Emergency Exit Signs Market Segmentation, Industry Outlook and Forecasts
23 May 2019, The global emergency
exit signs market is anticipated to display a significant rise in the
CAGR by 2028. An emergency exit sign gives the necessary guidance in the event
of an urgent evacuation. These sign boards are clearly marked to prevent
confusion and injury within a public facility such as aircraft, buildings,
banks, etc.
Strict fire and safety regulations are stimulating the market’s growth.
However, high installation and maintenance costs are adversely influencing the
progress of emergency exit signs market. Lack of design uniformity and
standardization in emergency lightning is further hampering the market’s
growth. The adoption of green and red exit sigh boards has emerged as a major
development, which has further enhanced the safe evacuation at the time of
blackouts or electric supply failure. The use of nickel metal hydride (NiMH)
batteries has potentially emerged as a major technological trend. The growing
awareness related to evacuation safety has propelled the incorporation of
emergency exit signs in public places like corporate offices, shopping malls,
aerospace systems, healthcare cents, academic institutions, and industrial
building.
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Based on the product, the market has been segmented into
Electrical Exit Sign and Non-electrical Exit Sign. The electrical exit sign is
high-grade acrylic panels that effortlessly attaches itself to the ceiling or a
wall. These are visually appealing and easy to install. The LED exit sign
boards are a premier choice for indoor applications like shopping malls and
hospitals. The non-electrical sign boards come in sealed fiberglass and can
withstand extreme climatic conditions like snow, sleet, and rain. Therefore,
they have become an attractive option for outdoor applications.
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| Emergency Exit Signs Market |
Based on geography, the emergency exit sign market has
been segmented into North America, the Asia Pacific, the Middle East, and
Africa and Latin America. North America is anticipated to hold the largest
market share due to the government’s stringent fire codes and safety
regulations. Emergency lights and power-free photoluminescent exit signs have
gained enormous popularity in North America.
The global market is characterized by the presence of
major international players and emerging domestic entrants. Some of the key
competitors or manufacturers capitalizing in the Emergency Exit Signs market
are Thomas & Betts, Phillips, Schneider Electric, NVC, Mule Lighting,
Jiangmen Minhua, Eaton, Hubbell, Ventilux, Maxspid, Mackwell, Acuity Brands,
Beghelli, Isolite, Legrand, LINERGY, and Zhongshan AKT among others. Schneider
Electric is a French multinational corporation that manufactures an array of
emergency exit signs. The Maxi Slim has been specially designed to outfit the
main needs of large public areas such as airports, train station, huge
buildings, etc.
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