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.
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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