DUBLIN--(BUSINESS WIRE)--The "Asia-Pacific Emergency Lighting Market by Offering, by Power System, by Battery Type, by Light Source, by Application, by Country Market Size, Share, Development, Growth, and Demand Forecast, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
The growth in the APAC emergency lighting market can be ascribed to the increasing adoption of energy-efficient light emitting diode (LED) lights across the region, according to this research. The market is predicted to reach $2.1 billion by 2024, progressing at a CAGR of 10.1% during the forecast period (2019-2024).
On the basis of power system, the emergency lighting market in APAC is divided into hybrid, central, and self-contained. Out of these, during 2019-2024, the central power system division is anticipated to register the fastest growth in the market in terms of revenue. This is mainly due to the longer battery life and easy battery swapping in central power systems as compare to self-contained systems.
Now, based on light source, the APAC emergency lighting market is categorized into incandescent, fluorescent, LED, induction, and others, where the others' category includes cold cathode, high intensity discharge (HID), and halogen lamps. Among these, in 2018, the LED light category held the largest revenue share in the market, and during the forecast period, it is predicted to register the fastest CAGR. This is ascribed to the rising number of government initiatives to encourage people to adopt LED lights, particularly in Japan, India, and Philippines. For instance, in 2015, the government of India initiated the national LED program, UJALA, to increase the usage of LEDs for street and home lighting.
Further, the rising spending on the infrastructure sector in India and China is strengthening the Asia-Pacific emergency lighting market. In China, there are various infrastructural projects that are ongoing, with the majority in the transportation sector. For instance, in October 2017, China inaugurated the world's longest sea bridge joining China to Macau and Hong Kong, which cost nearly $20 billion.
Earlier, in 2015, the Indian government launched the Smart Cities Mission to build 100 cities with all modern facilities. Furthermore, in 2017, India hosted the FIFA U-17 World Cup, which fueled the demand for infrastructure in the country. Moreover, sports events, such as Winter Olympics, ICC Cricket World Cup, Asian Games, Summer Olympics, and Hockey World Cup will be organized in the APAC region in the coming years. This has already begun driving the growth of the Asia-Pacific emergency lighting market.
Moderate competition characterizes the market for emergency lighting in the region. Companies such as Syska LED Lights Pvt. Ltd. and Larson Electronics LLC. have been considered the frontrunners in strategic developments. These companies are majorly participating in the improvement of their product portfolios and expansion of their businesses in the region. Some of the other APAC emergency lighting market players are Beghelli S.p.A, PNE Industries Ltd., Osram Licht AG, Zumtobel Group AG, Kejie Electronic Co. Ltd., Schneider Electric SE, and Eaton Corporation plc.
- Rising inclination toward LEDs
- Increasing adoption in aviation sector
- Growing number of construction projects
- Technological advancements in lighting industry
- High capital investment and maintenance cost
- Growing adoption of better safety standards
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Power System
1.3.2 Market Segmentation by Battery Type
1.3.3 Market Segmentation by Light Source
1.3.4 Market Segmentation by Offering
1.3.5 Market Segmentation by Application
1.3.6 Market Segmentation by Geography
1.3.7 Analysis Period
1.3.8 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
22.214.171.124 By region
126.96.36.199 By industry participant
188.8.131.52 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Power System
4.1.2 By Battery Type
4.1.3 By Light Source
4.1.4 By Offering
4.1.5 By Application
4.2 Value Chain Analysis
4.2.1 Raw Material Providers
4.2.2 Component Manufacturing & Testing
4.2.3 System Integrators
4.2.4 Distribution Channel
4.3 Market Dynamics
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Power System
5.2 By Battery Type
5.3 By Light Source
5.4 By Offering
5.5 By Application
5.6 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 List of Key Players
11.2 Product Benchmarking of Key Players
11.3 Recent Activities of Major Players
11.4 Global Strategic Developments of Key Players
11.4.1 Mergers and Acquisitions
11.4.2 Product Launches
11.4.3 Other Developments
Chapter 12. Company Profiles
12.1 Osram Licht AG
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.2 Hubbell Incorporated
12.3 Eaton Corporation PLC
12.4 Signify Holding
12.5 Syska LED Lights Pvt. Ltd.
12.6 Zumtobel Group AG
12.7 Acuity Brand Inc.
12.8 Schneider Electric SE
12.9 Legrand S.A.
12.10 Daisalux S.A.U.
12.11 North America-Based Player
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