Emergency Lighting Battery Market by Applications,
Region, Type and Top Players Analysis
Emergency Lighting Battery Market research provides industry
analysis by type, manufacturer, application along with key factors
influencing the growth of the market which include growth drivers,
restraints, opportunities and challenges, strategically profile key
players and comprehensively analyze their market share and core
competencies.
The Emergency Lighting Battery Market was valued at US$ 1,107.4 Mn in 2017, and is
expected to increase to US$ 3,107.8 Mn by 2026 registering a CAGR of 12.1% over the forecast
period from 2018 to 2026. Proliferation of smart cities and connected infrastructure are expected
to propel growth of the emergency lighting battery market through 2026. According to United
Nations’ press release in July 2014, around 54% of the global population lived in the urban areas,
which is expected to account for overall 66% by 2050.
Rapid urbanization across all the major global economies, specifically in the BRIC
countries is expected to drive demand for better infrastructure. Moreover, increasing
population and government initiatives for smart city infrastructures are expected to fuel
market growth. According to the white paper report by Technology that was sponsored by
the United Parcel Services and Consumer Technology Association, the worldwide smart
city initiatives rose to over 235 in 2016, an estimated surge of over 38% in comparison
to 2013. Proliferation of such infrastructural activities are expected to support growth of
the emergency lighting battery market.
On the basis of lighting source segment, LED lights are expected to account for the
largest market share by 2026. Technological advancement in lighting industry coupled
with rampant product invention is gaining traction. This is due to drastic transformation
in semiconductor industry and evolution of light bulbs from incandescent bulbs to LEDs,