Global Collimating Lens Market:
The global collimating lens market is expected to be valued at US$ 298.3 million in market and growing at a CAGR of 19.4 % over the forecast period by 2026. There are various factors which significantly act as drivers, such as increasing demand for high-end microscopy systems in various applications, and technological advancements in microscopes which substantially boost the global collimating lens market. The key restrain is observed as the factor that they reduce intensity by blocking incoming radiation, which is not accepted for remote sensing instruments that require high sensitivity. Increase in various application for providing high quality display with emerging market players global collimating lens mark observed a significant growth.
Increasing Demand for Various Optical Instruments
It is noticed that the global collimating lens market has a significant market growth rate on increasing demand for collimating lenses in various applications and because of the significant increasing importance of fiber optics collimating lenses. Global optical instruments and lens manufacturing market totaled $19.1 billion in 2017 and is estimated to reach $27.0 billion by 2022, growing at a compound annual growth rate (CAGR) of 7.3% Examples of optical instruments include spectrometer, microscopes, measurement displays, and others, too is making the market grow at a fantastic pace. It is available in different components; spherical lenses, achromatic lenses, aspherical lenses, Infrared lenses etc which boost the global collimating lens market.
Asia Pacific Dominates the Market Share in the Global Collimating Lens Market
Asia Pacific contributed major revenue followed by and North America and Europe. In 2019, Asia Pacific region is accounted huge growth rate and is anticipated to grow with a forecast year. Rapid development in automobile sector is the key factor which boost the market on the perspective of LED headlamps boost the global collimating market spontaneously. The North American in terms of adoption of technologically advanced products in various applications, coupled with presence key players like Ocean Optics, Inc specializes in designing and manufacturing of collimating lenses which are largely used in measurement techniques such as absorbance, irradiance, fluorescence, and pH sensing technique. Europe market is anticipated to show growth.
Key player’s profiles in the global collimating lens market include:
- LightPath Technologies, Inc. (US)
- Ocean Optics, Inc. (US)
- INGENERIC GmbH (Germany)
- TRIOPTICS GmbH (Germany)
- Avantes BV (Netherlands)
- Auer Lighting GmbH (Germany)
- IPG Photonics Corporation (US)
- Optikos Corporation (US)
- Optoelectronics Co. Ltd (UK)
- Thorlabs, Inc. (US)
Market players have witnessed the strategic collaboration and acquisition to expand product portfolio and strengthen their position in the market to enhance the revenue of the company.
- In February 2018, INGENERIC (Germany) launched new microlens arrays with shorter focal lengths and a higher number of lenses per wafer. The company develops customized arrays and commercializes their use in serial production.
- In April 2017, LightPath Technologies (US) signed a substantial contract from Renishaw plc (UK). Engineers from LightPath and Renishaw collaborated to achieve the optimal balance of performance and cost for this unique application.
Global Collimating Lens Market Report Description:
Global collimating lens market report gives comprehensive outlook on collimating lens market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global collimating lens market gives historical, current, and future market sizes on the basis of material type, light source, wavelength and region. This report studies global collimating lens market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global collimating lens market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global collimating lens market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global collimating lens market.
Key Findings of the Report:
- Global collimating lens market expanding at significant CAGR over 2020 to 2026 owing due to increase demand for various optical devices
- Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Light Source
- Others (xenon lamp, Infrared light, and RGB)
- Others (Crystal and silica, among other)
By End Use
- Light and Display Measurement
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA