Collimating Lens Market Business Strategy and Growth Factors till 2023
Posted by Akash Sangshetti on February 24th, 2021
Globally, the collimating lens market is expected to have significant growth over the forecast period. The increasing need for advanced optical technologies that ensure energy-efficiency, better light quality, and durability acts as the major driving factor for the growth of collimating lens market globally. Among the diverse application areas of collimating lenses, automotive lighting is expected to be 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.
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, 2018–2013.
Collimating Lens Market – Segmentation
The global collimating lens Market is segmented into light source, material, wavelength, application area, and region/country.
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).
Global Collimating Lens Market – Regional Analysis
The global market for global collimating lens is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of the market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
North America is presumed to have largest contribution in the collimating lens market. The 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. Asia-Pacific is anticipated to be the fastest growing region in the collimating lens market over 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.
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About the AuthorAkash Sangshetti
Joined: October 1st, 2019
Articles Posted: 322
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