DUBLIN, December 06, 2021--(BUSINESS WIRE)--The "Emergency Lighting - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Emergency Lighting Market to Reach $7.3 Billion by 2026
The global market for Emergency Lighting estimated at US$5 Billion in the year 2020, is projected to reach a revised size of US$7.3 Billion by 2026, growing at a CAGR of 6.5% over the analysis period.
Lithium-Ion, one of the segments analyzed in the report, is projected to grow at a 7.9% CAGR to reach US$3.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ni-Mh segment is readjusted to a revised 5.8% CAGR for the next 7-year period.
This segment currently accounts for a 24.6% share of the global Emergency Lighting market. Demand for lithium-ion battery-based emergency lighting systems is being driven by sustained decline in the prices of Li-ion batteries and advancements in lithium ion technology.
Additionally, rapid urbanization, together with increasing disposable incomes of the global middle-class will fuel growth in the coming years. The primary factors influencing growth for emergency lighting systems` batteries include rapid technological advancements, environmental regulations, intense competition, and frequently changing government policies.
Recent years are also witness to rapid advancements in battery technology, with the lithium ion technology enabling the development of smaller, more powerful batteries and other back-up solutions. Another emerging technological trend is the increased demand for nickel metal hydride (NiMH) batteries for use in both exit-signage and pathway lighting.
The U.S. Market is Estimated at $1.6 Billion in 2021, While China is Forecast to Reach $1.2 Billion by 2026
The Emergency Lighting market in the U.S. is estimated at US$1.6 Billion in the year 2021. The country currently accounts for a 30.67% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.2 Billion in the year 2026 trailing a CAGR of 8.1% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.1% and 5.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6% CAGR while Rest of European market (as defined in the study) will reach US$1.3 Billion by the end of the analysis period.
The primary factor driving the dominance of the North American market is the sustained increase in the use of emergency lighting systems in residential, industrial and commercial constructions. Spurred by high consumer awareness about the benefits that emergency lighting systems offers over other alternatives, including UPS, during emergency situations, the region is projected to retain its dominance.
Growth within the Asia-Pacific region will continue to be propelled by sustained rapid pace of urbanization being witnessed in developing countries such as China and India, which is resulting in the region experiencing a higher demand for infrastructure, including emergency lighting systems.
Ni-Cd Segment to Reach $1.4 Billion by 2026
In the global Ni-Cd segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$878.5 Million in the year 2020 will reach a projected size of US$1.2 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$112.9 Million by the year 2026, while Latin America will expand at a 5.5% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Lighting & Luminaries. Why Are They So Important to Us
Emergency Lighting: Definition, Scope, Types & Applications
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 131 Featured)
Philips Lighting Holding B.V.
Hubbell Lighting Inc.
Schneider Electric SE
Fulham Co. Inc.
Arrow Emergency Lighting Limited
3. MARKET TRENDS & DRIVERS
Market Outlook 2021 & Beyond
Supported by Numerous Benefits of LED Technology, LED Based Emergency Lighting Witnesses Rising Demand
Stringent Regulations Governing Occupational Safety, Health and Working Conditions Provides Regulatory Driven Support to Growth
IoT Enters the Realm of Emergency Lighting. Here's' What is Going On
Rising Awareness Over the Value of Emergency Lighting Push Up Implementation Rates
Recovery in Construction Industry to Drive Demand for Emergency Lighting on Construction Sites
Penetration of Wireless Technology on the Rise in Emergency Lighting Market
Emergency Lights With Backup Batteries Are the First Choice for Very Obvious Reasons
What Makes Emergency Lights Intelligent?
An Overview of Emergency Lighting Systems in Various End-Use Applications
A Standard Feature in High Occupancy Residential Buildings
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/lopjhr
View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005358/en/
Laura Wood, Senior Press Manager
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