Global Emergency Lights Market 2016-2020

Overview of the emergency lights market

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.

Competitive landscape and key vendors

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.