June 13, 2023 11:20 ET | Source: Straits Research Straits Research
New York, United States, June 13, 2023 (GLOBE NEWSWIRE) -- Emergency lighting is a kind of lighting that turns on automatically in the absence of electricity or whenever standard lighting stops working. Nowadays, emergency lighting is incorporated during construction in the majority of structures. Throughout the forecast period, the market for emergency lighting is anticipated to develop due to the easier accessibility of affordable and aesthetic lights. Additionally, it is projected that the demand for emergency lighting will expand due to the fast-paced technological developments in the lighting sector and the integration of emergency lighting with aesthetic lighting. In addition, it is anticipated that the rapid urbanization occurring in many nations and the rising standard of living of the people would greatly increase the need for emergency lighting and accelerate the expansion of the emergency lighting market. Emergency Exit Light
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Safety Regulations Drive the Global Market
There are more safety concerns as a result of expanding urbanization around the world. When a segment of the audience is unfamiliar with the layout and procedures, the problem is made worse. This is more relevant in big, crowded, risky, or complicated places like train stations, malls, airports, stadiums, governmental structures, or recreational facilities, as well as in smaller, simpler places. As a result, stringent standards and fire safety laws have been implemented expressly for buildings. Buildings should be built in such a way that there are suitable arrangements for a fire early warning and suitable ways for leaving the building in case of a fire and finding safety outside the structure. For instance, various regulatory agencies govern the emergency lighting and exit sign requirements, such as Occupational Safety & Health Administration and National Fire Protection Association. Rules and regulations set by these agencies and local authorities should be followed during the construction of buildings.
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North America is expected to witness significant growth in the emergency lighting market. The market is expanding mostly due to increased consumer awareness of the advantages of employing emergency lights in a disaster. The market for emergency lights and exit signs is expanding as a result of the government's favorable rules and regulations on outdoor lighting. For instance: The National Fire Protection Association in the United States largely oversees the fire safety of commercial and large residential structures. The law requires emergency lighting and exit signage in both private and public infrastructure across the country. Canada boasts one of the greatest economies and is one of the richest nations on earth. Construction is the main sector of its economy. In the last ten years, big cities like Toronto, Vancouver, and Calgary have completed about 50 towers, which is a significant growth in building and infrastructure. The market under study has attractive potential due to the expansion of the construction industry.
Europe is one of the prominent regions in the global emergency lighting and exit sign market Due to the rising demand in the residential market. There have been increasing concerns about safety as this region's nations have all undergone major urbanization. Germany dominates the European market. The Confederation of Fire Protection Association Europe (CFPAE) states that illumination used for emergency lighting should have a luminous intensity of at least 1 lux on floor surfaces. In the future, there are expected to be abundant market prospects due to the expansion of the construction industry, particularly in nations like Spain, the U.K., and Germany.
The Asia-Pacific region's market expansion is attributable to the region's growing construction projects. The expansion of the construction industry is primarily driven by this population growth as well as rising purchasing power. Additionally, the market has been growing as a result of an increase in government programs to promote the use of LED lighting, particularly in Japan, India, and the Philippines. The Asia-Pacific emergency lighting market is also driven by rising infrastructure spending in China and India. Rising safety concerns, which also encourage innovation in more sophisticated technologies like flame-proof requirements and LED bulbs' efficient energy use, are what is driving the emergency lighting market in India. As building and development activity in hotels, theatres, airports, and office complexes soars, demand is expected to rise.
Nations in the Middle East, especially the United Arab Emirates and Saudi Arabia, are primarily regarded as hubs for commercial, industrial, and residential developments. All the growing economic activity is expected to contribute to market expansion. The goal of the South American government is to make the tourism sector more sustainable, with a particular emphasis on developing the area as a hub for wellness and medical travel. With about 9,000 lodgings under development, Brazil was the leading country in Central and South America for resort and hotel buildings. The profit potential for the market for emergency lights is presented by this scenario.
Key companies profiled in the report include
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Global Emergency Lighting Market: Segmentation
Table of Content and Figure @ https://straitsresearch.com/report/emergency-lighting-market/toc
Global LED Lighting Market Grows at a Staggering CAGR of 13.4%
Global Intelligent Lighting Controls Market to Grow at a CAGR of 17.6% by 2030
Global Residential Lighting Fixtures Market Ascends at a Healthy CAGR of 5.60%
Global LED Lighting Market Grows at a Staggering CAGR of 13.4%
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