Emergency Lighting Market is Projected to Augment at a Notable CAGR During the Forecast Period

The emergency lighting market is expected to reach $7.4 billion by 2024. The growth in the market would be attributed to growing number of construction projects, globally as well as technological advancements in the lighting industry.

Based on battery type, global emergency lighting market is segmented into nickel-cadmium (Ni-Cd), nickel-metal hydride (Ni-MH), lithium-ion (Li-ion), and Lead-acid. Among these, Li-ion battery category held largest share in the market, accounting for an estimated share of around 39% in 2018. Further, it is expected to register fastest CAGR during the forecast period.

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Based on light source, emergency lighting market is categorized into fluorescent, light emitting diode (LED), incandescent, induction, and others; wherein ‘others’ include high intensity discharge (HID), cold cathode and halogen lamps.

North America is the largest market for emergency lighting, contributing over 30% to the global emergency lighting market in 2018.

Additionally, there is an increase in use of self-diagnostic systems in emergency lighting applications. The self-diagnostic systems perform a self-diagnostic function that analyzes the performance of light units, verify its operation and send alerts to the respective department regarding problems.

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Some of the key players operating in the emergency lighting market are Osram Licht AG, Hubbell Incorporated, Eaton Corporation plc, Signify Holding, Syska LED Lights Pvt Ltd., Zumtobel Group AG, Acuity Brand Inc., Schneider Electric SE, Legrand S.A., Daisalux S.A.U., and Larson Electronics LLC.

Emergency Lighting Market Segmentation

Market Segmentation by Power System

• Self-Contained
• Central
• Hybrid

Market Segmentation by Battery Type

• Nickel-cadmium (Ni-Cd)
• Nickel-metal hydride (Ni-MH)
• Lithium-ion (Li-ion)
• Lead-Acid

Market Segmentation by Light Source

• Fluorescent
• Light Emitting Diode (LED)
• Incandescent
• Induction
• Others (High Intensity Discharge (HID), Cold Cathode and Halogen Lamps)

Market Segmentation by Offering

• Hardware
• Software
• Services

Market Segmentation by Application

• Industrial
• Commercial
• Residential
• Others (Railway station, Airports and Ship yards)

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