“Declining average selling price of LEDs is expected to drive the emergency lighting market”
The emergency lighting market is expected to be valued at USD 6.68 billion by 2022, growing at a CAGR of 7.83% between 2017 and 2022. The market growth can be attributed to several factors such as booming global construction industry, declining average selling price of LEDs, and increased adoption of advanced lighting technologies in various developing countries such as India, China, and South Korea.
“Market for LEDs is expected to grow at a high rate in terms of market size”
The market for LEDs is expected to grow at the highest CAGR between 2017 and 2022. LEDs have a potential for enormous energy savings along with environmental benefits. Hence, it is being promoted globally. The US Department of Energy (DOE) is promoting LEDs for general-purpose illumination to achieve its long-term goal of increasing the efficiency of energy consumption in the US.
“North America expected to hold the largest share of the market during the forecast period”
The emergency lighting market in North America held the largest share in 2016 in terms of revenue, and the trend is expected to continue during the forecast period. Emergency lighting systems are majorly deployed for the residential, commercial, and industrial applications. The market in North America is driven by the high consumer awareness of the benefits of using emergency lights over other substitutes such as UPS in emergency situations.
Breakdown of primary participants:
- By Company Type: Tier 1?40%, Tier 2?35%, and Tier 3?25%
- By Designation: C-Level Executives?35%, Directors?25%, and Others?40%
- By Region: North America?45%, Europe?30%, APAC?20%, and RoW?5%
Some of the major players operating in the emergency lighting market are
Philips Lighting Holding B.V. (Netherlands), Hubbell Lighting Inc. (US), Cooper Industries (Ireland), Schneider Electric SE (France), Emerson (US), Legrand S.A. (France), Acuity Brands (U.S.), Beghelli S.p.A. (Italy), Daisalux (Spain), Zumtobel Group (Austria), OSRAM Licht AG (Germany), Digital Lumens (US), Fulham Co. Inc. (US), Arrow Emergency Lighting Limited (Ireland), Arts Energy (France), and Taurac (US).
In this report, various segments such as power system, battery type, light source, application, offering, and geography have been covered. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across four main regions: North America, Europe, APAC, and RoW. Value chain analysis has been included in the report, along with the description of each of its forces and their impact on the market.
Reasons To Buy the Report:
- This report includes statistics pertaining to the emergency lighting market by power system, battery type, light source, application, offering, and geography, along with their respective market size.
- Value-chain analysis and key industry trends have been provided for the market.
- Major drivers, restraints, opportunities, and challenges for the emergency lighting market have been provided in detail in this report.
- This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem and the recent development strategies adopted by the key players in the market such as new product launches and developments, partnerships, and mergers and acquisitions.