USD 271.6 million
Collimating Lens Market Size, Share, Growth Analysis, By Light Source(LED, Laser and Other), By Material(Glass and Plastic), By Wavelength(<1000 nm, 1000–1500 nm, 1500–2000 nm and >2000 nm), By End-User(Spectroscopy, Automotive & Transportation, Medical, Lidar), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2834 |
Region:
Global |
Published Date: April, 2024
Pages:
217
|Tables:
118
|Figures:
73
Collimating Lens Market Insights
Collimating Lens Market size was valued at USD 271.6 million in 2022 and is poised to grow from USD 286.8 million in 2023 to USD 451.13 million by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
Increasing importance of fiber optics collimating lenses and increasing use of non-spherical lenses over conventional spherical lenses in optics systems will impact the growth of collimating lens market. Also, increasing mirrors in automobile manufacturing and increasing use of LED lamps will fuel the market growth.
The rising demand for collimation lenses from various applications and emerging markets will further provide lucrative opportunities for market growth. However, high costs associated with manufacturing will act as a restraint for the collimating lens market growth. Lower disposable income will further align market growth.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Infrastructure
Fastest Growth
Growth Rate
5.8% CAGR
Global Collimating Lens Market ($ Bn)
Country Share for North America Region (%)
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Collimating Lens Market Segmental Analysis
The collimating lens market is segmented into light source, material, wavelength, end-user, and region. On the basis of light source, the market is segmented into LED, laser and others. Based on material, the collimating lens market is segmented into glass and plastic. Based on wavelength, the collimating lens market is segmented into <1000 nm, 1000–1500 nm, 1500–2000 nm and >2000 nm. Based on end-user, the collimating lens market is segmented into spectroscopy, automotive & transportation, medical, lidar, automobile, light and display measurement, interferometry and others. By Region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Collimating Lens Market Analysis by Light Source
The LED light source segment dominated the global market and is estimated to grow at the highest CAGR of 12.8%, buoyed by the bright demand for LED lighting in commercial lighting industries. In December 2020, Ultra Beam Lighting launched a series of new lighting products. These new LED lighting products are exclusively wall-mounted reading lamps, which are bright and energy efficient. LED lighting is an energy efficient technology compared to other traditional or permanent lighting solutions, and an increasing number of consumers prefer LED lighting products that consume less energy and therefore provide LED lighting usage is highly increasing among various end users collimating lenses.
Lasers is the fastest growing segment with a market share of 49.19%. An important component of laser equipment, such as laser welding equipment, laser marking equipment, laser cutting equipment, laser engraving equipment, and so on. Collimating lens and Laser collimating lenses come from energy fiber, while collimating lenses are used for point light sources. By placing the light source at the point of divergence at the focal point of the fiber collimating lens, the light from the point in the focusing lens passes through the collimating lens and is converted into parallel light.
Collimating Lens Market Analysis by End-User
The light and display measurement segment dominated the market. Collimating lenses are widely used for LED light sources in lighting technology. Both geometric optics and non-reflex optics are used to calculate the lens surface. Advances in this process do not involve software optimization or complex iterations. Any source of light, not just Lambertian, can be used in this way.
Automotive & transportation held the largest share and is expected to grow at a high CAGR of 6.2% during the forecast period 2024-2031. Major automotive manufacturers are investing in advanced lighting solutions to integrate high quality LEDs for automotive lighting, accelerating the demand for collimating lens market.
Global Collimating Lens Market By Light Source
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Collimating Lens Market Regional Insights
North America dominated segment which is expected to follow the fastest CAGR during the forecast period. The market growth is driven by the increasing use of LED lighting systems in many industrial applications. LED lighting systems are used in many industrial applications such as streetlights, parking lights, sidewalks, and other outdoor lighting, refrigerator lighting, modular lighting, and task lighting.
By 2022, Asia-Pacific accounted for the largest share of revenue with a share of 39%. Taiwan, Japan, Singapore, and India are a regional presence of collimating lenses due to increased demand in consumer electronics, easy availability for electronics industry, affordable raw materials and affordable raw materials contribute significantly to jar growth. Asia-Pacific is the fastest growing region during the forecast period. The region is the most densely populated region in the world and is expected to be the largest smart grid deployment region globally. It includes many developing countries, and its development requires greater efficiency of the sectors. Thus, the market is likely to grow as the demand for smart products increases.
