Emergency Lighting Market to Reach $10.73 Bn, Globally, by 2030

According to a new report, the global emergency lighting industry was estimated at $5.48 billion in 2020, and is anticipated to hit $10.73 billion by 2030, registering a CAGR of 6.9% from 2021 to 2030.

Increase in government initiatives to support the adoption of energy-efficient lighting solutions, surge in number of construction projects across the world, and rise in adoption of energy efficient lighting products drive the growth of the global emergency lighting market.

By power system, the self-contained power system segment contributed to the major share in 2020, holding around two-fifths of the global emergency lighting market. The same segment would also cite the fastest CAGR of 7.8% during the forecast period. The installation cost of self-contained luminaries can be relatively cheap because there is no need for any special, fire-rated cabling, which in turn has propelled the segment growth.

By lighting type, the LED segment accounted for the major share in 2020, holding nearly half of the global emergency lighting market. The same segment is also expected to grow at the fastest CAGR of 7.8% from 2021 to 2030. This is because LEDs are commonly used in many electronic devices as indicator lamps, in automobiles as rear-window and brake lights, and in consumer electronics.