Emergency Lighting Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
The emergency lighting are designed to activate when a power outage creates low-visibility conditions. It allows the safe, rapid, and effective evacuation of places and buildings not only in the event of a power loss but even when the main lighting is still accessible. Emergency lighting lowers panic and saves lives by providing critical illumination and directing occupants to safe locations and safety equipment.

Sizing and Forecast
The emergency lighting market size has grown strongly in recent years. It will grow from <b>$6.34 billion in 2023 to $6.85 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. </b> The growth in the historic period can be attributed to safety regulations, urbanization and infrastructure growth, power outages, fire safety codes, resilience and disaster preparedness.

The emergency lighting market size is expected to see strong growth in the next few years. It will grow to <b>$9.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. </b> The growth in the forecast period can be attributed to green building practices, iot integration, smart building solutions, resilience and disaster preparedness, adaptive lighting. Major trends in the forecast period include technological advancements, battery technology advancements, led technology adoption, centralized monitoring and control, sustainability and energy efficiency.

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Segmentation & Regional Insights
The emergency lighting market covered in this report is segmented –

1) By Power System: Self-Contained, Central, Hybrid
2) By Offering: Hardware, Software, Services
3) By Battery: Ni–Cd, Ni–MH, LiFePO4, Lead–Acid
4) By End-User: Residential, Commercial, Industrial, Other End-Users

<b>North America</b> was the largest region in the emergency lighting market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the emergency lighting market during the forecast period. The regions covered in the emergency lighting market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The growth in the construction sector is expected to propel the growth of the emergency lighting market going forward. Emergency lighting is required on construction sites to ensure the safety of the construction workers because, construction sites often have construction materials, electrical switchboards, portable equipment, and other obstructions in the way of evacuation routes that obstruct quick evacuation during an emergency. For instance, according to the Indian Ministry of Statistics and Programme Implementation, in 2022, the construction sector is expected to grow in double digits at 10.7%. Therefore, growth in the construction sector is driving the growth of the emergency lighting market.

Key Industry Players
Major companies operating in the emergency lighting market include <b> Acuity Brands Inc., Syska LED Lights Private Limited, Eaton Corporation plc, Hubbell Incorporated, Legrand Group, OSRAM Licht AG, Signify Holding, Schneider Electric SE, Zumtobel Group AG, Daisalux S.A.U., Emerson Electric Co., Larson Electronics LLC, ABB Group, Acuity Brands Inc., Beghelli S.p.A., Fagerhult AB, Glamox AS, HADLER GmbH, Herbert Waldmann GmbH & Co. KG, iGuzzini illuminazione S.p.A., LIGMAN Lighting Co. Ltd., Lumenpulse Group Inc., NVC Lighting Technology Corporation, Opple Lighting Co. Ltd., PAK Corporation, R. STAHL AG, Raytec Ltd., Safelincs Ltd., SCHRÉDER Group, SITEM S.p.A., Thorlux Lighting, Trilux GmbH & Co. KG, WISKA Hoppmann GmbH </b>

The emergency lighting market report table of contents includes:

1. Executive Summary

2. Emergency Lighting Market Characteristics

3. Emergency Lighting Market Trends And Strategies

4. Emergency Lighting Market – Macro Economic Scenario

5. Global Emergency Lighting Market Size and Growth

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31. Global Emergency Lighting Market Competitive Benchmarking

32. Global Emergency Lighting Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Emergency Lighting Market

34. Emergency Lighting Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Acuity Brands Inc

Syska LED Lights Private Limited

Eaton Corporation PLC

Hubbell Incorporated

Legrand Group

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