Dublin, Nov. 11, 2020 (GLOBE NEWSWIRE) -- The "Emergency Lighting Market Research Report: By Power System, Battery Type, Light Source, Offering, Application - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
From $5.2 billion in 2019, the revenue generated in the emergency lighting market is expected to reach $10.4 billion by 2030, at a 6.5% from 2020 to 2030
The most important factors leading to the growing demand for emergency lighting solutions are the continuous slump in light-emitting diode (LED) prices, expanding infrastructure sector, and advancements in lighting technology.
On the basis of battery, the market is classified into nickel-metal hydride (Ni-MH), nickel-cadmium (Ni-Cd), lead-acid, and lithium-ion (Li-ion). Among these, Li-ion is the largest classification in the emergency lighting market, and the situation is not expected to change in the coming years. This is ascribed to their slow self-discharge and low maintenance requirement advantages. In addition, not only are these batteries lighter than lithium-cadmium or lead-acid variants, but they also recharge quicker. Moreover, government support for Li-ion batteries, particularly in Asia-Pacific (APAC) would continue driving this category.
The emergency lighting market is categized, based on offering, into services, software, and hardware, among which the software category would experience the fastest growth during the next decade. This is attributed to rising demand for sophisticated software, so the operations of the lights can be remotely monitored and controlled. In addition, such software is also used by lighting original equipment manufacturers (OEMs) to analyze how well the lights are working, as well as to run various tests on them.
Emergency lighting solutions are trending in the aviation sector, on account of the expansion in the tourism industry and entry of low-cost carriers (LCC). The growth in the aviation sector, on a year-on-year basis, is leading to the rising demand for sophisticated aircraft components, such as emergency lights. Moreover, the safety regulations the aviation sector is subject to are among the most stringent in the world, and they make the installation of emergency lights in aircraft mandatory. During emergencies, such products are expected to illuminate the path to the nearest exit, which drives their adoption.
The most important driver for the advance of the emergency lighting market is the rising number of construction projects. To accommodate the rapidly growing population, residential, industrial, and commercial infrastructure is being developed at a substantial scale, which is resulting in the increasing demand for emergency lights. In addition, several countries around the world have initiated smart city projects, to offer the booming urban population better living conditions. For instance, the Indian government launched the Smart City Project, revolving around the construction 100 such urban centers, in 2015.
In 2019, North America made the largest revenue contribution to the emergency lighting market, on account of the increasing infrastructure development activities. Further, the focus on energy conservation is high, while there also strict mandates for the installation of emergency lights at all settings. In the years to come, the highest CAGR in the industry is expected to be witnessed by Asia-Pacific (APAC). The smart homes market is expanding in the region, and the government of numerous nations, including South Korea, India, and Thailand, are developing smart cities.
Therefore, with the growing construction sector, in a world where the focus on energy efficiency is strong, the demand for emergency lighting products will keep increasing.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Assumptions for the Study
2.7 Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Power System
4.1.2 By Battery Type
4.1.3 By Light Source
4.1.4 By Offering
4.1.5 By Application
4.2 Value Chain Analysis
4.2.1 Raw Material
4.2.2 Component Manufacturing & Testing
4.2.3 System Integration
4.2.4 Distribution Channel
4.2.5 End User
4.3 Market Dynamics
220.127.116.11 Increasing adoption of emergency lighting systems in aviation sector
18.104.22.168 Declining prices of LEDs
22.214.171.124 Increasing number of construction projects
126.96.36.199 Impact analysis of drivers on market forecast
188.8.131.52 High capital investment and maintenance cost
184.108.40.206 Impact analysis of restraints on market forecast
220.127.116.11 Rising adoption of emergency lighting solutions for better safety standards
4.4 Impact of COVID-19
4.5 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Power System
5.2 By Battery Type
5.3 By Light Source
5.4 By Offering
5.5 By Application
5.6 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Market Share Analysis of Key Players
11.2 List of Key Players
11.3 Product Benchmarking of Key Players
11.4 Competitive Benchmarking of Key Players
11.5 Global Strategic Developments of Key Players
Chapter 12. Company Profiles
OSRAM Licht AG
Zumtobel Group AG
Acuity Brands Inc.
Syska LED Lights Private Limited
Larson Electronics LLC
Eaton Corporation plc
Schneider Electric SE
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