Dublin, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The "Europe Precision Optics Market - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The Europe precision optics market (excluding U.K.) is projected to reach $ 10.59 billion by 2031 from $ 4.36 billion in 2022, growing at a CAGR of 10.36% during the forecast period 2022-2031. The surge in demand for precision optical components in consumer electronics and biomedical devices stands out as a key catalyst propelling the precision optics market in Europe. This heightened demand specifically encompasses precision optical elements like lenses, mirrors, windows, and filters.
Market Drivers and Challenges
The increasing sales of smart household appliances in Europe are expected to create rising demand for precision optical components in the coming years and contribute to the growth of the precision optics market.
The unpredictable change in the precision optical component prices is creating difficulty for the companies in the region to plan their expenditure and income, which may hinder the growth of the precision optics market in the short run.
Market Segmentation
Segmentation 1: by End User
- Consumer Electronics
- Aerospace and Defense
- Semiconductor
- Automotive
- Biomedical
- Manufacturing
- Others
Segmentation 2: by Component
- Transmissive
- Filters
- Prisms
- Lenses
- Windows
- Polarizers
- Beamsplitters
- Others
- Reflective
- Mirrors
- Retroreflectors
- Others
Segmentation 3: by Country
- Germany
- France
- Italy
- Spain
- Rest-of-Europe (RoE)
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Some of the prominent names established in this market are:
- ZEISS International
- Solaris Optics
- WayRay AG
- Zuend Group
Key Attributes
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2022-2031 |
| Estimated Market Value (USD) in 2022 | $4.36 Billion |
| Forecasted Market Value (USD) by 2031 | $10.59 Billion |
| Compound Annual Growth Rate | 10.3% |
| Regions Covered | Europe |
Key Topics Covered
1 Markets
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Increasing Investments in Microelectronics and Semiconductor Industry
1.1.1.2 Growing Adoption of Self Driving Vehicles
1.1.2 Supply Chain Analysis
1.1.3 Ecosystem of Precision Optics Market
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory/Certification Bodies
1.1.3.3 Government Programs
1.1.3.4 Programs by Research Institutions and Universities
1.1.4 Impact of COVID-19 on the Precision Optics Market
1.1.5 Impact of Semiconductor War on the Precision Optics Market
1.1.5.1 Dependence on China and the U.S. in Taiwan
1.1.5.2 U.S. Initiatives to Control Exports
1.1.5.3 Critical Challenges Associated with the Policy
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Growing Demand in Life and Health Sciences Instruments
1.2.1.2 Increasing Adoption of Precision Optics in Advanced Manufacturing
1.2.1.3 Rising Uses of Precision Optics due to High Demand for Consumer Electronics
1.2.2 Business Challenges
1.2.2.1 Complex Design and Manufacturing Process of Precision Optics
1.2.2.2 Lack of Skilled Workforce
1.2.3 Business Strategies
1.2.3.1 Product Developments
1.2.3.2 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions
1.2.4.2 Partnerships and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Growing investments in Defence and Security Industry
1.2.5.2 Increasing Global Interest in the Space Industry
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem
2 Region
2.1 Europe
2.1.1 Markets
2.1.2 Applications
2.1.3 Products
2.1.4 Europe (by Country)
2.2 U.K.
2.2.1 Markets
2.2.2 Applications
2.2.3 Products
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.1.1 Competitive Position Matrix
3.1.2 Product Matrix for Key Companies
3.1.3 Market Share Analysis of Key Companies, 2021
3.2 Company Profiles
3.2.1 ZEISS International
3.2.2 Solaris Optics
3.2.3 WayRay AG
3.2.4 Zuend Group
4 Research Methodology
4.1 Primary Data Sources
4.2 Data Sources
4.3 Assumptions and Limitations
For more information about this report visit https://www.researchandmarkets.com/r/27cct7
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