The burgeoning number of construction projects is the biggest market driver. With the increasing concerns being raised over tenant and employee safety, emergency lights are being installed in almost all new industrial, residential, commercial, and government buildings. In this regard, the rampant urbanization and construction of houses, office buildings, hospitals, universities, restaurants, shopping complexes, hotels, and factories are helping market players gather high revenue.
For instance, these lights will be procured in monumental numbers for the 100 smart cities being developed in India. Another key growth driver for the emergency lighting market are the government regulations mandating their installation. In closed buildings, anything can go wrong anytime, for instance, due to a major power cut, short circuit, fire, natural disasters, and bombing and other acts of violence.
Moreover, if not constructed properly, buildings could fall, trapping people inside. The increasing concerns in this regard have impelled governments to mandate the installation of emergency lights so that the people inside can have a properly illuminated exit path. Presently, North America is the largest emergency lighting market because the laws mandating their installation in all sorts of buildings are rather stringent here.
Some of these regulations are Occupational Safety and Health Administration (OSHA) Code of Federal Regulations, NFPA 101 – Life Safety Code, NFPA 70 – National Electric Code, International Fire Code, Standard Fire Prevention Code 1999, and NFPA 1997 5–9.3. APAC will witness the fastest growth in the installation of such fixtures till 2030 due to the increasing preference for smart homes and the adoption of LEDs.
Hence, the market will continue to grow with the surging focus on safety inside buildings. This market research report provides a comprehensive overview of the market
For instance, these lights will be procured in monumental numbers for the 100 smart cities being developed in India. Another key growth driver for the emergency lighting market are the government regulations mandating their installation. In closed buildings, anything can go wrong anytime, for instance, due to a major power cut, short circuit, fire, natural disasters, and bombing and other acts of violence.
Moreover, if not constructed properly, buildings could fall, trapping people inside. The increasing concerns in this regard have impelled governments to mandate the installation of emergency lights so that the people inside can have a properly illuminated exit path. Presently, North America is the largest emergency lighting market because the laws mandating their installation in all sorts of buildings are rather stringent here.
Some of these regulations are Occupational Safety and Health Administration (OSHA) Code of Federal Regulations, NFPA 101 – Life Safety Code, NFPA 70 – National Electric Code, International Fire Code, Standard Fire Prevention Code 1999, and NFPA 1997 5–9.3. APAC will witness the fastest growth in the installation of such fixtures till 2030 due to the increasing preference for smart homes and the adoption of LEDs.
Hence, the market will continue to grow with the surging focus on safety inside buildings. This market research report provides a comprehensive overview of the market
- The Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
Comments
Post a Comment