Collimating Lens Market Segmentation by Light Source (LED and Laser); by Material (Plastic and Glass); by End-User (Automobile, Clinical, LiDAR, and Spectrometer); by Wavelength (<1,000m, 1000-1500m, 1500-2000m & >2,000m)-Global Demand Analysis and Opportunity Outlook 2022-2031

Global Collimating Lens Market Highlights over 2022-2031

The global collimating lens market was valued at approximately USD 1 billion in 2021 and is expected to expand further at a CAGR of ~4% over the forecast period, i.e, 2022-2031. The growth of the market can be attributed to the growing demand for high-end microscopy systems for several applications and technological developments in microscopes.

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COVID-19 had a negative impact on the global collimating lens market. The import and export activities of the collimating lens got disrupted due to the implication of strict lockdown regulations globally. Nonetheless, increasing use of collimating lenses in different applications, and the growing significance of fiber-optic collimating lenses are anticipated to provide significant growth opportunities to the market players.

However, high manufacturing cost of the lenses and low disposable income are the key factors restraining the growth of the market.

The market is segmented by material into glass and plastic, out of which, the glass segment is anticipated to hold the largest share of the market and witness significant growth over the forecast period owing to their high refractive index and greater density.

Based on end-user, the market is segmented into automobile, clinical, LiDAR, and spectrometer, out of which, the automobile segment is projected to hold the largest share of the market during the forecast period on the back of the increased adoption of LED collimators in vehicles for improved efficiency.

Global Collimating Lens Market Regional Synopsis

Regionally, the global collimating lens market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The Asia-Pacific region holds the largest share of the global collimating lens market and is expected to continue leading the market throughout the forecast period on the back of the rapid expansion of the automobile industry in the region.

Furthermore, the markets in Europe and North America regions are anticipated to witness significant growth during the forecast period by growing at high CAGRs on the back of increasing demand for LED lighting systems and optical measurement systems in several industrial applications.

Market Segmentation

Our in-depth analysis of the global collimating lens market includes the following segments:

By Light Source:

• LED

• Laser

By Material

• Plastic

• Glass

By End-User

• Automobile

• Clinical

• LiDAR

• Spectrometer

By Wavelength

• <1,000 m

• 1,000-1,500 m

• 1,500-2,000 m

• >2,000 m

Growth Drivers and Challenges Impacting the Growth of the Global Collimating Lens Market

Growth Drivers:

• Growing demand for high-end microscopy systems for several applications

• Technological developments in microscopes

• Increasing use of collimating lenses

• Growing significance of fiber-optic collimating lenses

Challenges:

• High manufacturing cost of the lenses

• Low disposable income

Key Companies Dominating the Global Collimating Lens Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global collimating lens market that are included in our report are LightPath Technologies, Avantes BV, INGENERIC GmbH, Ocean Insight, Panasonic Corporation, Thorlabs, Inc., TRIOPTICS GmbH, Optoelectronics Co. Ltd, CASIX, and others.

Latest Development in the Global Collimating Lens Market

• January 2022: Panasonic Corporation announced the development of a technology for the low-cost mass production of far-infrared aspherical lenses, made of chalcogenide glass, that are suitable for improving the performance of cameras and sensors.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact the market growth.

•  The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

•  We provide customized reports as per the clients’ requirements helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goals.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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