Global Emergency Lighting Market to Reach $7.3 Billion by 2026

Amid the COVID-19 crisis, the global market for Emergency Lighting estimated at US$5.4 Billion in the year 2022, is projected to reach a revised size of US$7.3 Billion by 2026, growing at a CAGR of 6.5% over the analysis period.

Lithium-Ion, one of the segments analyzed in the report, is projected to grow at a 7.9% CAGR to reach US$3.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ni-Mh segment is readjusted to a revised 5.8% CAGR for the next 7-year period.

This segment currently accounts for a 24.6% share of the global Emergency Lighting market. Demand for lithium-ion battery-based emergency lighting systems is being driven by sustained decline in the prices of Li-ion batteries and advancements in lithium ion technology.

The Emergency Lighting market in the U.S. is estimated at US$1.6 Billion in the year 2022. The country currently accounts for a 30.67% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.2 Billion in the year 2026 trailing a CAGR of 8.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.1% and 5.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6% CAGR while Rest of European market (as defined in the study) will reach US$1.3 Billion by the end of the analysis period.

The primary factor driving the dominance of the North American market is the sustained increase in the use of emergency lighting systems in residential, industrial and commercial constructions. Spurred by high consumer awareness about the benefits that emergency lighting systems offers over other alternatives, including UPS, during emergency situations, the region is projected to retain its dominance. Growth within the Asia-Pacific region will continue to be propelled by sustained rapid pace of urbanization being witnessed in developing countries such as China and India, which is resulting in the region experiencing a higher demand for infrastructure, including emergency lighting systems.