Collimating Lens Market 2020 by Trends, Market Share, Size, Growth, Opportunities Forecast 2023

Market Synopsis:

It further unfolds that the valuation of the collimating lens market is anticipated to grow from USD 266.0 Mn in 2018 to USD 371.9 Mn by the end of the assessment period.

Collimating lens is a curved lens that facilitate the light rays to enter into a spectrometer structure parallelly. It has paved its way across different end-user industries and is expected to witness technological advancements in the years to come. The report circulated by Market Research Future MRFR) has assessed and revealed that the global collimating lens market is expected to expand at 6.9% over the projection period 2018 to 2013.

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The lens facilitates the control of several factors such as illumination, spatial resolution, field view, and projection angles. This, in turn, has gained quick mileage for the technology across different industry verticals. The trend is prognosticated to continue exhibiting a similar pattern in the upcoming years, thus, supporting the growth of the collimating lens market. Also, the increasing use of aspheric lenses over spherical lenses is expected to fuel demand for collimating lens over the next couple of years.

Among the end-user industries such as aerospace, automotive, military, biotechnology, etc., automotive is anticipated to contribute more substantially to the development of the collimating lens market. It is extensively used in the headlamps of mid to high range automobiles. Increasing sales of vehicles are forecasted to benefit the expansion of the collimating lens market in the foreseeable future.

Competitive Dashboard:

Trioptics GmbH (Germany), Ocean Optics, Inc. (US), Auer Lighting GmbH (Germany), IPG Photonics Corporation (US), LightPath Technologies, Inc. (US), Avantes BV (The Netherlands), Thorlabs, Inc. (US), Optikos Corporation (US), Ingeneric GmbH (Germany), and The Optoelectronics Co. Ltd. (UK) are some of the key players participating in the global collimating lens market. These players are anticipated to contribute prominently to the expansion of the global market by investing in regional expansion. Also, these players are projected to invest in research & development for the expansion of their technological capabilities. Other strategies for growth expected to be devised by the participants of the collimating lens market are mergers & acquisitions, agreements, collaborations, partnerships, etc. Product launches and product developments are poised to play a crucial role in the development of the collimating lens market over the next couple of years. The intense competition in the market is prognosticated to encourage the entry of new participants in the market in the nearby future.

Market Segmentation:

The segmental analysis of the collimating lens market is conducted on the basis of light source, material, wavelength, and application area.

By light source, the market has been segmented into Laser, LED, and others.

On the basis of material, the global collimating lens market has been segmented into plastic, glass, and other materials.

Based on wavelength, the collimating lens market has been segmented into 1000-1500 nm, <1000 nm, 1500-2000 nm, and >2000 nm.

On the basis of application area, the global collimating lens market has been segmented into lidar, light and display measurement, spectroscopy, medical, interferometry, automobile, and others.

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Regional Analysis:

This MRFR report covers a detailed regional assessment of the global collimating lens market on a regional as well as a country-level basis. The regional segments assessed are Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). North America, led by the U.S., is poised to dominate the future trajectory of the market. The region exhibits early adoption of innovative technologies which is projected to have a favorable impact on market growth over the next few years. Asia Pacific collimating lens market is anticipated to witness the fastest growth over the forecast period. Its growth can be ascribed to the increasing sales of automobiles in the region.

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