Collimating Lens Market Synopsis
Globally, the collimating lens market is expected to grow from USD 266.0 million in 2018 to USD 371.9 million by 2023, at a CAGR of 6.9% during the forecast period, 2018–2023.
Collimating lenses are curved lenses that make light parallel when they enter into the spectrometer structure. This helps users in controlling view of the field, spatial resolution, illumination, and projection angles. The use of aspheric lenses over spherical lenses have helped in improving accuracy and usability of the collimating lenses, which has further fuelled growth of the market in the recent years.
Collimating lens has a broad range of application areas in the industry verticals of automotive, aerospace, government, industrial instrumentation, firefighting, medical instrumentation, biotechnology, air and water quality analysis, military, and many more. Automotive industry is the largest contributor in the collimating lens market. Many automobile manufacturers are increasingly adopting LED headlamps with collimating lenses to improve the usability and design of the vehicle headlamps. The market for LED headlamps is growing in all type of vehicles, from high-end to mid-range. Less energy costs, better light quality, and durability are the main factors driving wide adoption of collimating lens in the automotive as well as other application areas.
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Collimating Lens Market Key players
The prominent players in collimating lens market are Ocean Optics, Inc. (US), Trioptics GmbH (Germany), Auer Lighting GmbH (Germany), LightPath Technologies, Inc. (US), IPG Photonics Corporation (US), Avantes BV (The Netherlands), Ingeneric GmbH (Germany), Thorlabs, Inc. (US), Optikos Corporation (US), and The Optoelectronics Co. Ltd. (UK).
Collimating Lens Market Segmentation.
The global collimating lens Market is segmented into light source, material, wavelength, application area, and region/country.
By light source, the market is segmented into LED, Laser, and others.
By material, the market is segmented into glass, plastic, and other materials.
By wavelength, the market is segmented into <1000 nm, 1000-1500 nm, 1500-2000 nm, and >2000 nm.
By application area, the market is segmented into spectroscopy, lidar, medical, automobile, interferometry, light and display measurement, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
Collimating Lens Market Regional Analysis
The global market for collimating lens market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of global printed electronics market is studied for North America, Europe, Asia-Pacific, and rest of the world.
North America is expected to dominate the collimating lens market during the forecast period. North America region is considered as most advanced region in terms of development and adoption of innovative technologies in the field of optics. The region has a huge potential for revenue generation in the collimating lens market, particularly from automotive industry verticals. US is expected to be the dominating country in the collimating lens market in North America region during the forecast period.
Asia-Pacific is expected to grow at the fastest rate during the forecast period. The growing automotive industry in this region has surged the growth of collimating lens in the regional market. Increasing adoption of collimating lenses in LED headlamps of vehicles boosts growth of the market in this region. China, Japan, and India have been the leading countries in the APAC region in terms of market share and this trend is expected to continue in the upcoming years.
Collimating Lens Market Competitive Analysis
According to the latest trend in the collimating lens market, most enterprises are expanding their technological capabilities, with increased investments in research and developments activities. Most of the companies have adopted inorganic strategy to expand their businesses, wherein, partnership and collaboration accounted for XX%, whereas; merger & acquisition accounted for XX% of the overall key development undergone by the key players in the market.
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Collimating Lens Market Intended Audience
Collimating Lens Manufacturers
Automobile Manufacturers
End user industries
Resellers and Distributors
Research and Development Institutes
Standard Making Bodies and Associations
Original Equipment Manufacturers/Original Device Manufacturers
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