Global Collimating Lens Market size was valued at US$ 265 Mn in 2017 and is expected to reach US$ 512 Mn by 2026 to exhibit a CAGR of 8.58 % during the forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global collimating lens market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global collimating lens market.
Collimating is the method of accurately aligning light in a parallel fashion. For light measurement, this ensures that the light has negligible spread as it propagates. Collimating lenses are to ensure that the light that enters the instrument is parallel and deliver accurate readings. Collimating lenses provide many benefits as compared to other various lens types.
Benefits of collimating lenses in many applications and advantages of using aspheric lenses over traditional spherical lenses in optics systems are the key factors driving the growth of the collimating lens market. Also, rapid developments in the manufacturing of LED lamps and rising demand and popularity for a wide range of optical devices, like spectrometer, microscopes, and measurement displays, is probably fueling this market across the world.
However the growth of the market mostly restrained by the high costs of the lenses which might discourage those having less disposable income from purchasing the products. While some players are trying to slacken the cost. Restriction of hazardous substances compliance is the key challenge to market growth. Growing demand for collimating lenses in various applications and the increasing importance of fiber optics collimating lenses are expected to produce various opportunities for the global collimating lens market.
Collimating lens segment is expected to grow rapidly during the forecast period owing to the increasing use of this lenses in the production of automobiles and growing preference for the vehicles equipped with LED headlamps boosts the sales and production of collimating lenses market. Lenses having a higher index of refraction can bend light more efficiently. The refractive index of glass varies from 1.5 to 1.9, while it ranges from 1.5 to 1.74 for plastics Because of that glass collimating type lens are provide efficient propagation light over the plastic lens. Also, lenses with higher refractive indices are thinner than lenses of the same power made with the materials of lower refractive indices, which supports the growth of the glass collimating lenses market.
The automobile end-use industry held the largest share of the global collimating lens market in 2017 among the other. The growth of the automobile industry is attributed by the factors such as advancements in lighting technologies, like manufacturing of LED, need for unique designs, and available light colors are the main factors permitting the manufacturers to make lighting assemblies with new aspects. Also increasing demand for collimating lenses in the automobile segment owing to the rising adoption of LED headlamps in different types of vehicles are also boost the growth of the automobile industry in the global market in the forecast period. Increasing penetration of LED headlamps for automobile offers growth opportunities for the collimating lens market.
According to the global collimating lenses market analysis the Asia Pacific market is expected to dominate the market during the forecast period owing to the rapidly emerging automobile sector of the region, in which optical systems are essential, increasing inclinations for automobiles that are generally armed with LED headlamps. Further original equipment manufacturers of collimating lenses have established their industrial units in this region are also projected to boost the growth of the market. The North American and European markets for collimating lens are predicted to show good growth in the years ahead because of growing demand and popularity of LED lighting systems and optical measurement systems, which are used for many applications. The collimating lens market in the Middle East and Africa and Latin America are anticipated to register a slow rate of growth in the forecast period.
Scope of the Global Collimating Lens Market
Global Collimating Lens Market, by Light Source
• Light Emitting Diode (LED)
• Others (xenon lamp, Infrared light, and RGB)
Global Collimating Lens Market, by Material
• Others (Crystal and silica)
Global Collimating Lens Market, by Wavelength
• Less than 1000 nm
• 1000 nm – 1500 nm
• 1500 nm – 2000 nm
• Greater than 2000 nm
Global Collimating Lens Market, by End Use
• Light and Display Measurement
• Others (Environmental sensing, gas detection systems, communication, and agriculture measurement & monitoring system among others)
Global Collimating Lens Market, by Region
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Collimating Lens Market
• Lightpath Technologies, Inc.
• Ocean Optics, Inc.
• Ingeneric GmbH
• Trioptics GmbH
• Avantes Bv
• Auer Lighting GmbH
• IPG Photonics Corporation
• Optikos Corporation
• The Optoelectronics Co. Ltd.
• Thorlabs Inc.
• AMS Technologies AG
• Axetris AG
• Broadcom Limited
• Bentham Instruments Limited
• Casix, Inc.
• Edmund Optics Inc.
• Fisba AG
• Hamamatsu Photonics K.K.
• Opto-Line, Inc.
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