Emergency Lighting Market

According to Stratistics MRC, the Global Emergency Lighting Market is accounted for $6.03 billion in 2023 and is expected to reach $10.83 billion by 2030 growing at a CAGR of 8.7% during the forecast period. Emergency lighting is an electronic light technology specifically adopted to reduce the potential injury of the occupants in case of any emergency, such as fire, storm, or any natural disaster. The emergency lighting sector mostly uses fluorescent light and LEDs as lighting sources. The main purpose of emergency lights and exit signs is to guarantee a secure evacuation from any area or structure by creating ideal visual conditions for locating escape routes. The required deployment of emergency lights in residential, commercial, and industrial applications is the consequence of specific rules and regulations enacted by both national and local regulatory bodies.

According to China State Construction Engineering Corporation projects survey report, the emergency lighting installation in newly added housing construction in China increased by over 43%, from 2015 to 2018.



Market Dynamics:

Driver:

Raising trend of design-driven emergency lights

The aesthetics of emergency lights are currently being highlighted by manufacturers and lighting designers since they play a significant role, particularly in settings like hotels, architectural structures, and homes. The placement and look of emergency lights worry end users. But vendors have begun providing emergency lights that are aesthetically pleasing without sacrificing safety. Manufacturers additionally produce specialized goods so that consumers and governmental organizations may design emergency lights in accordance with their needs. The market demand is being enhanced by these expanding tendencies.

Restraint:

High installation costs

Effective emergency lighting systems need a considerable capital investment and ongoing operating expenses. To provide enough emergency lighting, architects, electrical experts, and lighting designers must overcome a number of obstacles. The relevant information about the location must be acquired via blueprints, site inspections, or the structure before commencing any emergency lighting design. Emergency lighting systems may have low-quality components as a result of their high cost. This factor is hindering the market growth.

Opportunity:

Growing government initiatives

Expanding government initiatives will lower national GHG emissions. They improve energy security and produce large economic gains. The Australian Government, Global Environment Facility (GEF), and Global Efficient Lighting Centre (GELC) have all launched several initiatives for transition to energy-efficient lighting solutions. The effort aids nations as they switch to using energy-efficient lights, appliances, and machinery. The market is experiencing expansion as a result of these initiatives.

Threat:

High design costs

Custom emergency lights and exit signs are manufactured to the consumer’s exact specifications and needs. Higher expenditures for custom design ultimately result in higher installation and commissioning charges. If the information is not obtained correctly, it may lead to a poorly designed emergency lighting system. Due to the time required to effectively arrange the controls system, more equipment is needed for an installation. The setup may cost more if you go from a bespoke design to a company-made one. Local production of emergency lights may affect their business due to such restraints.

Covid-19 Impact

The covid epidemic has an effect on every business in the world. But the emergency lighting market didn’t get worse during the pandemic. Due to the severe lockdowns, manufacturers experienced a scarcity of electronic components. 89% of members of the Lighting Industry Association (LIA) reported their companies remained operational during the shutdown, and 95% of their revenues were recovered. The market, however, was constrained by a scarcity of manufacturing raw materials.

The self-contained power system segment is expected to be the largest during the forecast period

The self-contained power system segment is estimated to have a lucrative growth. The self-contained power systems offer the most fundamental and quickest solution. It contains batteries and works independently. They install more quickly and are simple to extend or modify afterwards. They are frequently the most economical choice for modest to medium-sized projects. Since no additional wiring is needed, installation expenses are rather minimal. Since each light is independent of the others, they provide improved system integrity, which reduces the need for specialized sub-circuit monitoring and promotes the segment's expansion.

The industrial segment is expected to have the highest CAGR during the forecast period

The industrial segment is anticipated to witness the fastest CAGR growth during the forecast period. Industrial emergency lights are appropriate for factories, warehouses, and other large spaces that need more watts or voltage for effective illumination. Safety is the top priority in industrial environments, and sustaining high production requires sufficient lighting and adequate illumination. Therefore, emergency lighting is provided in a variety of businesses to assist staff in responding to emergencies and leaving the area safely.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to its technological advancements. There are numerous significant corporations in this region. The increased demand for emergency lights in this region is mostly due to the rising safety consciousness. The main drivers of the the market's growth in North America are rising urbanization, the introduction of cutting-edge technology, energy-efficient goods, and an aging population.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. Due to the existence of several significant suppliers, China is currently holding the highest market share. In recent years, China has transformed into a significant exporter of goods to other nations. The regional market is expanding as a result of the expanding population. The main drivers of the market expansion in the region are the government's supportive policies and significant expenditures to upgrade infrastructure.



Key players in the market

Some of the key players profiled in the Emergency Lighting Market include Emerson Electric Co., Koninklijke Philips NV, Myers Group, Diehl Stiftung & Co. KG, Legrand SA, Fulham Co. Inc., Hubbell Lighting Inc, Toshiba Corporation, Zumtobel Group AG, Taurac, Acuity Brands Inc., Digital Lumens, Eaton Corporation PLC, Lutron Electronics, Schneider Electric SE, Daisalux SAU, Beghelli SpA, Osram Light Ag, Arrow Emergency Lighting Limited and Syska.

Key Developments:

In November 2021, Schneider Electric and Elite Partners Advanced Power Technology secured a second special project award for the ‘Sustainability in the Data Center Project of the Year category. Together, the companies delivered a modernization project for Newcastle City Council, using energy-efficient technologies to reduce its carbon footprint as part of a wider digital transformation initiative.

In February 2021, Honeywell acquired the whole outstanding shares of Sparta Systems for USD 1,303 million. Sparta Systems is expected to further strengthen its position in industrial automation, digital transformation solutions and enterprise performance management software. The business is included within the Performance Materials and Technologies segment.

In February 2021, Orient Electric targets smart lighting solutions to grow market share. Orient has launched a range of LED emergency lights which provide emergency light for up to 4 hours during power outages. The type of light includes an LED bulb, LED strip, LED recessed plate, and bulk head, which can be used as a normal light source and automatically switch to emergency mode to light up during power outages.

In October 2019, Eaton Corporation entered into an agreement to sell its lighting business to Signify for USD 1.4 billion. The company’s business segment had sales of USD 1.7 billion in 2018, and served customers across commercial, industrial, and residential space.

Types Covered:
• Emergency Lights & Electrical Exit Signals
• Non-Electrical Exit Signals
• General Emergency Lighting
• Other Types

Offerings Covered:
• Software
• Hardware
• Services

Battery Types Covered:
• NI–MH
• Ni–CD
• LiFepo4
• Lead–Acid
• Other Battery Types

Power Systems Covered:
• Central Power System
• Self-Contained Power System
• Hybrid Power System
• Other Power Systems

Light Sources Covered:
• Light - Emitting Diode (LED)
• Incandescent
• Fluorescent Lighting
• Induction
• Other Light Sources

End Users Covered:
• Residential
• Commercial
• Industrial
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances