Press release
Emergency Lighting Market Report 2024: Strategies And Recent Developments
Emergency Lighting Market
The Business Research Company offers in-depth market insights through Emergency Lighting Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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%. The growth in the forecast period can be attributed to green building practices, iot integration, smart building solutions, resilience and disaster preparedness, adaptive lighting. Major trends in the forecast period include technological advancements, battery technology advancements, led technology adoption, centralized monitoring and control, sustainability and energy efficiency.
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Market Segmentation:
The main types of emergency lighting are self-contained, central, and hybrid. Self-contained emergency lighting systems use devices with a built-in power supply, the power supply being a battery or accumulator recharged by exposure to light, and the solar unit being distinct from the lighting unit. The offerings of emergency lighting are hardware, software, and services that contain different battery types such as ni-cd, ni-mh, lifepo4, and lead-acid. The various end-users include residential, commercial, industrial, and other end users.
Major Driver - Construction Sector Growth Boosts The Emergency Lighting Market
The growth in the construction sector is expected to propel the growth of the emergency lighting market going forward. Emergency lighting is required on construction sites to ensure the safety of the construction workers because, construction sites often have construction materials, electrical switchboards, portable equipment, and other obstructions in the way of evacuation routes that obstruct quick evacuation during an emergency. For instance, according to the Indian Ministry of Statistics and Programme Implementation, in 2022, the construction sector is expected to grow in double digits at 10.7%. Therefore, growth in the construction sector is driving the growth of the emergency lighting market.
Competitive Landscape:
Major companies operating in the emergency lighting market include Acuity Brands Inc., Syska LED Lights Private Limited, Eaton Corporation plc, Hubbell Incorporated, Legrand Group, OSRAM Licht AG, Signify Holding, Schneider Electric SE, Zumtobel Group AG, Daisalux S.A.U., Emerson Electric Co., Larson Electronics LLC, ABB Group, Acuity Brands Inc., Beghelli S.p.A., Fagerhult AB, Glamox AS, HADLER GmbH, Herbert Waldmann GmbH & Co. KG, iGuzzini illuminazione S.p.A., LIGMAN Lighting Co. Ltd., Lumenpulse Group Inc., NVC Lighting Technology Corporation, Opple Lighting Co. Ltd., PAK Corporation, R. STAHL AG, Raytec Ltd., Safelincs Ltd., SCHRÉDER Group, SITEM S.p.A., Thorlux Lighting, Trilux GmbH & Co. KG, WISKA Hoppmann GmbH
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Top Trend - Major Players Innovate Next-Generation Solutions In The Emergency Lighting Market
Major companies operating in the emergency lighting market are focused on introducing next-generation solutions to gain a competitive edge in the market. Next-generation solutions for emergency lighting are being developed to improve the effectiveness and efficiency of emergency lighting systems. For instance, in March 2023, Hochiki, a Japan-based manufacturer of fire detection and emergency lighting products, launched FIREscape Nepto, the next generation of emergency lighting systems. Like its predecessor, FIREscape Nepto complies with BS 5266 and is built on an addressable emergency lighting control panel with addressable, standalone LED luminaires and exit signs that operate at an exceptionally low operating voltage. The new system is also backwards compatible with the current panels and gadgets from the earlier FIREscape series, ensuring project continuity. In contrast to centralized battery or mains-powered systems, FIREscape Nepto can continuously self-test and monitor itself, making installation and maintenance of the new system quick, simple, and less expensive.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Emergency Lighting Market Characteristics
3. Emergency Lighting Market Trends And Strategies
4. Emergency Lighting Market - Macro Economic Scenario
5. Emergency Lighting Market Size And Growth
…..
27. Emergency Lighting Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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