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The Worldwide Emergency Lighting Industry is Expected to Reach $7.9 Billion by 2027
Dublin, April 27, 2022 (GLOBE NEWSWIRE) -- The "Global Emergency Lighting Market Size, Share & Industry Trends Analysis Report By Offering (Hardware, Software, and Services), By Power System, By Lighting Type, By Application, By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Global Emergency Lighting Market size is expected to reach $7.9 billion by 2027, rising at a market growth of 6.3 % CAGR during the forecast period.
An emergency light is a battery-powered illumination gadget that immediately powers up and switches on lights in case of a sudden power cut or when the primary power supply is shut and normal lights are turned off. In addition, in case of a fire emergency, a power outage, or the breakdown of typical lighting supplies can all cause the primary power source to fail. Emergency lights are widely being employed in various newly constructed offices and dwellings. It can also be used in a variety of settings, including residential, commercial, and industrial.
One of the most crucial technological developments in emergency lighting has been the incorporation of LEDs in green or red exit signs. Several exit signs in the emergency lighting sector now utilize emergency lighting technology because it is more cost-effective, long-lasting, and energy-efficient than other traditional illumination sources. This emergency lighting is also necessary in public venues such as schools, industrial infrastructure, hospitals, and other public places so that people can safely be rescued in the case of an emergency.
One of the most significant benefits of the emergency light is its substantial energy density of lithium-based batteries, combined with their long life, which is double that of Ni-Cd (nickel-cadmium) batteries and Ni-MH (nickel-metal hydride). Additionally, the increased adoption of LEDs and the combination of emergency lighting and aesthetic lighting are key factors that are allowing manufacturers to bring more developments to their products.
It prevents the user from becoming trapped in a tough circumstance due to a sudden blackout and allows the user to quickly create an emergency light. This circuit replaces incandescent lamps with light-emitting diodes, resulting in a circuit that is both energy-efficient and brighter with its illuminance. Additionally, the circuit employs a novel theory to improve the economic performance of the unit.
COVID-19 Impact Analysis
The COVID-19 outbreak had a severe impact on society and the economy around the world. The pandemic's impact on the supply chain has been increasing day by day. This has caused stock market uncertainty, as well as lowered corporate confidence, hindered supply chains, and increased consumer concerns. Due to the suspension of manufacturing services across the world, various countries under lockdown experienced major losses of businesses and money. The emergence of COVID-19 also had a significant impact on production and manufacturing operations, resulting in a decline in the growth of the emergency lighting market.
COVID-19's continued spread has become one of the world's most serious economic risks, bringing widespread concern and economic suffering for consumers, businesses, and communities around the world.
Market Growth Factors:
Increasing number of government initiatives
Various governments are planning to build world-class infrastructure across their countries in order to attract key investors from all over the world. In addition, many governments have announced the development and construction of numerous smart city projects. The goal of these projects is to incorporate automatic and comprehensive emergency lighting systems.
Moreover, NFPA 70 - National Electric Code, International Fire Code, Advanced Occupational Safety and Health Administration Code of Federal Regulations, Advanced, Latest Standard Fire Prevention Code 1999, NFPA 101 - Life Safety Code, and NFPA 1997 5-9.3 are a few of the primary regulations for primary testing, maintaining, and regulating advanced emergency lighting systems all over the world.
Reducing LED Prices
Emergency lighting is typically characterized as basic lighting with the ability to turn on automatically when there is no specific source of continuous power supply or if any normal lighting malfunctions on a regular basis. Most modern structures now include an emergency light that can be installed during the construction process. In the industrial context, LEDs can save up to 70% of energy. Moreover, the incorporation of LEDs into the security sector is likely to have a substantial advantage on the emergency lighting industry because of their great controllability.
The fundamental, as well as one of the most important factors that are increasing the popularity of emergency lighting systems, is the steady drop in average selling prices of light-emitting diodes. Because of their low energy efficiency and long-life cycle, LEDs are widely being employed in the emergency lighting industry, due to which, the overall cost of the emergency lighting systems are being reduced.
Marketing Restraining Factor:
High initial investment and maintenance cost
The initial investment that is required for the deployment of efficient emergency lighting systems, such as capital investment and operational cost, is very high. Architects, electrical experts, and lighting designers have numerous issues when it comes to providing sufficient emergency lighting. The required information about the premises must be collected either through blueprints, site surveys, or the building in-charge at the commencement of any emergency lighting design. the inadequate information of all these factors may result in poor and inefficient design and installation of the emergency lighting systems.
The high capital investment can result in the incorporation of low-quality components in the emergency lighting systems. While emergency lighting goods are required by law and are an important construction component, badly designed lighting products are likely to suffer from a lower aesthetic appeal.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in Emergency Lighting Market
Chapter 4. Global Emergency Lighting Market by Offering
4.1 Global Hardware Market by Region
4.2 Global Software Market by Region
4.3 Global Services Market by Region
Chapter 5. Global Emergency Lighting Market by Power System
5.1 Global Self-Contained Power System Market by Region
5.2 Global Central Power System Market by Region
5.3 Global Hybrid Power System Market by Region
Chapter 6. Global Emergency Lighting Market by Lighting Type
6.1 Global LED Market by Region
6.2 Global Fluorescent Lighting Market by Region
6.3 Global Incandescent Market by Region
6.4 Global Others Market by Region
Chapter 7. Global Emergency Lighting Market by Application
7.1 Global Industrial Market by Region
7.2 Global Commercial Market by Region
7.3 Global Residential Market by Region
Chapter 8. Global Emergency Lighting Market by Region
Chapter 9. Company Profiles
9.1 Zumtobel Group AG
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expense
9.1.1 Recent Strategies and Developments:
9.1.1.1 Partnerships, Collaborations, and Agreements:
9.2 Acuity Brands Lighting, Inc.
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Regional and Segmental Analysis
9.2.4 Research & Development Expense
9.2.5 Recent Strategies and Developments:
9.2.5.1 Partnerships, Collaborations, and Agreements:
9.2.5.2 Acquisitions and Mergers:
9.2.5.3 Product Launches and Product Expansions:
9.4 Legrand S.A.
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Regional Analysis
9.4.4 Research & Development Expense
9.4.5 Recent Strategies and Developments:
9.4.5.1 Acquisitions and Mergers:
9.5 Signify N.V. (Cooper Lighting, LLC)
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expense
9.6 Koninklijke Philips N.V.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expense
9.6.5 Recent Strategies and Developments:
9.6.5.1 Acquisitions and Mergers:
9.7 AMS AG (OSRAM Licth AG)
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental and Regional Analysis
9.7.4 Research & Development Expense
9.8 Schneider Electric SE
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental And Regional Analysis
9.8.4 Research & Development Expense
9.8.5 Recent Strategies and Developments:
9.8.5.1 Partnerships, Collaborations, and Agreements:
9.8.5.2 Acquisitions and Mergers:
9.8.6 SWOT Analysis
9.9 Beghelli S.p.A.
9.9.1 Company Overview
9.9.2 Financial Analysis
9.10. Daisalux, S.A.
9.10.1 Company Overview
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