Emergency lights and exit signs are extensively used in building and transport infrastructure. Growth of the construction sector, coupled with the increasing focus on building safety codes, is anticipated to create lucrative market opportunities in the coming years. According to the U.S. Bureau of Labor Statistics, the construction sector is expected to be one of the fastest growing industries by 2020, with an anticipated growth rate of 4.5% in the next few years. Increasing consumer spending, coupled with government investments in retail, tourism, and office buildings, has been driving demand in the commercial infrastructure space.
A survey conducted by the European Commission found that more than half emergency lighting fixtures fail in case of any incident. Lack of periodic maintenance of these lights following the refurbishment of internal building structure are the major factors amounting to these failures. Thus, servicing and regular maintenance of emergency lighting systems must be done at regular intervals to ensure fully operational conditions.
The global emergency lighting market can be segmented by type, application, and region.
On the basis of type, the emergency lighting market can be segmented into emergency lights & electrical exit signals, non-electrical exit signals, general emergency lighting. Power failures, specifically in developing countries, owing to inadequate maintenance, weather conditions, and natural disasters, are also contributing to the growth of the emergency light market.
Based on application, the emergency lighting market can be segmented into residential, industrial, and others. Energy efficiency, low maintenance, and durability drive the adoption of emergency lighting in various applications, thereby propelling market growth. Emergency lighting is used in many commercial and industrial lighting applications, as well as in residential infrastructure such as apartment buildings and assisted living facilities.
Geographically, the global emergency lighting market has been segmented into North America, Europe, Asia Pacific, and Latin America, the Middle East and Africa (LAMEA).
Increasing adoption of emergency lighting in the residential sector, coupled with the implementation of supportive standards and regulations, is mainly propelling market growth in North America and Europe. Moreover, the massive inflow of migrants in Western European countries such as Germany, the Netherlands, and Nordic countries such as Finland, Norway, and Sweden is expected to positively influence the residential housing sector.
Substantial growth in the construction sector, owing to rapid industrialization and urbanization has been observed in Asia Pacific, which in turn is expected to contribute to market growth. Moreover, South Asian regions such as India, and Afghanistan have abundant natural resources. Despite this, countries have been facing power outage issues, owing to rapid industrialization, which puts excessive load on the existing power infrastructure. This trend is mainly elevating the need for emergency lighting in both commercial and residential sectors.
Favorable policies adopted by governments to ensure fire safety have been facilitating market growth. For instance, in December 2016, Dubai Municipality announced plans to set up its own laboratory, specifically to boost fire safety in UAE buildings.
Some of the prominent players in the emergency lighting market are Signify Holding (The Netherlands), Schneider Electric SA (France), Eaton Corporation Plc (Ireland), Thomas & Betts Corporation (U.S.) and others.