Global Emergency Lights Market 2016-2020
About Emergency Lights
Emergency lights are used to safely evacuate people from hazardous situations and provide sufficient light to continue tasks in case of power failure. Emergency lights are classified into two categories: escape lighting and standby lighting. Emergency lights are essential in public places so that people can be evacuated safely at times of emergency without panic. So, clear and visible sign boards in prescribed size and color are positioned at exits. Commercial buildings, theaters, educational institutions, residential buildings, healthcare centers, industrial buildings, and manufacturing plants are required to be equipped with emergency lights.
Technavio’s analysts forecast the global emergency lights market to grow at a CAGR of 7.79% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global emergency lights market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of emergency lights by manufacturers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Emergency Lights Market 2016-2020
Technavio recognizes the following companies as the key players in the global emergency lights market: ABB, Acuity Brands, Beghelli, Daisalux, Legrand, R. STAHL, and WISKA.
Other prominent vendors in the market are: Airfal, Big Beam Emergency Systems, Clevertronics, Emergency Lighting Products, Ektor, Fulham, Havells Sylvania, Illuminex, Linergy, Mule Lighting, NVC Lighting, Osram, Ventilux, Teknoware, Thorlux lighting, and Zumtobel.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is inclination toward design-driven emergency lights. Manufacturers and lighting designers are now emphasizing on the aesthetics of emergency lights. It plays an important role, especially in places like hotels, architectural buildings, and houses. Customers are concerned about the positions and appearance of emergency lights. Vendors are introducing aesthetically appealing emergency lights without compromising safety. Manufacturers also offer customized products for customers and government agencies to develop emergency lights according to their requirements.”
According to the report, one of the primary drivers in the market is increasing safety regulations. Since the majority of daily activities of the population depends on the availability of electricity, any fluctuation in power will directly result in loss of money and time.. Increasing safety regulations by governments across the world have driven the growth of the global emergency lights market as most new buildings are required to install emergency lights. Construction companies follow the rules set up by the local or regional authorities by installing emergency lights at the time of construction.
Further, the report states that one major challenge in the market is low awareness in developing countries. In developing countries like India, consumers opt for cost-effective alternatives to emergency lights such as portable emergency lights or UPS. However, emergency lights offer better advantages in the event of fires, UPS failure, or natural disasters. There is a need to raise awareness about the benefits of emergency lights over other solutions in developing countries. The awareness about the need to do regular maintenance of emergency lights to ensure proper functioning is also low in most developing countries. To overcome this challenge, an increasing number of manufacturers are focusing on creating awareness about the use of the right kind of emergency lights for specific purposes.
ABB, Acuity Brands, Beghelli, Daisalux, Legrand, R. STAHL, WISKA, Airfal, Big Beam Emergency Systems, Clevertronics, Emergency Lighting Products, Ektor, Fulham, Havells Sylvania, Illuminex, Linergy, Mule Lighting, NVC Lighting, Osram, Ventilux, Teknoware, Thorlux lighting, Zumtobel.