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Global Emergency Lighting Market to Reach $7.3 Billion by 2026
[July 14, 2021]

Global Emergency Lighting Market to Reach $7.3 Billion by 2026


SAN FRANCISCO, July 14, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Emergency Lighting - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 7; Released: June 2021
Executive Pool: 6097
Companies: 131 - Players covered include Philips Lighting Holding B.V.; Hubbell Lighting Inc.; Cooper Industries; Schneider Electric SE; Emerson; Legrand S.A.; Acuity Brands; Beghelli S.p.A.; Daisalux; Zumtobel Group; Digital Lumens; Fulham Co. Inc.; Arrow Emergency Lighting Limited; Arts Energy; Taurac and Others.
Coverage: All major geographies and key segments
Segments: Battery Type (Lithium-Ion, Ni-MH, Ni-Cd, Other Battery Types); Light Source (LED, Fluorescent, Induction, Other Light Sources); Power System (Self-Contained, Central, Hybrid); End-Use (Industrial, Commercial, Residential, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Emergency Lighting Market to Reach $7.3 Billion by 2026

Emergency lighting systems are designed for automatically illuminating the building in the event of electricity failures and assisting in safe and efficient evacuation of the building, thereby preventing occupants from panicking, and suffering emotional distress and injury. By improving visibility, these lighting systems also assist emergency and rescue teams in performance of their tasks. The various types of emergency lighting include safety lighting and stand-by lighting. Stringent safety and fire prevention regulations have and will continue to provide new opportunities for growth of emergency lighting systems. For example, BS:5266, the British Standard regulations, are designed for assisting with the designing and installation processes associated with emergency lighting systems. Expected recovery in construction activitis the world over, post pandemic will power growth in the near future. Additionally, rapid urbanization, together with increasing disposable incomes of the global middle-class will also 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.



Amid the COVID-19 crisis, 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.

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. More

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About Global Industry Analysts, Inc. & StrategyR
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: ZA@StrategyR.com 

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SOURCE Global Industry Analysts, Inc.


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