The global LED emergency lighting market is expected to be valued USD 4.23 Billion by 2027 from USD 2.60 Billion in 2019, registering a CAGR of 6.7% through forecast period. This growth is attributable to the increasing demand for merging emergency lighting with aesthetic lighting. Additionally, the LED emergency lighting market is projected to expand rapidly during the forecast period owing to the rising demand for effective emergency lightning.
However, high costs of emergency lighting solutions and its installations is restraining growth of the global LED emergency lighting market. Nonetheless, rising adoption of energy efficient lights is estimated to offer opportunities for growth of the LED emergency lighting market in the coming future.
Key Highlights from Report
- The surface mount sub-segment is estimated to dominate the LED emergency lighting market is estimated to expand at a CAGR of 6.9% during the forecast period. This growth is attributable to the excellent properties such as smaller size, heat dissipation, less lumen depreciation, greater lumen performance, and prolonged lifespan.
- Owing to robust usage of emergency lighting solutions especially across the commercial industry, the commercial segment is estimated to retain its dominance over the forecast period. Additionally, the case of power shortfalls and state requirements for emergency lighting to keeps lights in the direct exit routes to stairwells during an emergency is estimated to contribute in the growth of market in the coming future.
- Regionally, the North American region is estimated to retain its dominance in the coming years in terms of the market revenue. This growth is attributable to factors, such as governments adopting energy efficient lighting, increased residential and commercial construction, and strict safety regulations for encouraging adoption of LED emergency lighting in the constructions in the region.
- Key participants in the LED emergency lighting market include NVC Lighting Ltd., ams AG, Acuity Brands, Inc., Koninklijke Philips N.V., IOTA Engineering, L.L.C., Osram Licht AG, Digital Lumens, Inc., Legrand S.A., Fulham Co., Inc., and Hubbell Incorporated.
Emergen Research has segmented the Global LED Emergency Lighting Market on the basis of technology, power source, end-use, and region:
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Surface Mount
- Chips on Board
- Power Source Outlook (Revenue, USD Billion; 2017-2027)
- End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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