Optical Telescope Market

The global optical telescope market is expected to continue growing with a forecasted increase in consumption, production, imports, and exports over the period from 2022 to 2030. Market performance is projected to see a rise in both volume and value, with key consuming countries like China, the United States, and India leading the way. The article highlights trends in market consumption, production, imports, and exports, providing insights into the growth patterns and fluctuations observed over the years.

Market Forecast

Driven by increasing demand for optical telescopes worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market volume to 14M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market value to $1.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Optical Telescopes

In 2022, approx. 12M units of optical telescopes were consumed worldwide; picking up by 19% compared with the previous year. The total consumption volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked at 12M units in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

The global optical telescope market value surged to $1.3B in 2022, rising by 24% 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 saw a resilient increase. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (3.3M units), the United States (2.4M units) and India (1.9M units), with a combined 64% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by India (with a CAGR of +109.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, India ($310M) led the market, alone. The second position in the ranking was held by the United States ($134M). It was followed by China.

In India, the optical telescope market expanded at an average annual rate of +105.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+4.2% per year) and China (+2.2% per year).

The countries with the highest levels of optical telescope per capita consumption in 2022 were Chile (12 units per 1000 persons), the United States (7.3 units per 1000 persons) and Canada (6.3 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +107.2%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Optical Telescopes

Global optical telescope production reached 13M units in 2022, approximately equating the year before. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 6.1% against the previous year. As a result, production reached the peak volume of 13M units. From 2018 to 2022, global production growth remained at a lower figure.

In value terms, optical telescope production amounted to $704M in 2022 estimated in export price. Over the period under review, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +44.4% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 27%. Global production peaked at $710M in 2017; however, from 2018 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of optical telescope production was China (12M units), accounting for 92% of total volume. It was followed by Hong Kong SAR (273K units), with a 2.2% share of total production.

In China, optical telescope production remained relatively stable over the period from 2012-2022.

Imports

World Imports of Optical Telescopes

In 2022, the amount of optical telescopes imported worldwide expanded sharply to 9.5M units, surging by 7.4% compared with 2021. Overall, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +99.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 43%. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, optical telescope imports dropped slightly to $614M in 2022. In general, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +33.4% against 2017 indices. The pace of growth was the most pronounced in 2021 with an increase of 44%. As a result, imports reached the peak of $643M, and then fell in the following year.

Imports By Country

The United States (2.8M units) and India (1.9M units) represented roughly 49% of total imports in 2022. It was distantly followed by Japan (722K units) and Germany (612K units), together creating a 14% share of total imports. Canada (269K units), the UK (254K units), Chile (241K units), France (213K units), South Korea (185K units), Australia (178K units), Brazil (147K units) and the Netherlands (145K units) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +84.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($157M) constitutes the largest market for imported optical telescopes worldwide, comprising 26% of global imports. The second position in the ranking was held by Germany ($52M), with an 8.5% share of global imports. It was followed by the UK, with a 5.3% share.

In the United States, optical telescope imports expanded at an average annual rate of +5.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+4.5% per year) and the UK (+0.7% per year).

Import Prices By Country

In 2022, the average optical telescope import price amounted to $65 per unit, falling by -11.2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 26% against the previous year. Global import price peaked at $94 per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($136 per unit), while India ($1.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+12.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Optical Telescopes

In 2022, shipments abroad of optical telescopes decreased by -10.6% to 10M units for the first time since 2019, thus ending a two-year rising trend. In general, total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 53% against the previous year. As a result, the exports attained the peak of 11M units, and then reduced in the following year.

In value terms, optical telescope exports reached $730M in 2022. Overall, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +24.5% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 40%. The global exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports By Country

China prevails in exports structure, resulting at 8.3M units, which was near 82% of total exports in 2022. The following exporters - Hong Kong SAR (369K units), Germany (325K units) and the United States (323K units) - together made up 10% of total exports.

From 2012 to 2022, average annual rates of growth with regard to optical telescope exports from China stood at +1.5%. At the same time, Germany (+8.0%) and the United States (+6.1%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing exporter exported in the world, with a CAGR of +8.0% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. Germany (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($280M) remains the largest optical telescope supplier worldwide, comprising 38% of global exports. The second position in the ranking was taken by the United States ($97M), with a 13% share of global exports. It was followed by Germany, with a 5.8% share.

In China, optical telescope exports increased at an average annual rate of +8.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+2.5% per year) and Germany (+4.0% per year).

Export Prices By Country

In 2022, the average optical telescope export price amounted to $72 per unit, with an increase of 12% against the previous year. Over the last decade, it increased at an average annual rate of +4.0%. The pace of growth was the most pronounced in 2019 an increase of 41%. As a result, the export price reached the peak level of $79 per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

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 the United States ($301 per unit), while China ($34 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform