Emergency Lighting Market worth 6.68 Billion USD by 2022
The emergency lighting market is expected to reach USD 6.68 Billion by 2022, at a CAGR of 7.83% between 2017 and 2022. The demand for emergency lighting is increasing because of several factors such as technological advancements taking place in the lighting industry, declining average selling price of LEDs, and increased infrastructure growth in various developing countries such as India, China, and South Korea.
The emergency lighting market is expected to reach USD 6.68 billion by 2022, growing at a CAGR of 7.83% during the forecast period. The growth of this market is propelled by several factors such as increased infrastructure growth in various developing countries such as India, China, and South Korea.
The major opportunities for this market are the growing adoption of better safety standards by the government across the globe. 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).
Philips Lighting Holding B.V. (Netherlands) was ranked first in the emergency lighting market. The company focuses on strategies such as geographical expansion, partnerships, and agreements to grow in the market. In July 2016, the company entered into an agreement with Ladvance (China) to increase its sales and distribution network. In June 2016, Philips Lighting signed a patent license agreement with the US-based company Amerlux. The license, based on Philips Lighting’s EnabLED licensing program’s published terms and conditions, provides Amerlux with full, worldwide access to a wide range of basic LED control and system-level technologies.
Hubbell lighting Inc. (US) was ranked second in the emergency lighting market. The company focuses on strategies such as new product launches and expansions. In June 2015, the company launched NEMA 4X Dynamo Emergency Light. Designed for complex industrial applications, the high-output Dynamo enables spacing up to 74’ at 12’ mounting heights or 81’ at 7.5’ mounting heights, which is the widest spacing in the industry. Plus, the LED emergency egress luminaire includes a lifetime LED warranty. Also, in July 2016, the company opened a new regional distribution center in Dallas, Texas to support an increase in the market demand for its products.
The emergency lighting market value chain comprises many entities from lighting component manufacturers to technology providers. Products and devices are distributed by specialized distributors in the lighting and related fields. Some of the manufacturers that have a strong presence across the concerned geographic regions have a built-in distribution network. Distributors and manufacturers often establish partnerships with distributors across various regions having expertise in products and services concerned with emergency lighting. These distributors are the key points of contact for professional and custom installers and consist of a strong network of system integrators, which include custom system integrators, dealers, business models, and contractors.