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Press Release: Global Emergency Lighting Battery Market to Surpass US$ 3,107.8 Million by 2026
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Emergency Lighting Battery Market
Emergency lights are battery operated lighting devices that can automatically light emergency exit signs during power outage, in order to maintain continuous operation of the emergency light such as emergency escape lighting and standby lighting among others, to enable all occupants to evacuate the premises safely during an emergency situation. The key features of emergency lights includes low maintenance costs where only the periodic test and general cleaning are required along with low hardware equipment costs, which does not require extended wiring and special ventilation.
Increasing number of construction activities is driving global emergency lighting battery market growth
Increasing initiatives for development of smart city and connected infrastructure by various governments has resulted in adoption of advanced lighting technologies such as LED lights in buildings. For instance, according to a white paper by Technology that was sponsored by United Parcel Services and Consumer Technology Association, globally smart city initiatives increased to over 235 in 2016, which is increase of over 38% in comparison to 2013. Increasing number of infrastructural activities is expected to create a conducive environment for growth of the emergency lighting market through 2026, as emergency lights enables all emergency and exit lighting required for commercial, retail, industrial, or office building, even during power outage. Emergency lights are used for assisting people to exit buildings during fire or natural disasters.
Lack of awareness is one of the key factors restraining growth of the market
The key factor restraining market growth is limited awareness regarding emergency lighting systems in emerging economies such as India. In emerging economies, consumers are more inclined towards adopting cost effective alternatives as emergency lights such as portable emergency lights and UPS, where the maintenance cost is relatively low and therefore it is preferred,
Figure: Global Emergency Lighting Battery Market Value Share (%), by Region, 2026
Asia Pacific emergency lighting battery market is expected to witness highest CAGR over forecast period from 2018 to 2026
The emergency lighting battery market for Asia-Pacific is forecasted to hold 21.9% share in the global market by 2026. The growth in this region is attributed to increasing population, which is propelling demand for construction projects in this region. According to Worldometers, the population of Asia was 4,542 million as of June 8, 2018, which is equivalent to 59.66% of the total world population. India and China are densely populated countries in this region. For instance, as of June 8, 2018, the population of India was 1,353 million which increased from 1,339 million estimated by the end of 2017. India marked second position in the list of countries by population, worldwide. Hence, increasing population and increasing purchasing power are expected to drive growth of construction and real estate sector. According to India Brand Equity Foundation (IBEF), the Indian real estate market is expected to reach US$ 180 billion by 2020. Housing sector is expected to contribute around 11% to India’s GDP by 2020. Hence, the economic expansion of India is expected to boost growth of residential, commercial, and industrial sector. For instance, in 2015, 100 smart city mission was launched by Government of India to develop 100 smart cities across the country. Therefore, rising population and increasing construction industry projects will proportionally increase emergency lighting batteries demand in this region.
Key companies
Major players operating in the global emergency lighting battery market 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, and Osram Licht AG.
Emergency lighting is a battery operated lighting system that turns on automatically for the duration of power outage and give illumination of a sufficiently high level in order to enable the means of escape that can be effectively identified and safely used by occupants of the building. Emergency lights consists of one or more incandescent bulbs or one or more clusters of high-intensity light-emitting diodes (LED). These emergency lights are of two types; maintained and sustained. Maintained luminaires are permanently illuminated, and remain illuminated when power fails. Sustained luminaires turn on automatically when the power fails.
Market Dynamics
Increasing adoption of safety regulations by governments is expected to create conducive environment for growth of the global emergency lighting market, as new buildings are required to be equipped with emergency lights as per the new standards. For instance, National Fire Protection Association (NFPA), code number 101 sets standard facility requirements for protecting people from smoke, fires, and noxious fumes. Moreover, NFPA 110 and NFPA 111 set standards for the backup power supply needed for electrical failures from fires and other catastrophes. These factors are expected to further accelerate growth of emergency lighting batteries market.
However, initial cost of emergency lighting products is one of the major factor hindering the global market growth, as the price for LED lights per lumen is more expensive than conventional lights. Moreover, LED light’s performance largely depends on correctly engineering the fixture to manage the heat generated by the LED, which causes deterioration of the LED chip itself. LED lights may cause overheating, which is eventually leads to device failure. Hence, to maintain life of LED lights as well as the device, an additional heat-sink is required. Therefore, consumers need to spend extra along with lighting cost and battery cost, which is making these emergency lights expensive, in turn negatively affecting growth of the market.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 60 market data tables and 40 figures on "Emergency Lighting Battery Market - Global forecast to 2025”.
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