LED Emergency Driver Market is projected to grow at a CAGR of 6.3% by 2030

Description

According to the Market Statsville Group (MSG), the global LED Emergency Driver Market is projected to grow at a CAGR of 6.3% from 2022 to 2030. The LED drivers are designed for indoor and outdoor egress, damp, cold temperatures, step lights, downlights, and Class 2 installations. It provides both AC and emergency operations. It ensures that the lighting is provided consistently and automatically for a sufficient amount of time during a power outage or certain emergencies that enable the people trapped in such blackout situations to evacuate safely. Emergency LED drivers allow LED fixtures to serve as emergency lighting. The exponential demand for energy-efficient lighting systems from residential, commercial, and industrial sectors is driving the growth of low-power consumption bulbs in the emergency lighting system.

COVID-19 Impact on the Global LED Emergency Driver Market

The COVID-19 pandemic has affected every industry globally in 2020. As a result of this pandemic, COVID has significantly impacted the global supply chain. China is a hub for the production of raw materials. However, the spread of the pandemic in China has impacted export activities. The lockdowns initiated by the governments of most countries have adversely affected manufacturing activities and the demand for semiconductor devices, which, in turn, is hindering the growth of the LED driver market.

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Scope of the Global LED Emergency Driver Market

The study categorizes the LED emergency driver market based on product, end-use and application, at the regional and global levels.

By Product (Revenue, USD Million, 2017-2030)

• External DC fuse
• No-external DC fuse

By End-Use (Revenue, USD Million, 2017-2030)

• Residential
• Industrial
• Commercial

By Application (Revenue, USD Million, 2017-2030)

• Linear Indoor Fixtures
• High Bay Fixtures
• Recessed Downlight Fixtures
• Others

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By Region Outlook (Revenue, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • Slovenia
  • Slovakia
  • the Netherlands
  • Belgium
  • Norway
  • Denmark
  • Czech Republic
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • The Philippines
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The Industrial LED, emergency driver systems segment, is witnessed to account for the highest market share by End-use

In 2021, The growing number of construction projects worldwide was promoting the growth prospect for emergency lighting. Owing to the natural light does not maintain a sufficient lighting level. For instance, basements, internal passageways, or shading from nearby buildings. Suppose any work area, including under temporary support structures, for instance, formwork decks, is not sufficiently lit by emergency lighting. In that case, additional emergency lighting should be installed to light the work area to allow a safe exit.

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Asia-Pacific accounts for the highest CAGR during the forecast period

Globally, Asia-Pacific is estimated to hold the highest CAGR in the LED emergency driver market due to the governments in the region actively promoting the adoption of emergency lighting. Further, China is the hub of raw materials and suppliers of LEDs, creating a lucrative growth opportunity for the market.

Key Market Players in the Global LED Emergency Driver Market

• Dengfeng Ltd
• KinaLED
• Assurance Emergency Lighting
• Bodine
• McWong International
• Jialinghang Electronic
• IOTA Engineering
• AC Electronics
• Shenzhen ATA Technologl
• Shenzhen KVD Technology
• Philips
• Fulham
• Hatch Lighting

Article source: https://article-realm.com/article/Finance/22592-LED-Emergency-Driver-Market-is-projected-to-grow-at-a-CAGR-of-6-3-by-2030.html