Emergency Lighting Market to surpass USD 19 billion by 2032, Says Global Market Insights inc.
Emergency Lighting Industry size is expected to register 10% CAGR between 2024 and 2032 propelled by rising awareness of safety and preparedness.
Selbyville, Delaware, Oct. 07, 2024 (GLOBE NEWSWIRE) — Emergency Lighting Market was valued at USD 7.5 billion in 2023 and is projected to be worth USD 19 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
This surge is largely attributed to heightened awareness regarding safety and emergency preparedness across both public and private sectors. With an increasing emphasis on safety, there is a pronounced demand for dependable emergency lighting systems as they play a crucial role in guiding occupants during power outages or emergencies, propelling the market growth. For example, in October 2023, Polaris unveiled its latest extreme off-road Emergency Light Kit tailored for the GENERAL XP 1000. This vehicle seamlessly merges the RZR’s high-performance traits with the RANGER’s dependable utility. The cutting-edge kit boasts both Infrared (IR) and Blackout lighting features, ensuring the GENERAL XP 1000 is primed for any demanding scenario.
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Another key trend in the emergency lighting market is the rapid adoption of LED systems. LEDs outshine traditional lighting in energy efficiency, lifespan, and reliability. With energy efficiency taking center stage for businesses and governments alike, the momentum towards LED emergency lighting is gaining speed.
The overall industry is divided into power source, mode of operation, light source, application, and region.
Emergency lighting market, by light source includes LED, fluorescent, incandescent, and others. Notably, the LED segment is projected to witness a CAGR exceeding 12% during the forecast period. LED technology is swiftly establishing itself as the benchmark in the emergency lighting domain, thanks to its unmatched energy efficiency, durability, and dependability. These systems guarantee bright, consistent lighting during outages or emergencies whilst prioritizing visibility and safety.
By mode of operation, the market splits into maintained and non-maintained segments. The maintained segment is set to dominate, with projections estimating revenues surpassing USD 9.5 billion by 2032. Maintained systems are engineered for continuous operation, ensuring illumination during both regular and emergency scenarios. They are also predominantly installed in critical areas like corridors, stairwells, and exit routes of commercial and public edifices.
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North America led the global emergency lighting market, securing over 35% share in 2023. The region’s strong construction industry and stringent safety regulations underpin its dominance. The U.S. plays a pivotal role, with both new constructions and upgrades to meet rigorous safety standards driving the market. Furthermore, North America’s commitment to energy efficiency and sustainability has spurred a high adoption rate of LED emergency lighting solutions.
Emergency Lighting Market Players
Companies including Schneider Electric SE, Eaton Corporation plc, Signify N.V., Legrand SA, Acuity Brands, Inc., Hubbell Incorporated, Zumtobel Group AG are some firms working in emergency lighting industry.
Market, by power source
- Self-contained (single-unit)
- Central battery system
- Direct mains powered
- Hybrid system
Market, by mode of operation
- Maintained
- Non-maintained
Market, by light source
- LED
- Fluorescent
- Incandescent
- Others
Market, by application
- Commercial
- Industrial
- Residential
- Healthcare
- Public infrastructure
- Logistics & transportation
- Others
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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