An emergency light is a backup lighting device that powers on by itself when the main power supply is cut and normal light falls. The loss of the main power supply can be a result of fire or a power cut and failing of normal lighting supplies. Today mostly every new building has these emergency lighting installed in the infrastructure during the construction. Looking at the increasing adoption of LED along with the various combination of emergency lightings with aesthetic lightings have boosted the global emergency lighting market. The market is also driven by factors such as the implementation of smart technologies in the lighting industry.
A recent report by Transparency Market Research offers an in-depth analysis of the global emergency lighting market. It also enlightens various facets of the market such as notable developments, key drivers and restraints, and opportunities for the businesses. The report also offers a detailed regional analysis of global emergency lighting market.
Global Emergency Lighting Market: Notable Developments
The competitive rivalry in the global emergency market is extremely high as a result of players like Eaton, Emerson, Schneider Electric, Syska, LeGrand among others. These players are involved in various strategic steps such as mergers and partnerships, collaborations and acquisitions.
- Most developments have become quite crucial for businesses in the global emergency lighting market in order to gain an edge over their competitors and stay at the top.
- The strategies are also implemented in order to attract new customers while retaining the existing ones and expand their businesses.
- For Instance, in May 2018, EATON CORPORATION collaborated with the Research and Innovation Group of the European Association of Automotive Suppliers (CLEPA), to conduct a research about the energy innovation in the automotive sector, including both electrified and traditional internal combustion vehicles.
Some of the key players of global emergency lighting market are: Schneider Electric SE, Osram Licht AG, Eaton Corporation plc, Signify Holding, Syska LED Lights Pvt Ltd., Zumtobel Group AG, Hubbell Incorporated, Acuity Brand Inc., Legrand S.A., and Daisalux S.A.U.
Global Emergency Lighting Market: Key Drivers
The key factors that are influencing the growth of the global emergency lighting market include the rising number of construction projects in various countries. Modern technological advancements in the lighting industry are also supporting the growth of the global emergency lighting market. Governments of various countries are looking forward to building world-class infrastructure in their respective countries in order to attract investors. Keeping this mind many countries have announced the building of various smart cities and numerous smart projects. These projects are supposed to have emergency lighting systems incorporated in them. This rush to attract investors is also one of the prime factors that are influencing the growth of the global emergency lighting market.
Also, as a result of rapid urbanization in various countries and improved living standards of the people is yet again driving the growth of global emergency lighting market in the forecast period of 2018 to 2026.
Global Emergency Lighting Market: Regional Analysis
Globally, the emergency lighting market has its presence in various regions. However, Asia Pacific shall be experiencing maximum growth of the market. The growth is attributed to various factors such as multiple government projects in order to attract more investor to invest in the country. These projects have emergency lightings as one of the key parameters to ensure that they are aligned with the new smart city program of the government. It is because of these smart cities project in the various countries of Asia Pacific region, the emergency lighting market is experiencing tremendous growth in the forecast period. Rapid urbanization in countries like India, China, South Korea, and Japan the emergency market growth is boosted at a large scale in the region.