Vancouver, Nov. 16, 2023 (GLOBE NEWSWIRE) -- The global LED Emergency Lighting Market is forecasted to be worth USD 5.85 Billion by 2032, according to a current analysis by Emergen Research. Due to increasing technological developments in lighting solutions, the LED emergency lighting market is anticipated to grow significantly. Besides, the growing number of construction projects will further fuel the market growth during the forecast timeline. The rising implementation of smart cities and smart grids is expected to augment market growth shortly. Governments in different nations plan to develop world-class infrastructure to bring investors in their regions. Several nations also declared the construction of several smart cities and several smart projects in this context. Such programs must provide emergency lighting solutions.
However, issues concerning the design that would hinder the visual appeal of buildings are anticipated to impede the market growth during the forecast period.
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Segments Covered in the report
| Report Details | Outcome |
| The market size value in 2019 | USD 2.60 Billion |
| CAGR (2023 - 2032) | 6.7% |
| The revenue forecast in 2032 | USD 5.85 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019 - 2021 |
| Forecast period | 2023 - 2032 |
| Quantitative units | Volume in Tons, Revenue in USD Thousand, and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Technology, Power Source, End-Use, and Region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; BENELUX; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | ams AG, NVC Lighting Ltd., Acuity Brands, Inc., IOTA Engineering, L.L.C., Koninklijke Philips N.V., Osram Licht AG, Legrand S.A., Digital Lumens, Inc., Hubbell Incorporated, and Fulham Co., Inc., among others |
| Customization scope | 10 hrs of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The market for LED Emergency Lighting is fragmented, with a significant number of large and medium-sized players, which account for a significant global share of the market. The key players of the market are well-equipped with significant manufacturing resources and are also engaged in various research and development activities. Some of the top players in the LED Emergency Lighting market comprise:
-
- ams AG
- NVC Lighting Ltd.
- Acuity Brands, Inc.
- IOTA Engineering, L.L.C.
- Koninklijke Philips N.V.
- Osram Licht AG
- Legrand S.A.
- Digital Lumens, Inc.
- Hubbell Incorporated
- Fulham Co., Inc.
Strategic Development
- In November 2019, LocusLabs, Inc. acquired by Acuity Brands, Inc. The incorporation of LocusLabs technologies with Acuity Brands' Atrius IoT solution will provide locations with an embedded system that can be quickly installed and conveniently managed, allowing wayfinding, asset monitoring, and business analytics for visitors and employees.
- In February 2019, Osram Licht AG acquired Ring Automotive Limited. Osram will expand its aftermarket business by acquiring Ring Automotive Ltd. and offering customers exposure to a wider complementary variety of products.
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Key Highlights From The Report
- In October 2020, Osram Licht AG introduced the first LED retrofit headlight. Osram is the first company to sell the certified LED-based automotive retrofit lamps in the German market. Since there have been no legal LED alternative lamps for headlight applications so far, this innovation is a total novelty. With the LED lamps, drivers can legally, conveniently update their halogen lighting to the new state-of-the-art products.
- The Chips in the Board segment is expected to maintain steady market growth over its projected timeframe due to a greater focus on light and enhanced lumen density.
- With the increasing concerns over renewable energy and the growing acceptance of solar energy solutions, the solar segment is expected to witness substantial growth over the forecast period.
- The residential segment is forecast to expand substantially over the projected period. Development of residential buildings attributed to the substantial and sustained economic growth of emerging economies, also with growing populations and rapid urbanization. There is a need for emergency lighting has been raised in the residential segment.
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Emergen Research has segmented the global LED Emergency Lighting Market on the basis of technology, power sources, end-use, and region:
- Technology Outlook (Revenue, USD Billion; 2019-2032)
- Surface Mount
- Chips on Board
- Power Source Outlook (Revenue, USD Billion; 2019-2032)
- Rechargeable
- Solar
- Battery
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Cinema
- Commercial
- School
- Residential
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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