Emergency lighting battery market

Q: Which region is dominating the market growth?

North America region is dominating the market growth. Read more

Emergency Lighting Battery Market Report, by Battery Type (NiCd battery, NiMH battery, Li-ion battery, and Lead-acid battery), by Lighting Source (LED, Incandescent, and Others), by Application (Residential, Commercial, and Industrial), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Jul 2022
CMI1766
151 Pages
Excel & Pdf
Semiconductors

Summary

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.

Recent Developments:

In January 19, 2020, Cooper Lighting Solutions simplifies smart home personalization and control for homeowners with the HALO Home™ Voice Downlight and Smart Bulb HALO Home Voice LED. This Downlight allows homeowners for access Amazon Alexa via the light fixture. HALO Home Smart Bulb provides simple, wireless control of traditional lighting fixtures through Bluetooth® technology with HALO Home mobile app – internet or hub are not required. Works with “If This Then That” (IFTTT) technology to communicate with another devices & services in the home

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,

Global Emergency Lighting Battery market- Impact of Coronavirus (Covid-19) Pandemic

Since the COVID-19 virus outbreak, the disease has spread to almost all around the world with the World Health Organization (WHO) declared it a public health emergency.

COVID-19 had affected the globally in lockdown, some of the industries were permanently shut down and some were partially operating has directly affected production and demand, by creating supply chain and market disruption, and by its economic impact on industries and financial markets. Due to these factors, it showing less demand for emergency lighting solutions from new construction projects is there impacting the market growth.

North America region held a dominant position in the Global Emergency Lighting Battery Market in 2021

Statistics:

North America held a dominant position in the Global Emergency Lighting Battery Market in 2021, followed by Europe.

Emergency Lighting Battery market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 5,690 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	6.5 %	2030 Value Projection:	US$ 9,886.3 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:	By Battery Type: NiCd battery, NiMH battery, Li-ion battery, Lead-acid battery By Lighting Source: LED, Incandescent, Others By Application: Residential, Commercial, Industrial
Companies covered:	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.
Growth Drivers:	Increasing number of construction activities
Restraints & Challenges:	Lack of awareness regarding emergency lighting systems

Figure 1: Global Emergency Lighting Battery Market Share (%), By Region, 2021

North America dominated the global emergency lighting battery market in 2021, due to the fast increasing construction of commercial as well as residential buildings in the U.S., as the U.S. government focus on energy efficiency lighting in buildings. In addition the implemented strict safety norms referring to installation of emergency lights in commercial buildings in the U.S. Therefore, these factors are expected to drive the market growth for emergency lighting battery in North America.

Asia Pacific emergency lighting battery market is expected to witness highest CAGR over forecast period from 2022 to 2030. The emergency lighting battery market for Asia Pacific is forecasted to hold 21.9% share in the global market by 2030. 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 the 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.

LED segment is expected to drive the Global Emergency Lighting Battery Market during the forecast period

LED segment is expected to drive the global emergency lighting battery market during the forecast period. The increasing government policies includes ban on the usage of incandescent light. In addition, the energy-efficient and cost-cutting nature of LEDs, are rising the penetration of LEDs.

Integration of LEDs with the security industry is expected to significantly impact the market growth of emergency lighting.

Figure 2: Global Emergency Lighting Battery Market Value (US$ Mn) Analysis and Forecast, 2017 - 2030

The Global Emergency Lighting Battery Market was valued at US$ 5,690 Mn in 2021 and is expected to reach US$ 9,886.3 Mn by 2030, growing at a CAGR of 6.5% between 2022 and 2030.

Major players operating in the Global Emergency Lighting Battery Market include Amazon Web Services, Inc., CA Technologies, Inc., Citrix Systems, Inc., Google Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation., Rackspace Inc., Red Hat, Inc., Tibco Software Inc., VMware, Inc., and Zend Technologies Ltd.

Table of Content

Table of Contents

*Browse 60 market data tables and 40 figures on "Global Emergency Lighting Battery Market - forecast to 2030”.

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What are the growth estimates for global emergency lighting battery market till 2030?

The global emergency lighting battery market is estimated to surpass US$ 9,886.3 Million by 2030.

Which are the prominent emergency lighting battery market players across the globe?

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.

What are the key factors hampering growth of the market?

Limited awareness about emergency lighting systems in emerging economies is one of the major factors that is expected to hamper growth of the market over the forecast period.

What are the key factors driving growth of the market?

Increasing number of construction activities is one of the major factors that is expected to propel growth of the market over the forecast period.

What is the Compound Annual Growth Rate (CAGR) of the market for next 8 years?

The market is estimated to exhibit a CAGR of 6.5% over the forecast period.

Which region is dominating the market growth?

North America region is dominating the market growth.