NEW YORK, United States, July 07, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Aspheric Lenses Market Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030” in its research database. According to the latest research study, the global aspheric lenses market size was worth at around USD 8.5 billion in 2022. The market is expected to grow above a CAGR of 6.5% and is anticipated to reach over USD 14 billion by 2030.
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Aspheric Lenses Market Overview:
Aspheric lenses are a type of optical lens that deviates from the traditional spherical shape and instead features a non-uniform surface profile. Unlike spherical lenses, which have a constant curvature across their entire surface, aspheric lenses have varying curvatures that allow for improved optical performance and correction of aberrations. The design of aspheric lenses involves carefully shaping the lens surface to minimize aberrations such as spherical aberration, coma, astigmatism, and distortion.
By utilizing non-spherical surfaces, these lenses can achieve better image quality, sharper focus, and reduced optical aberrations compared to spherical lenses. Aspheric lenses offer other benefits, including compactness and reduced weight compared to systems that use multiple spherical lenses. Their non-uniform surface allows for the design of thinner and lighter optical systems, making them ideal for applications where space and weight constraints are crucial, such as consumer electronics, automotive lighting, and virtual reality devices.
Manufacturing aspheric lenses requires precise techniques such as diamond turning, molding, or computer numerical control (CNC) machining to achieve the desired surface profile. Advanced manufacturing processes and technologies have made it possible to produce aspheric lenses with high accuracy and consistency.
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Key Insights from Primary Research
- As per the analysis, the Aspheric Lenses market share is likely to grow above a CAGR of around 6.5% between 2023 and 2030.
- The Aspheric Lenses market size was worth around US$ 8.5 billion in 2022 and is estimated to hit approximately US$ 14 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The growing demand for aspheric lenses from the various end-use industries including consumer electronics, automotive, aerospace, and others is expected to drive the aspheric lenses market growth during the forecast period.
- Based on the type, the glass segment is expected to capture the highest market share during the forecast period.
- Based on the offering, the single aspheric lens is expected to grow at the fastest rate over the forecast period.
- Based on the manufacturing technology, the molding manufacturing technology segment is expected to propel the market growth during the forecast period.
- Based on the application, the consumer electronics segment is expected to grow at a considerable market share during the forecast period.
- Based on region, the Asia Pacific is expected to hold a significant revenue share during the forecast period.
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Industry Growth Factors:
The global aspheric lenses market is driven by the demand for high-quality optics, technological advancements, and growing applications in consumer electronics, healthcare & medical sectors, automotive, and aerospace industries. However, challenges such as complex manufacturing processes, cost considerations, and regulatory compliance can impact the market. Overall, the market is expected to continue growing as industries increasingly recognize the benefits of aspheric lenses in improving optical performance.
Competitive Players
The report contains qualitative and quantitative research on the global Aspheric Lenses Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global aspheric lenses market include;
- Panasonic Holdings Corporation
- Carl Zeiss AG
- Nikon Corporation
- Hoya Corporation
- Thorlabs Inc.
- AGC Inc.
- Canon Inc.
- Tokai Optical Co. Ltd.
- Calin Technology Co. Ltd.
- Largan Precision Co. Ltd
- Edmund Optics India Private Limited
- shanghai-optics.com
- GlobalSpec
- SCHOTT
- as¬pheri¬con GmbH
- Hyperion Optics
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Aspheric Lenses Market: Segmentation
The global aspheric lenses industry is segmented based on type, offering, manufacturing technology, application, and region.
Based on the type, the global market is bifurcated into glass, plastic, and others. The plastic segment is expected to grow at the fastest rate over the forecast period. Plastic aspherical lenses reduce spherical aberration, a common issue with traditional spherical lenses. This enhances the quality and clarity of the image, particularly in the corners. Additionally, compared to traditional spherical lenses, plastic aspherical lenses are usually lighter and more portable, which may make them easier to handle and transport. Thereby, driving the segment growth over the forecast period.
Based on the offering, the global aspheric lenses industry is divided into single aspheric lens and double aspheric lens. Based on manufacturing technology, the global market is divided into molding, polishing & grinding, and others. Based on the application, the global aspheric lenses industry is segmented into consumer electronics, digital cameras, automotive, ophthalmic, fiber optics & photonics, and others.
Regional Analysis:
The Asia Pacific is expected to dominate the global aspheric lenses market during the forecast period. The Asia Pacific region is witnessing a rising demand for aspheric lenses across various industries. This demand is driven by factors such as increasing disposable income, expanding middle-class population, and growing awareness about advanced optical technologies. Industries such as consumer electronics, automotive, healthcare, and photography are major contributors to the demand for aspheric lenses in the region.
However, the North American region is expected to experience significant growth over the forecast period owing to the growing aging population coupled with the growing eye-related disease.
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Recent Industry Developments:
- In April 2022, PENTAX Optical Lenses were first made available in the US by HOYA Vision Care. The variety of PENTAX optical lenses includes single vision, progressive lenses, digital lenses, etc. Because the PENTAX line has been made available in the US, HOYA now faces competition in the retail sector.
- In April 2022, the CN-E20-50mm T2.4 L F/FP wide-angle zoom lens and the CN-E45-135mm T2.4 L F/FP telephoto zoom lens were both introduced by Canon. The focal length ranges for the wide-angle and telephoto zoom lenses are 20–50mm and 45–135mm, respectively. The new lenses can reduce color smearing and chromatic aberrations.
Key questions answered in this report:
- What is the market size and growth rate forecast for Aspheric Lenses industry?
- What are the main driving factors propelling the Aspheric Lenses Market forward?
- What are the leading companies in the Aspheric Lenses Industry?
- What segments does the Aspheric Lenses Market cover?
- How can I receive a free copy of the Aspheric Lenses Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 8.5 Billion |
| Market Forecast in 2030 | USD 14 Billion |
| Growth Rate | CAGR of 6.5% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Panasonic Holdings Corporation, Carl Zeiss AG, Nikon Corporation, Hoya Corporation, Thorlabs Inc., AGC Inc., Canon Inc., Tokai Optical Co. Ltd., Calin Technology Co. Ltd., Largan Precision Co. Ltd, Edmund Optics India Private Limited, shanghai-optics.com, GlobalSpec, SCHOTT, asphericon GmbH, and Hyperion Optics among others. |
| Segments Covered | By Type, By Offering, By Manufacturing Technology, By Application, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global aspheric lenses market is segmented as follows:
By Type
- Glass
- Plastic
- Others
By Offering
- Single Aspheric Lense
- Double Aspheric Lense
By Manufacturing Technology
- Molding
- Polishing & Grinding
- Others
By Application
- Consumer Electronics
- Digital Cameras
- Automotive
- Ophthalmic
- Fiber Optics & Photonics
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2023-2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Type, By Offering, By Manufacturing Technology, By Application, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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