Objective Lens Market

The article delves into the global objective lens market, highlighting forecasts for consumption and market value from 2022 to 2030. It discusses consumption trends, production figures, import and export dynamics, as well as per capita consumption rates in various countries. Key findings include a decline in production in 2022, a peak in global consumption in the same year, and notable trends in import and export prices amongst major exporting countries.

Market Forecast

The objective lens market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -2.1% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 44M units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +0.1% for the period from 2022 to 2030, which is projected to bring the market value to $21B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Objective Lenses For Cameras, Projectors Or Photographic Enlargers Or Reducers

In 2022, consumption of objective lenses for cameras, projectors or photographic enlargers or reducers increased by 37% to 52M units, rising for the third consecutive year after seven years of decline. Overall, consumption posted a buoyant increase. Global consumption peaked in 2022 and is likely to continue growth in the immediate term.

The global objective lens market revenue skyrocketed to $20.9B in 2022, growing by 37% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted a strong increase. Over the period under review, the global market attained the maximum level in 2022 and is likely to see steady growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Germany (15M units), the United States (14M units) and China (3.7M units), with a combined 64% share of global consumption. Ireland, Japan and Poland lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +72.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest objective lens markets worldwide were Germany ($6.2B), the United States ($5.6B) and Japan ($2.1B), together comprising 67% of the global market. Poland, Ireland and China lagged somewhat behind, together comprising a further 17%.

Ireland, with a CAGR of +69.9%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of objective lens per capita consumption was registered in Ireland (716 units per 1000 persons), followed by Germany (185 units per 1000 persons), Poland (91 units per 1000 persons) and the United States (42 units per 1000 persons), while the world average per capita consumption of objective lens was estimated at 6.6 units per 1000 persons.

In Ireland, objective lens per capita consumption expanded at an average annual rate of +70.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Germany (+36.7% per year) and Poland (+28.4% per year).

Production

World Production of Objective Lenses For Cameras, Projectors Or Photographic Enlargers Or Reducers

In 2022, production of objective lenses for cameras, projectors or photographic enlargers or reducers decreased by -9.9% to 22M units for the first time since 2019, thus ending a two-year rising trend. Overall, production showed a noticeable decline. The most prominent rate of growth was recorded in 2020 with an increase of 38%. Global production peaked at 31M units in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, objective lens production rose to $6.9B in 2022 estimated in export price. In general, production recorded a abrupt setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by 12%. Over the period under review, global production attained the peak level at $11.9B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Thailand (8.4M units), Japan (5M units) and China (4M units), together accounting for 78% of global production.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +11.7%), while production for the other global leaders experienced mixed trends in the production figures.

Imports

World Imports of Objective Lenses For Cameras, Projectors Or Photographic Enlargers Or Reducers

In 2022, overseas purchases of objective lenses for cameras, projectors or photographic enlargers or reducers increased by 37% to 51M units, rising for the third year in a row after two years of decline. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 132% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, objective lens imports expanded modestly to $6.7B in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 24%. Global imports peaked at $7.1B in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

Germany (16M units) and the United States (16M units) were the main importers of objective lenses for cameras, projectors or photographic enlargers or reducers in 2022, amounting to near 32% and 31% of total imports, respectively. It was distantly followed by Ireland (3.7M units) and Poland (3.5M units), together mixing up a 14% share of total imports. The following importers - China (2M units), the Netherlands (2M units) and Thailand (1M units) - together made up 9.8% of total imports.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +67.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.1B), China ($826M) and Germany ($623M) appeared to be the countries with the highest levels of imports in 2022, with a combined 38% share of global imports. The Netherlands, Poland, Thailand and Ireland lagged somewhat behind, together accounting for a further 11%.

Poland, with a CAGR of +12.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average objective lens import price amounted to $132 per unit, falling by -25.3% against the previous year. Over the period under review, the import price faced a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 9.5%. Global import price peaked at $505 per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($410 per unit), while Ireland ($7.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.1%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Objective Lenses For Cameras, Projectors Or Photographic Enlargers Or Reducers

In 2022, overseas shipments of objective lenses for cameras, projectors or photographic enlargers or reducers decreased by -11.7% to 21M units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 85%. The global exports peaked at 24M units in 2021, and then reduced in the following year.

In value terms, objective lens exports declined to $4.7B in 2022. Over the period under review, exports continue to indicate a pronounced decline. The pace of growth was the most pronounced in 2021 when exports increased by 22% against the previous year. The global exports peaked at $7.7B in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

Thailand was the largest exporter of objective lenses for cameras, projectors or photographic enlargers or reducers in the world, with the volume of exports recording 9.2M units, which was near 44% of total exports in 2022. China (2.4M units) ranks second in terms of the total exports with an 11% share, followed by Japan (8.6%), the United States (8%) and the Netherlands (6.6%). Germany (889K units), Malaysia (688K units), Taiwan (Chinese) (663K units) and South Korea (435K units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to objective lens exports from Thailand stood at +13.4%. At the same time, the United States (+16.4%) and Germany (+6.0%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing exporter exported in the world, with a CAGR of +16.4% from 2012-2022. By contrast, South Korea (-1.1%), Malaysia (-2.5%), the Netherlands (-5.1%), Japan (-5.8%), China (-7.1%) and Taiwan (Chinese) (-10.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, the United States and Germany increased by +31, +6.1 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($1.3B) remains the largest objective lens supplier worldwide, comprising 27% of global exports. The second position in the ranking was taken by China ($568M), with a 12% share of global exports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Japan stood at -4.0%. The remaining exporting countries recorded the following average annual rates of exports growth: China (-8.9% per year) and the Netherlands (-1.7% per year).

Export Prices By Country

The average objective lens export price stood at $227 per unit in 2022, surging by 8.6% against the previous year. In general, the export price, however, showed a deep downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 21%. The global export price peaked at $435 per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($710 per unit), while Thailand ($29 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform