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.

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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, leading to introduction of smart and intelligent lighting systems. Intelligent lighting systems can be of two types such as sensor incorporated and non-sensor incorporated. Sensor incorporated lighting systems are able to change the brightness of lights automatically by detecting people and daylight. However, non-sensor incorporated lighting systems are regarded as smart lighting systems, as they can be operated through programming.

The market in Asia Pacific is projected to witness highest CAGR over the forecast period (2018 – 2026), owing to increasing infrastructural developments across the emerging economies in Asia Pacific such as India, Malaysia, and Indonesia. The market for Asia-Pacific is expected to account 21.9% share of the global emergency lighting battery market by 2026. Moreover, proliferating smart city projects, government initiatives regarding provision of residence to the middle and lower economic class population, and the requirement to enhance transport are projected to present strong growth prospects for construction industry.

Major players operating in the global emergency lighting battery market include Philips Lighting Holding B.V., Hubbell Lighting, Inc., Cooper Industries, Schneider Electric SE, Emerson, Legrand S.A., Acuity Brands, Beghelli S. P. A., Daisalux, Zumtobel Group, and Osram Licht AG.