Dublin, Nov. 13, 2018 (GLOBE NEWSWIRE) -- The "Collimating Lens Market by Light Source (LED and Laser), Material (Glass and Plastic), End Use (Automobile, Medical, LiDAR, Light and Display Measurement, and spectrometer), Wavelength, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The collimating lens market is expected to grow from USD 289 million in 2018 to USD 380 million by 2023, at a CAGR of 5.7%
The growth of this market is mainly driven by several factors, such as advantages of collimating lenses in various applications and benefits of using aspheric lenses over traditional spherical lenses in optics systems. Growing demand for collimating lenses in various applications and increasing importance of fiber optics collimating lenses provide lucrative opportunities for the players in the collimating lens market. However, high manufacturing cost of aspheric lenses restraint the collimating lens market growth.
LED light is expected to hold significant share of collimating lens market during forecast period
LED light source accounted for the largest share of the collimating lens market in 2017. The use of LED lighting systems can lead to 5 times lesser energy consumption than that of collimating lens systems in which conventional fluorescent lamps are used. Energy saving, long lifespan, compact volume, high color-rendering index, and environmental benefits are the major advantages of laser- and LED-based collimating lenses over lamp-based collimating lenses.
Automobile segment is expected to hold significant share of collimating lens market by 2023
The automobile segment accounted for the largest share of the collimating lens market in 2017. There is an increasing demand for collimating lenses in the automobile segment owing to the increasing adoption of LED headlamps in different types of vehicles. The market for LED headlamps is expanding from high-end vehicle to mid-range vehicles. Hence, increasing penetration of LED headlamps in automobiles provides growth opportunities for the collimating lens market.
Market in APAC is likely to grow at highest CAGR during forecast period
The collimating lens market in APAC is expected to grow at the highest CAGR during the forecast period.. APAC is expected to provide ample opportunities to the players in the collimating lens market during the forecast period as all major OEMs have established their manufacturing units in this region. In APAC, the collimating lens market growth is driven by the rising production of automobiles/vehicles. The growing preference for the vehicles equipped with LED headlamps, in turn, boosts the sales and production levels of collimating lenses in this region.
Key Topics Covered:
1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.4 Currency
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Collimating Lens Market (2018-2023)
4.2 Collimating Lens Market, By End Use
4.3 Collimating Lens Market, By Light Source and Region
4.4 Collimating Lens Market, Geographic Analysis
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advantages of Collimation of Light in Various Applications
5.2.1.2 Benefits of Using Aspheric Lenses Over Traditional Spherical Lenses in Optics Systems
5.2.2 Restraints
5.2.2.1 High Manufacturing Cost of Aspheric Lenses
5.2.3 Opportunities
5.2.3.1 Growing Demand for Collimating Lenses in Various Applications
5.2.3.2 Increasing Importance of Fiber Optics Collimating Lenses
5.2.4 Challenges
5.2.4.1 Restriction of Hazardous Substances (ROHS) Compliance
6 Collimating Lens Market, By Light Source
6.1 Introduction
6.2 LED
6.2.1 Increase in Demand for LED Headlamp in Automobile to Drive the Growth of LED Collimating Lens Market
6.3 Laser
6.3.1 Benefits Such as High Intensity and Monochromaticity are Expected to Shoot Demand for Laser Light Sources
6.4 Others
7 Collimating Lens Market, By Material
7.1 Introduction
7.2 Glass
7.2.1 Greater Density of Glass Material to Drive Demand for Glass Collimating Lens Market
7.3 Plastic
7.3.1 Low-Quality Plastics are Limiting Growth of Plastic Collimating Lens Market
7.4 Other Materials
