Collimating Lens Market Forecasts to 2028 – Global Analysis By Light Source (LED, Laser and Others Light sources), Material (Glass, Plastic and Others materials), Wavelength(<1,000, 1,000-1,500, 1,500-2,000 and >2,000), End users(Automobile, Medical, LiDA

Collimating Lens Market Forecasts to 2028 – Global Analysis By Light Source (LED, Laser and Others Light sources), Material (Glass, Plastic and Others materials), Wavelength(<1,000, 1,000-1,500, 1,500-2,000 and >2,000), End users(Automobile, Medical, LiDAR and Light and Display Measurement) and By Geography

According to Stratistics MRC, the Global Collimating Lens Market is accounted for $388.83 million in 2022 and is expected to reach $606.813 million by 2028 growing at a CAGR of 7.7% during the forecast period. Collimating lenses are the assisting optical lenses that align the lines to be parallel before entering the spectrometer. These lenses assist in setting the illumination and collection angles for sampling, as well as controlling the field of view, collection competence, and spatial resolution of their units. Additionally, it is used to narrow down the spatial section of light beams, improving visualization.

According to the report published by Zion Market Research, global demand for collimating lens market was valued at approximately USD 305.47 Million in 2019, and is expected to generate revenue of around USD 453.28 Million by end of 2026, growing at a CAGR of around 5.8% between 2020 and 2026.

Market Dynamics:

Driver:

Rise in the use of optics systems

Collimating lenses are curved optical devices used to align the light beams entering a spectrometer setup. Users can alter the setup's field of view, collection efficiency, and spatial resolution by using these lenses to change the lighting and sampling collection angles. Spectrophotometers, colorimeters, and light meters are a few examples of collimating lenses that are used to make sure the light entering an instrument is parallel and covers the required measuring area. In optical systems, lenses are used. In the upcoming five years, for instance, Collimating lenses are advantageous in many ways when compared to other kinds of lenses, especially when expanding optic systems. Collimation lenses are therefore being used more frequently in various industries. Light beams can be collimated with great accuracy and clarity using collimating lenses. Users can regulate the field of view, spatial resolution, and efficiency of their tools or setups by using collimating lenses.

Restraint:

High cost of manufacturing

Aspheric lenses offer more optical functionality than spherical lenses, which ultimately results in an expensive investment. Because of the high manufacturing costs, it is difficult for a variety of end users to adopt aspheric lenses for better performance, which restrains the collimating lens market's expansion.

Opportunity:

Optical sensor market gains in popularity

The collimating lens market created opportunities for the growth by recent developments in optical sensor technology, which have significantly changed the industry. These developments have led to a class of devices that are used in various types of light-matter interactions to monitor, use contactless detection, quantify molecules, and generate analytical signals for a variety of applications. The AQ2200 optical sensor modules were updated and released by the Japanese multinational electrical engineering and software company Yokogawa Electric Corporation in July 2020. For a variety of applications that require high accuracy, the AQ2200-212 single-channel optical sensor module offers improved measurement performance and minimal uncertainty. As a result, it is anticipated that the introduction of various optical measuring applications and non-imaging optics solutions will propel the collimating lens market.

Threat:

Product and quality evaluation

Due to the extreme precision needed in collimating lenses, quality control and product testing can be difficult. Some geometric parameters, like peak-valley value and roughness, are frequently used in the evaluation of lens quality geometric parameters, like peak-valley value and roughness, are frequently used in the evaluation of lens quality. According to performance evaluation, experiments are done to validate the analysis, and a mold polishing procedure is offered as a way to improve lens quality. This can affect the production cycle and raise costs. Some geometric parameters, like peak-valley value and roughness, are frequently used in the evaluation of lens quality.

Covid-19 Impact:

Significant alterations in people's priorities, organizations' policies, and governmental operations were brought about by the effects of COVID-19 on daily life. These new findings fuel innovation and technological progress. Collimating lenses are essential components of the hardware infrastructure for industries such as consumer electronics, healthcare, IT and ITES, automotive, telecommunications, and government. The introduction of COVID-19, according to the Electronic Components Business Association, has hampered other business operations in the industry and delayed the launch of new products. Numerous manufacturers have temporarily ceased operations as a result of the reduced product demand caused by lockdown procedures and the constrained manufacturing capacity.

The automobile segment is expected to be the largest during the forecast period

Automobile manufacturers constantly strive to make their products unique by differentiating their vehicles from those offered by their competitors. Automobile producers are using laser and LED headlamps and other advanced lighting technologies to set their products apart from those of rivals, which is helping to drive the market. As a result, market opportunities are created by the growing use of LED headlamps in automobiles.

The glass segment is expected to have the highest CAGR during the forecast period

The market's highest CAGR is anticipated for the glass segment during the forecast period, which currently holds a sizable market share. Light travels through materials more slowly, the higher their refractive index. The refractive index is calculated as the difference between the speed of light in a vacuum and the material of the lens. Light moves more slowly through the lens material, increasing the amount of refractive distortion. Therefore, the market for glass collimating lenses will experience growth due to higher glass material density.

Region with highest share:

North America will hold the largest market share for laser collimating lenses globally. The demand for laser collimating lenses is increasing due to the presence of major players and cutting-edge technologies. There are many benefits when compared to other lens types, including an increasing number of applications and the growth of optic systems. Collimation lenses are consequently employed more frequently in industry.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, due to the rising demand for LiDAR systems in nations like China and Japan, by the growing use of these systems in automotive applications. Over the next years, the market will grow as a result of rising pharmaceutical company demand for spectroscopy equipment. The high adoption of cutting-edge technologies in numerous applications, including medical, lidar, light and display measurement, and spectroscopy, will cause markets revenue share to exceed 25% in 2021.

Key players in the market

Some of the key players in Collimating Lens market include AMS Technologies AG, Auer Lighting GmbH, Avantes BV, Axetris AG, Bentham, Broadcom, CASIX, Edmund Optics Inc., FISBA AG, Focuslight Technologies Inc., Hamamatsu Photonics K.K., Ingeneric GmbH, IPG Photonics Corporation, Lightpath Technologies, Ocean Optics, Inc., Optikos Corporation, Quarton Inc, , The Optoelectronics Co. Ltd., Thorlabs, Inc., Trioptics GmbH and Ushio America, Inc.

Key Developments:

In October 2022, Auer Lighting GmbH received certification from IATF 16949 technical specifications to develop a quality management system issued by the international automotive Task Force.

In June 2022, Ocean Insights expanded its Rochester, N.Y facility. The company is doubling its engineering, production, and support facility. The new facility will focus on developing a spectral system for industries, including consumer electronics. The new 13,528-square-foot facility will expand the company's production capabilities and strengthen its photonics product and application expertise portfolio.

In May 2022, Focuslight Technologies Inc. unveiled the Focuslight Blue Meniscus SAC. This new Slow Axis Collimator (SAC) features an effective focal length (EFL) of 9.7 mm. It has a concave-convex, a cylindrical lens design for collimating the slow axis of laser diodes.

Light Sources Covered:
• LED
• Laser
• Others Light sources

Materials Covered:
• Glass
• Plastic
• Others materials

Wavelengths Covered:
• <1,000
• 1,000–1,500
• 1,500–2,000
• >2,000

End Users Covered:
• Automobile
• Medical
• LiDAR
• Light and Display Measurement
• Spectroscopy
• Interferometry
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements