Emergency Lighting Market to Be Worth US$6.68 Billion by 2022
September 10, 2018
The emergency lighting market is expected to reach US$6.68 billion by 2022, at a CAGR of 7.83% between 2017 and 2022. The demand for emergency lighting is increasing because of several factors such as technological advancements taking place in the lighting industry, declining average selling price of LEDs, and increased infrastructure growth in various developing countries such as India, China, and South Korea.
The Markets and Markets report covers the emergency lighting market segmented on the basis of power system, battery type, light source, application, offering, and geography. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges. It also profiles the key players operating in the market.
On the basis of power system, the emergency lighting market has been segmented into self-contained power system, central power system, and hybrid systems. The market for self-contained power system is expected to grow at the highest CAGR during the forecast period. Self-contained batteries provide the required emergency lighting from a decentralized source, independent of central battery system. Therefore, it is a highly economical solution when used in extensively.
On the basis of battery type, the emergency lighting market has been segmented into Ni–Cd, Ni–MH, LiFePO4 and lead–acid. The market for LiFePO4 battery is expected to grow at the highest CAGR during the forecast period. LiFeP04 is becoming the preferred choice for emergency lighting not only because the batteries are physically smaller but also they draw far less power when they are charging.
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