New report published by QY Research which offers insights on the global Emergency Lighting market. The Emergency Lighting market has been experiencing steady growth graph since past years. During the 2017-2023 timeline, the global market for Emergency Lighting is expected to reflect a 1.5x increase in the revenue growth. In 2018 the global Emergency Lighting market was valued at US$ 4,930 Mn and by the end of the assessment year (2023), it is estimated to touch a value more than US$ 6,923 Mn growing at a value CAGR of 7.03% throughout the period of forecast.
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Global Emergency Lighting Market: Market Driver and Restraint
Due to technological advancement in Emergency lighting Market, the market of Emergency lighting is growing faster. Strict fire and safety regulations are giving rise to new opportunities for global participants in the emergency lighting market.
Incorporating light-emitting diodes (LEDs) in red or green exit signs has been one of the most important technological advancements in emergency lighting. Most exit signs in the Emergency Lighting industry now use this Emergency Lighting technology as it has become cost-competitive when compared to other traditional illumination sources, is long-lived, and is more energy efficient.
Emergency lighting is used to automatically provide sufficient lighting for the safe evacuation of people at the time of electricity supply failure. This Emergency Lighting is required in public places like healthcare centers, corporate offices, education institutions, industrial building and other public places so that people can be evacuated safely at the time of emergency.
LEDs are energy-efficient and their price has been declining since the last few years. Therefore, they are largely used for emergency lighting systems. The market for incandescent light is declining because these are often considered as the least energy-efficient type of lighting commonly found in residential buildings. The old-generation light sources are being slowly phased out and LEDs are preferred as they offer a longer working life and also consume less energy.
Global Emergency Lighting Market: Key Takeaways
In the industry, Philips profits most in 2017 and recent years, while Schneider and MPN ranked 2 and 3.The market share of them is 14.32%, 7.74% and 5.17% in 2017.The gap of market share is keep on enlarged due to different strategy.
Global Emergency Lighting Market: Forecast by Region
China has the largest global export quantity and manufacturers in Emergency Lighting market, while the Europe is the second sales volume market for Emergency Lighting in 2017.
Global Emergency Lighting Market: Key Players
Philips, Schneider, MPN, Acuity Brands, Ventilux, Eaton, ZFE, Hubbell, ABB, Mule, LINERGY, Legrand, Clevertronics, Emerson, STAHL, Notlicht, Olympia electronics, Zhongshan AKT, RZB, are the key vendors included in this report.
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