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According to the emergency lights industry analysis, this market is anticipated to witness impressive growth and will post a CAGR of close to 8% over the forecast period. With an increase in safety regulations by governments around the world, the market for emergency lights is likely to have a positive outlook over the next four years. In the recent years, most of the construction companies follow the rules set up by the local or regional authorities by installing emergency lights at the time of construction. Moreover, in countries like the US, OSHA, and NFPA enforce stringent safety regulations regarding means of egress. Also in the UK, the British Standards Institute delivers guidelines for the emergency light manufacturer. BS 5266-1: 2011 specifies the use of emergency lights for residential hotels, nursing homes, hospitals, educational institutions, licensed premises, offices, shops, and multi-story apartments. These mandatory government regulations set by various national and regional bodies specify the minimum requirement for any type of emergency lights for the manufacturers. These safety regulations have led to the augmented adoption of emergency lights.
In terms of geography, the Americas was the highest revenue contributing region in the market and will continue to dominate the market until the end of 2020. The stringent regulations set by the Occupational Safety and Health Administration (OSHA) and NFPA on installations of emergency lights at exit routes contributed to this market’s growth in the region. Moreover, the market in North America is also driven by the high consumer awareness of the benefits of using emergency lights over other substitutes like UPS in emergency situations.
The global emergency lights market is highly competitive owing to the presence of several well-established vendors like Philips and Hubbell that have been active in the lighting market for over 100 years. Vendors are capturing market shares by manufacturing products that feature efficient batteries and automated testing of lights after installation. Several manufacturers are introducing LED-based emergency lights that are energy efficient. The vendors are primarily focusing on developing countries where power outages are a major concern. Also, major lighting manufacturers are acquiring manufacturers specialized in emergency lights to gain maximum emergency lights market share. The vendors compete based on parameters such as new energy-efficient technologies, automated testing features, and specific functionalities.
Key vendors in this market are
Other prominent vendors are Airfal, Big Beam Emergency Systems, Clevertronics, Emergency Lighting Products, Ektor, Fulham, Havells Sylvania, Illuminex, Linergy, Mule Lighting, NVC Lighting, Osram, Ventilux, Teknoware, Thorlux lighting, and Zumtobel.
During 2015, the industrial sector accounted for the majority of the market shares and is likely to lead the market over the coming years as well. The growth of this segment is attributed to the rapid industrialization across the world. Also, the global construction industry is growing rapidly, which will have a direct positive impact on the global emergency lights market as it occupies 3%-7% of the overall lighting units. Moreover, heavy industries such as machinery manufacturing, oil and gas, shipbuilding, steel, chemical, and paper mills, are key end-users in the industrial segment. These industries are capital intensive, and any power-related issues can cause substantial damage to the business. Installing appropriate emergency lights can reduce the impact of power outages to some extent, by providing enough light for workers to continue their task and in turn results in an increase in the emergency lights market size.
The fluorescent segment accounted for the most of the market shares during 2015 and will continue to lead the market until the end of 2020. Fluorescent lights last seven-to-nine times longer and produce 9% less heat and better light than incandescent lights. Moreover, fluorescent lights are more cost-effective than incandescent and LED lights, which will contribute to this segment’s growth over the next four years.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Global Emergency lights market
PART 06: Market segmentation by application
PART 07: Market segmentation by light source
PART 08: Market segmentation by battery type
PART 09: Geographical segmentation
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Key vendor analysis
PART 17: Appendix
PART 18: Explore Technavio
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