Aspherical Lens Global Market Report 2024

The aspherical lens market has grown strongly in recent years. It will grow from $8.5 billion in 2023 to $9.15 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth observed in the historical period can be credited to several factors, including an increasing demand for superior imaging quality, expansion within the healthcare sector, the flourishing consumer electronics market, applications within the automotive industry, and evolving trends in photography and videography.

The aspherical lens market is expected to see strong growth in the next few years. It will grow to $11.9 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. Anticipated growth in the forecast period is expected due to the rapid expansion of augmented reality (AR) and virtual reality (VR) technologies, ongoing innovation in imaging technologies, evolutionary shifts within the automotive industry, the increasing significance.

The aspherical lens market is poised for growth, driven by an upsurge in vehicle production. This refers to the large-scale manufacturing of similar vehicle models that comply with road regulations. Aspherical lenses play a vital role in automotive headlamp lighting systems, ensuring a consistent focal length. This not only enhances vehicle performance but also contributes to improved driving conditions and heightened road safety. Notably, in April 2022, the European Automobile Manufacturers Association reported a global production of 79.1 million automobiles in 2021, marking a 1.3% increase from 2020. Hence, the rising vehicle production significantly fuels the expansion of the aspherical lens market.

The burgeoning usage of consumer electronics is set to be a driving force behind the expansion of the aspherical lens market. These electronics encompass personal gadgets such as smartphones, tablets, laptops, TVs, gaming consoles, and wearable devices. Aspherical lenses play a crucial role in these devices, rectifying optical aberrations and ensuring precise imaging in compact designs. For instance, data from Canalys in May 2022 indicated a 3.7% year-on-year increase in North American smartphone shipments, totaling 39.0 million units in Q1 2022. Market shares revealed significant growth for brands such as Apple, Samsung, TCL, and Google. Hence, the surge in consumer electronics usage is fueling the growth of the aspherical lens market.

The aspherical lens market witnesses a significant trend in product innovation as companies strive to maintain their market presence. A prime example is Sony Corporation's introduction of the FE 20-70mm F4 G lens in January 2023. This lens leverages cutting-edge technology to offer a unique ultra-wide 20-70 mm zoom range while ensuring superior G Lens image quality. The innovative optical design, comprising advanced elements such as aspherical, extra-low dispersion, and ED aspherical elements, corrects chromatic and spherical aberrations, delivering exceptional optical performance across the entire zoom range.

Major players in the aspherical lens market are dedicated to pioneering ultra-wide aspherical lenses. These lenses possess an extensive field of view, rectifying optical aberrations associated with wide-angle imaging. An example is a China-based lens manufacturer's announcement of its '9mm F5.6' aspherical full-frame lens in October 2023. This lens offers a non-fisheye ultra-wide-angle perspective of 132°, minimizing distortion through an advanced aspherical optical design. Constructed with multiple elements, including aspherical and ED elements, it delivers virtually zero distortion, catering to high-quality wide-angle photography.

In April 2021, Salvo Technologies, a US-based company specializing in instruments measuring optical properties, completed the acquisition of Kreischer Optics for an undisclosed sum. This strategic move enables Salvo to broaden its technological portfolio, incorporating Kreischer Optics' complementary optical fabrication capabilities. This aligns with Salvo's overarching strategy of vertically integrating precision optical component creation. Kreischer Optics, also based in the US, specializes in manufacturing various optical components such as aspheric, cylindrical, and spherical lenses.

Major companies operating in the aspherical lens market report are Nikon Corporation, Canon Inc., Panasonic Holding Corporation, Hoya Corporation, AGC Inc., Schott AG, Carl Zeiss AG, Tokai Optical Co. Ltd., Seiko Optical Products Co. Ltd., Calin Technology Co. Ltd., Sunny Optical Technology Company Limited, Zhejiang Lante Optics Co. Ltd., Mingyue Optical Lens Co. Ltd., Hyperion Optics Inc., Jenoptik AG, Knight Optical Ltd., Dg Optoelectronics, Olympus Corporation, Tamron Co. Ltd., Sony Corporation, Fujifilm Holdings Corporation, Konica Minolta Inc., Samsung Electronics Co. Ltd., LG Electronics Inc., Pentax Corporation, Sigma Corporation, Leica Camera AG, Schneider Optische Werke GmbH, Rodenstock GmbH, Edmund Optics Inc., Thorlabs Inc., Largan Precision Co. Ltd., Fujian Forecam Optics Co. Ltd., Kinko Optical Co. Ltd., Nanyang Bright Optical Co. Ltd.

Asia-Pacific was the largest region in the aspherical lens market in 2023 and is expected to be the fastest-growing region in the global aspherical lens market report during the forecast period. The regions covered in the aspherical lens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aspherical lens market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types include glass aspherical lenses, plastic aspherical lenses, and other specialized variants. Glass aspherical lenses feature a non-spherical, symmetric curvature and are crafted through diverse manufacturing processes such as molding and polishing. They're available as single or double aspherical lenses, finding application across various industries such as consumer electronics, digital cameras, automotive, ophthalmic equipment, fiber optics, and more.

The aspherical lens market research report provides aspherical lens market statistics, including the aspherical lens industry global market size, regional shares, competitors with an aspherical lens market share, detailed aspherical lens market segments, market trends, and opportunities, and any further data you may need to thrive in the aspherical lens industry. This aspherical lens market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The aspherical lens market consists of precision aspherized achromatic lenses, precision polished aspheres, laser-grade aspheres, diamond turned aspheres and hybrid aspherized achromatic lenses. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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