The global emergency lighting market is estimated to reach USD 11,628.2 million by 2032, escalating from USD 6,593.1 million in 2022 evolving at a CAGR of 5.8% during the forecast period.
In case of a power cut, emergency lighting is utilised to automatically provide enough illumination for a safe evacuation of people. Healthcare services, corporate workplaces, educational institutions, industrial buildings, and other public places are now adopting and using emergency lighting to safely evacuate people during an emergency.
| Report Attribute | Details |
|---|---|
| Emergency Lighting Market Value (2022) | USD 6,593.1 million |
| Emergency Lighting Market Anticipated Forecast Value (2032) | USD 11,628.2 million |
| Emergency Lighting Market Projected Growth Rate (2022 to 2032) | 5.8% |
The emergency lighting market is expected to increase significantly due to the lighting industry's fast technological developments. Additionally, the market is projected to develop as a result of the average selling price of LEDs falling and the global building sector expanding.
The integration of LEDs into red or green exit signs is one of the most important technological improvements in emergency lighting. There are opportunities and market growth worldwide due to government rules in several nations that require the usage of emergency lights near exits and emergency routes for appropriate lighting.
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It is anticipated that the fast urbanisation occurring in many nations and the rising quality of living of the populace would greatly increase the need for emergency lighting and accelerate the expansion of the emergency lighting market. The major reason behind this is the adoption of emergency lights pooled with aesthetically attractive light. The aesthetics of emergency lights are now being highlighted by manufacturers and lighting designers, particularly in surroundings like hotels, architectural structures, and residences. The placement and look of emergency lights bother end users. Sellers are now offering emergency lights that are aesthetically pleasing without sacrificing safety.
The market for emergency lighting is hindered by high capital expenditure and operating costs. Higher initial costs for the procurement of extra installation-related equipment are associated with custom design. Due to the time required to properly establish the controls system, this ultimately results in increased installation and commissioning expenses. On the other hand, a buyer may need an expert consultant or technician to handle the system. A higher setup cost may result from switching from a bespoke design to a ready-made one.
Hardware category holds the highest revenue share in the emergency lighting market. An emergency lighting system uses a range of different hardware parts, including LED lights, incandescent lights, fluorescent lights, test buttons, led drivers, batteries, emergency light modules, charge indicator, housing, and more. The primary hardware elements of the emergency lighting system are batteries and modules. The adoption trends of emergency lighting with these two hardware elements is expected to boost revenue growth of this segment during the forecast period.
The commercial sector holds the most significant revenue share in the emergency lighting market. The demand for emergency lighting is increasing simultaneously with the increasing size of the commercial sector. This in turn is driving this segment's expanding growth. An unexpected power outage can seriously hinder an organization's productivity and result in considerable losses. The emergency lighting solution saves a company's server from falling offline during a power cut. Therefore, the commercial sector uses energy lighting solutions very frequently.
North America dominates the global market for emergency lighting by possessing 33.2% market share. The primary reason behind this growth is the increase in construction of both commercial and residential as this results in increase in adoption of emergency lighting. Increased emphasis of the USA Government on energy-efficient building lighting and the introduction of stringent safety regulations governing the installation of emergency lights in commercial buildings in the nation are propelling the market.
Asia Pacific is predicted to be an extremely enticing region of the global emergency lighting market during the forecast period. The factors driving the market in this region include the fast expanding urbanisation and the rising public awareness of safety. When it comes to smart cities and smart homes, the region is making considerable investments. The adoption of emergency lighting is promoted by governments of both emerged and emerging economies like China, Japan, and India.
In emergency lightening market certain big corporations are also helping startups for innovations.
For example, in June 2022, The "Innovate to Inspire" Supply Chain Hackathon for Startups has been launched by Schneider Electric. The hackathon, which will be supported by K-Tech Innovation Hub, IKP, will concentrate on developing solutions unique to the problems facing the world's supply chains. Industry experts and enthusiasts from all around the globe will collaborate to develop cutting-edge supply chain solutions during the hackathon. According to recent developments, the supply chain sector has a huge potential for future growth, supported by cutting-edge technology.
Major players in the emergency lighting market are involved in various strategies such as mergers & acquisitions, partnerships, collaborations, etc. thereby consolidating their market position.
In June 2022, following the historic purchase of Hubbell's Commercial & Industrial (C&I) Lighting business, CurrentTM (previously GE Current, a Daintree Company) has introduced a new corporate identity. It took off The enterprise brand, which will be formally unveiled at LightFair 2022. It also unites the businesses under a single identity and a single goal to deliver the innovation customers demand with solutions that create motivating, effective, and secure environments.
In July 2022, Aperture luminaire has undergone significant improvements, according to Eureka, a recognised leader in decorative lighting solutions and acuity brands.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Power System, Technology, Application, Offering, Region |
| Regions Covered | North America; Latin America; The Asia Pacific; Middle East and Africa; Europe |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Philips Lighting Holding B.V.; Hubbell Lighting Inc.; Cooper Industries; Schneider Electric SE; Emerson; Legrand S.A.; Acuity Brands; Beghelli S.p.A.; Daisalux; Zumtobel Group; OSRAM Licht AG; Digital Lumens; Fulham Co. Inc.; Arrow Emergency Lighting Limited; Arts Energy; Taurac |
| Customization | Available Upon Request |
The global emergency lighting market is projected to propagate at a CAGR of 5.8% during the forecast period (2022-2032).
Emergency lighting market is predicted to account for USD 11,628.2 million by 2032.
North America is expected to top the emergency lighting market with a share of 33.2% in 2022.
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Emergency Lighting Market
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