services-global-market-report
Electric Lighting Equipment Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/electric-lighting-equipment-global-market-report
Automotive Lighting Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/automotive-lighting-global-market-report
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