Global Collimating Lens Market By Region
- Largest
- Fastest
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Collimating Lens Market Dynamics
Collimating Lens Market Drivers
Increasing Adoption of Optics Systems
- Spherical lenses that equalize the light entering the spectrometer system are called collimating lenses. These lenses allow users to adjust the exposure and collection for samples, as well as the system's optical efficiency, collection efficiency, and spatial resolution. Examples of lensing insertion to ensure that the light entering the instrument is uniform and covers the required area. The need for fiber components, especially fiber collimating lenses, is expected to increase due to increasing investments in fiber optics.
Increasing Demand for High Quality Microscopy
- The market is driven by the increasing demand for high quality microscopy systems in various applications, technological advancements in microscopes are major factors driving the market growth. Increasing demand for collimating lenses in various applications, is expected for fiber optics increasing importance will create greater opportunities for growth.
Collimating Lens Market Restraints
High Cost
- The development and manufacture of image intensification technology can be expensive. High initial costs may restrict adoption, particularly in markets with high cash flow constraints, such as certain customer segments or smaller organizations.
Cybersecurity Problems
- Smart grid sensors generate and transmit large amounts of data, making them potential targets for cyberattacks. It is important to ensure the security and integrity of the data transmitted by these sensors and prevent unauthorized access, data breaches, and disruption of network services When addressing cybersecurity concerns, it adds complexity and cost to smart grids sensor implementation.
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Collimating Lens Market Competitive Landscape
The competitive environment of the Global Collimating Lens Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Major smart grid sensor manufacturers include ABB Ltd., Eclara Technologies LLC, General Electric Co., Honeywell International Inc., Eaton, Toshiba Corporation, Networked Energy Services Corp., KinetiQ Group PLC, Torino Power Solutions Inc., Sentient Energy, Inc ., ARTECHE, Siemens AG, Ingenu Inc., GIPRO GmbH, and GRID20/20 Inc. Market players looking at smart grid integration are focusing on creating technologically advanced smart grid sensors such as voltage and temperature smart grid sensors, outage detection smart grid sensors, transformer monitoring smart grid sensors, dynamic line rating smart grid sensors, and others. Investment in research and sensors for various applications such as smart energy meters, SCADA, advanced metering infrastructure (AMI), and among others.
Collimating Lens Market Top Player’s Company Profiles
- 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.
Collimating Lens Market Recent Developments
- In October 2022, Auer Lighting GmbH was certified by the IATF 16949 technical specification to carry out a quality control system issued by the International Automobile Agency.
- In June 2022, Ocean Insights acquired Rochester, N.Y. The company is doubling down on its engineering, manufacturing and support offices. The new facility will focus on developing spectral programs for a variety of industries including power generation. The new 13,528-square-foot facility will expand the company’s manufacturing capabilities and strengthen its photonics product and application expertise.
- In May 2021, Thai energy firm Impact Solar partnered with Hitachi ABB Power Grids to deliver the largest privately owned microgrid energy storage system in the country.
- In January 2021, Schneider Electric will acquire DC Systems B.V., a leading provider of smart systems. This has helped the company innovate in power distribution.
Collimating Lens Key Market Trends
- Increasing Number of Electric Vehicles to Boost Market Growth: Plug-in electric vehicles (PEVs) are now being offered to customers in various countries to support the transition to low-carbon vehicles. A smart grid system has been designed to provide the necessary infrastructure to enable the optimal deployment of these PEVs. Increased production of electric vehicles gives an opportunity to grow the market as many countries like India, China, Europe and USA have already implemented electric vehicles and are promoting employment for example, New Jersey by US Utility Public Service Electric & Gas Company (PSE&G) was held in July of 2021 -Partnered with Landis+Gyr to provide and provide the services and technology available for advanced metering in the city PSE to improve customer energy efficiency , $700 million in smart meters, and electric vehicle systems. A&G will invest $1 billion.
Collimating Lens Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The collimating lens market is expected to grow significantly during the forecast period due to factors such as technological advantages of collimating lenses for versatility, advantages of spherical lenses over conventional lenses. Also, there is an increasing importance of fiber optics collimating lenses in the market offering significant growth opportunities.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 271.6 million |
| Market size value in 2031 | USD 451.13 million |
| Growth Rate | 5.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Collimating Lens Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Collimating Lens Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Collimating Lens Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Collimating Lens Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Collimating Lens Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Collimating Lens Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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