What is Global Emergency Light Battery Market?
The Global Emergency Light Battery Market is a vast and dynamic sector that focuses on the production and distribution of batteries specifically designed for emergency lighting systems. These batteries are crucial in ensuring the functionality of emergency lights during power outages, natural disasters, and other situations where normal lighting fails. The market encompasses a variety of battery types, including NiCd, NiMH, Li-ion, and Lead-acid batteries, each with its own unique features and applications. The value of this market was estimated at US$ 1253 million in 2023, and it is projected to reach US$ 2304.8 million by 2030, growing at a CAGR of 9.1% during the forecast period 2024-2030.
NiCd battery, NiMH battery, Li-ion battery, Lead-acid battery in the Global Emergency Light Battery Market:
NiCd, NiMH, Li-ion, and Lead-acid batteries each play a significant role in the Global Emergency Light Battery Market. NiCd or Nickel-Cadmium batteries are known for their long life and high discharge rate, making them ideal for emergency light systems that require reliable and consistent power. NiMH or Nickel-Metal Hydride batteries, on the other hand, offer a higher energy density and are more environmentally friendly than NiCd batteries. Li-ion or Lithium-ion batteries are popular for their lightweight, high energy density, and low self-discharge rate. Lastly, Lead-acid batteries are cost-effective and capable of delivering high surge currents, making them suitable for emergency lighting systems. The choice of battery depends on the specific requirements of the emergency lighting system.
LED, Incandescent, Others in the Global Emergency Light Battery Market:
The Global Emergency Light Battery Market caters to various lighting technologies, including LED, Incandescent, and others. LED or Light Emitting Diode technology is energy-efficient and durable, making it a popular choice for emergency lighting systems. Incandescent lights, although less energy-efficient than LEDs, are often used in emergency lighting due to their simplicity and low cost. Other lighting technologies, such as fluorescent and halogen lights, also utilize batteries from this market. The type of lighting technology used largely depends on the specific needs and constraints of the emergency lighting system.
Global Emergency Light Battery Market Outlook:
Looking at the market outlook, the Global Emergency Light Battery Market is on a promising growth trajectory. In 2023, the market was valued at US$ 1253 million. However, it's not just about where the market has been, but where it's headed. By 2030, the market is expected to nearly double, reaching an estimated value of US$ 2304.8 million. This represents a Compound Annual Growth Rate (CAGR) of 9.1% during the forecast period from 2024 to 2030. This growth is driven by increasing demand for reliable emergency lighting systems across various sectors, including residential, commercial, and industrial.
| Report Metric | Details |
| Report Name | Emergency Light Battery Market |
| Accounted market size in 2023 | US$ 1253 million |
| Forecasted market size in 2030 | US$ 2304.8 million |
| CAGR | 9.1% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Philips Lighting Holding B.V., Hubbell Lighting, Cooper Industries, Schneider Electric SE, Emerson, Legrand S.A., Acuity Brands, Beghelli S. P. A., Daisalux, Zumtobel Group, Osram Licht AG, Guangdong Superpack Technology |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
