Falling Prices of LEDs Driving Emergency Lighting Market Growth

The global emergency lighting market reached a value of $5,386.0 million in 2020, and it is expected to attain a revenue of $9,993.4 million by 2030. According to the estimates of P&S Intelligence, a market research company based in India, the market will exhibit a CAGR of 6.4% from 2021 to 2030 (forecast period). 

The market is being driven by the surging number of construction projects, falling prices of LED lights, rapid technological innovations in the lighting industry, and increasing implementation of government initiatives aimed at promoting the use of energy-efficient lighting solutions across the world. In recent years, the prices of LEDs have plunged sharply. 

This has consequently pushed up the use of these lights in several application areas, such as residential, commercial, and industries. Moreover, the companies manufacturing lighting products have focused on broadening their portfolio of LED emergency lights in recent years, owing to the mushrooming need for LEDs, due to their high energy-efficiency. Additionally, these companies are making huge investments in research and development (R&D) projects in order to improve the lifespan and performance of their products.


 The adoption of LEDs in red and green exit signs is one such major technological advancement in the emergency lighting market. These lights are more cost-effective and exhibit greater energy-efficiency than conventional lighting sources. With the growing use of emergency red and green exit signs in various residential areas, companies are increasingly focusing on expanding their product portfolios. 

Depending on power system, the market is segmented into central, hybrid, and self-contained categories, out of which, the self-contained category held the largest market share in 2020, and it is predicted to retain its dominance throughout the forecast period as well. Thus, the demand for emergency lighting solutions will shoot up in the coming years, mainly because of the plunging prices of LED lights, surging number of construction and infrastructure development projects, and soaring need for energy-efficient lighting systems across the world.

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