Global Emergency Lighting Market
- 4400.00 Dollar US$
- Published date: July 9, 2020
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- Pune, Akola, Maharashtra, India
Global emergency lighting market size was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX% during forecast period. Market Definition Emergency lighting is lighting system, which is used in an emergency condition when the standard electrical lighting system fails and main power supply is cut. Emergency lighting is generally required to operate fully automatically and provide illumination of a sufficiently high level to enable all occupants to evacuate the premises safely.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. Market Dynamics High adoption of better safety standards is major driving factor behind the growth of market. The emergency lighting provides variety of benefits such as efficiency, long lifespan, high brightness, low maintenance and reduced power consumption are ultimately leading to the growth of market. Furthermore, emergency lighting is simple to set up and very effective in the case of an emergency, increasing construction sector across the globe, reduced average selling price of LEDs and combination of emergency lighting with esthetic lighting are expected to improve market growth during forecast period. Nevertheless, high initial cost of emergency lighting devices and operational cost is the major restraining factor that could hamper the growth of market. Also, increasing testing cost, complexity of designs and lack of standardization could obstruct the growth of market. Global Emergency Lighting Market: Segmentation Analysis By power system, self contained emergency lighting segment dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during forecast period. Self-contained power system supplies the mandatory emergency lighting from a decentralized source and work autonomously without central power system. It provides the simplest and quickest solution as they consist of their own batteries. Eaton’s self-contained emergency lighting leads the market in quality of efficiency, finish and innovation. It is developed for different building types and provides reliable solutions to improve safety while saving time and money during maintenance. By battery type, LiFePO4 segment dominated the market and is expected to grow during forecast period. The lithium iron phosphate battery is the sub segment of lithium ion battery. It offers longer life cycle, have very constant discharge voltage and phosphates used in batteries avoids cobalt's cost and environmental concerns, which results into the growth of market. The report has covered the key trends and developments in the industry, which will provide current status of industry and future curve in the forecast period. In Aug 2018, Hochiki Europe has launched FIREscape+, which combines emergency lighting, fire detection and way finding technology. FIREscape+ offers intelligent false alarm management and efficient installation and maintenance, according to the life safety manufacturer. If the critical condition like fire occurs and there is a power failure, emergency lighting make it easier to leave the building safely and calmly for everyone in the premises.
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