The Asia-Pacific (APAC) emergency lighting market is expected to reach $2.1 billion by 2024, registering a CAGR of 10.1%, during the forecast period. The growth in the market can be attributed to the growing adoption of energy efficient light-emitting diode (LED) lights across the APAC region.
Increasing spend on infrastructure in APAC countries mainly in China and India is supporting the growth of the Asia-Pacific emergency lighting market. In China, there are several ongoing infrastructural projects, with major contributions from transportation sector.
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Based on power system, the Asia-Pacific emergency lighting market is categorized into self-contained, central, and hybrid. Among these, the market for central power system is expected to register the fastest CAGR during 2019–2024, in terms of value.
In terms of light source, the Asia-Pacific emergency lighting market is classified into LED, fluorescent, induction, incandescent, and others, wherein others category includes high intensity discharge (HID), cold cathode, and halogen lamps.
The Asia-Pacific emergency lighting market is moderately competitive. In the recent past, product launches have been the major activities in the market in APAC. Companies like Larson Electronics LLC., and Syska LED Lights Pvt. Ltd. have been observed as the forerunner in strategic developments.
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Some of the other key players operating in the Asia-Pacific emergency lighting market include PNE Industries Ltd., Zumtobel Group AG, Beghelli S.p.A, Kejie Electronic Co. Ltd., Osram Licht AG, Eaton Corporation plc, and Schneider Electric SE.
This post was originally published on Financial Sector