Market Trends of Emergency Lighting Industry
This section covers the major market trends shaping the Emergency Lighting Market according to our research experts:
LEDs Are Expected to Witness Significant Growth
- The increasing government policies, such as ban in the usage of incandescent light, and the energy-efficient and cost-saving nature of LEDs, are increasing the penetration of LEDs. Moreover, LEDs are highly controllable, as the integrity of LEDs can vary based on the requirements when integrated with a driver.
- For instance, in April 2018, the Council of Australian Government's Energy Ministers announced to replace halogen lamps with LED lamps, to improve energy efficiency.
- Also, the Indian government's initiative of 'AHO', i.e., Automatic Headlamp On, is a safety measure used in two-wheelers where the headlights are kept on throughout the day, which makes the spotting of two-wheelers easy.
- LEDs in the industrial environment can help in saving up to 70%. As LEDs are highly controllable, the integration of LEDs with the security industry is expected to have a significant impact on the emergency lighting market.
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Asia-Pacific Region is Expected to Register a Faster Growth
- The Asia-Pacific region is expected to have the highest growth rate, over the forecast period. The governments in the Asia-pacific countries are actively promoting the adoption of emergency lighting, which is leading to the growth of the market.
- Various government flagship programs, including Housing for All, Atal Mission for Urban Rejuvenation and Transformation (AMRUT), Make in India, and Power for All, are expected to drive the growth of emergency lighting in the region.
- The rapid urbanization in developing countries, such as India, China, Japan, and South Korea, is also leading to an increase in construction. A significant infrastructure spending is witnessed in Australia, Hong Kong, the Philippines, Singapore, Taiwan, Thailand, Myanmar, and Vietnam.
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