8 Collimating Lens Market, By Wavelength
8.1 Introduction
8.2 <1000 nm
8.2.1 Collimating Lens Market for Laser Light Source With <1000 nm Range to Grow at High Rate
8.3 1000-1500 nm
8.3.1 LED to Hold Largest Size of Collimating Lens Market for 1000-1500 nm Range
8.4 1500-2000 nm
8.4.1 1500-2000nm Wavelength is Most Suitable for Medical and Industrial Application Which Drives the Collimating Lens Market
8.5 >2000 nm
8.5.1 Laser Light Source With >2000 nm Wavelengths is Expected to Have Growth in Spectrometer and Interferometer End Use Applications
9 Collimating Lens Market, By End Use
9.1 Introduction
9.2 Spectroscopy
9.2.1 Demand of Spectroscopy in Determining Refractive Index of A Material, Presence of Undesired Wavelengths, and Colour Properties of Light Source Help to Drive the Market
9.3 Medical
9.3.1 Increasing Use of Collimating Lens in Various Medical Equipment
9.4 Lidar
9.4.1 Increasing Penetration of Lidar Technology in Various Applications to Provide Growth Opportunities for Collimating Lens Market
9.5 Automobile
9.5.1 Advancements in Lighting Technologies Adopted in Automobiles Drive Demand for Collimating Lenses
9.6 Light and Display Measurement
9.6.1 Collimating Lens is an Inevitable Component in Light and Display Measurement
9.7 Interferometry
9.7.1 Need for Interferometry in Evaluation of Displacement and Irregularities in Flat and Spherical Surfaces Will Boost Market Growth
9.8 Others
10 Collimating Lens Market, Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 Us
10.2.1.1 US Accounted for Largest Size in Collimating Lens Market in North America
10.2.2 Canada
10.2.2.1 Collimating Lens Market in Canada is Expected to Witness Significant Growth in Coming Years
10.2.3 Mexico
10.2.3.1 Rapidly Expanding Automotive Manufacturing in Mexico is Expected to Provide Prospects to Collimating Lens Market
10.3 Europe
10.3.1 Germany
10.3.1.1 Growing Presence of Optics Component Manufacturers in Germany is Expected to Drive Market Growth
10.3.2 UK
10.3.2.1 Increasing Demand for Medical Equipment in UK is Propelling Demand for Collimating Lenses
10.3.3 France
10.3.3.1 High Use of Lidar Systems in Applications Such as Space Exploration, Meteorology, and Corridor Mapping Boost Demand for Collimating Lenses in France
10.3.4 Italy
10.3.4.1 Sophisticated Healthcare Infrastructure in Italy Raises Demand for Collimating Lenses
10.3.5 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 China Accounted for Largest Share of Collimating Lens Market in APAC
10.4.2 Japan
10.4.2.1 Increasing Adoption of LED Headlamps in Japan Due to Presence of Large Number of Car Manufacturers Drives Market Growth
10.4.3 India
10.4.3.1 Largest and Fastest-Growing Automobile Markets in India to Provide Growth Opportunities for Collimating Lens Providers
10.4.4 South Korea
10.4.4.1 Applications Such as Light and Display Measurement, Medical, and Automobile Drive Demand for Collimating Lenses in South Korea
10.4.5 Rest of APAC
10.5 Rest of the World
10.5.1 South and Central America
10.5.1.1 Brazil and Argentina is Expected to Witness the Highest Growth Rate in Collimating Lens Market in South America
10.5.2 Middle East and Africa
10.5.2.1 Countries Such as Saudi Arabia, Israel, UAE, and Qatar are Major Contributor to Collimating Lens Market in Middle East
11 Competitive Landscape
11.1 Introduction
11.2 Market Player Ranking Analysis (2018)
11.2.1 Product Launches/Developments
11.2.2 Agreements and Contracts
11.2.3 Mergers/Acquisitions
11.2.4 Expansions
12 Company Profiles
12.1 Key Players
12.1.1 Lightpath Technologies, Inc.
12.1.2 Ocean Optics, Inc.
12.1.3 Ingeneric GmbH
12.1.4 Trioptics GmbH
12.1.5 Avantes Bv
12.1.6 Auer Lighting GmbH
12.1.7 IPG Photonics Corporation
12.1.8 Optikos Corporation
12.1.9 The Optoelectronics Co. Ltd.
12.1.10 Thorlabs Inc.
12.2 Other Key Companies
12.2.1 AMS Technologies AG
12.2.2 Axetris AG
12.2.3 Broadcom Limited
12.2.4 Bentham Instruments Limited
12.2.5 Casix, Inc.
12.2.6 Edmund Optics Inc.
12.2.7 Fisba AG
12.2.8 Hamamatsu Photonics K.K.
12.2.9 Opto-Line, Inc.
12.2.10 Ushio Inc.
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