EMERGENCY LIGHTING BATTERY MARKET ANALYSIS

Regional Analysis

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa

Figure 1: Global Emergency Lighting Battery Market Share (%), By Region, 2021

North America held a dominant position in the Global Emergency Lighting Battery Market in 2021, followed by Europe.

North America dominated the global emergency lighting battery market in 2021, due to the fast increasing construction of commercial as well as residential buildings in the U.S., as the U.S. government focus on energy efficiency lighting in buildings. In addition the implemented strict safety norms referring to installation of emergency lights in commercial buildings in the U.S.  Therefore, these factors are expected to drive the market growth for emergency lighting battery in North America.

Asia Pacific emergency lighting battery market is expected to witness highest CAGR over forecast period from 2022 to 2030. The emergency lighting battery market for Asia Pacific is forecasted to hold 21.9% share in the global market by 2030. The growth in this region is attributed to increasing population, which is propelling demand for construction projects in this region.

According to Worldometers, the population of Asia was 4,542 million as of June 8, 2018, which is equivalent to 59.66% of the total world population. India and China are densely populated countries in this region. For instance, as of June 8, 2018, the population of India was 1,353 million which increased from 1,339 million estimated by the end of 2017. India marked second position in the list of countries by population, worldwide. Hence, increasing population and increasing purchasing power are expected to drive growth of construction and real estate sector. According to India Brand Equity Foundation (IBEF), the Indian real estate market is expected to reach US$ 180 billion by 2020. Housing sector is expected to contribute around 11% to India’s GDP by 2020. Hence, the economic expansion of India is expected to boost growth of residential, commercial, and industrial sector.

For instance, in 2015, 100 smart city mission was launched by the Government of India to develop 100 smart cities across the country. Therefore, rising population and increasing construction industry projects will proportionally increase emergency lighting batteries demand in this region.