The aspherical lens market has seen considerable growth due to a variety of factors.
•In the last few years, the market size of the aspherical lens has seen significant expansion. Projected to increase from $8.91 billion in 2024 to $9.51 billion in 2025, it has a compound annual growth rate (CAGR) of 6.7%.
This growth during the historic period is likely the result of a surge in demand for top-notch imaging, the expansion of the healthcare sector, the rise in consumer electronics, applications in the automotive sector, and emerging trends in photography and videography.
The aspherical lens market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for the aspherical lens market forecast suggest a substantial expansion in the coming years, reaching a worth of "$12.79 billion by 2029 and a compound annual growth rate (CAGR) of 7.7%.
The anticipated growth within this period is largely driven by the swift rise of augmented reality (AR) and virtual reality (VR), ongoing advancements in imaging technologies, the evolution of the automotive industry, the increasing relevance of lidar technology, and the broadened use in industrial and scientific instruments. Key trends projected for this period feature precision manufacturing methods, an upswing in 3d sensing technology, use of optical systems in aerospace and defense, the creation of more lightweight and compact optics, along with niche and customized lens designs.
The aspherical lens market is projected to grow due to the anticipated rise in vehicle production. Vehicle production is the large-scale manufacturing of similar models, which are sold to the general public and are lawfully permitted to be driven on public roads. Aspherical lenses serve a critical role in automotive headlamp lighting by maintaining a consistent focal length, which enhances vehicle performance and simplifies driving while bolstering road safety. For example, Statistics Canada, the national statistical agency of Canada, reported in January 2024 that Canada experienced a surge in new motor vehicle sales in 2023, reaching 1,755,741 units. This represents a 12.7% rise (an addition of 197,504 units) compared to 2022. As a result, the upswing in vehicle production is contributing to the expansion of the aspherical lens market.
The aspherical lens market covered in this report is segmented –
1) By Type: Glass Aspherical Lens, Plastic Aspherical Lens, Other Types
2) By Manufacturing Technology: Molding, Polishing, Other Technologies
3) By Offering: Single Aspherical Lens, Double Aspherical Lens
4) By Application: Consumer Electronics, Digital Cameras, Automotive, Ophthalmic, Fiber Optics, Other Applications
Subsegments:
1) By Glass Aspherical Lens: Molded Glass Aspherical Lenses, Ground Glass Aspherical Lenses
2) By Plastic Aspherical Lens: Injection-Molded Plastic Aspherical Lenses, Hybrid Plastic Aspherical Lenses
3) By Other Types: Coated Aspherical Lenses, Custom-Made Aspherical Lenses
The emergence of product innovations is a notable trend in the aspherical lens market, with companies leveraging new technologies to maintain their standing within the industry. Sony Corporation, a consumer and professional electronic products manufacturer based in Japan, for instance, unveiled the FE 20-70mm F4 G, a novel spherical lens featuring an ultra-wide 20-70 mm zoom range, in January 2023. The lens, utilizing Sony's latest technological advancements, provides unparalleled G Lens image quality in a small, lightweight construct. The lens's advanced optical design, encompassing two Advanced Aspherical (AA) elements, one aspherical element, three Extra-Low Dispersion (ED) glass elements, and one ED aspherical element, collectively rectifies chromatic and spherical aberration, ensuring outstanding optical performance throughout the entire zoom range.
Major companies operating in the aspherical lens market include:
• Nikon Corporation
• Canon Inc.
• Panasonic Holding Corporation
• Hoya Corporation
• AGC Inc.
• Schott AG
• Carl Zeiss AG
• Tokai Optical Co. Ltd.
• Seiko Optical Products Co. Ltd.
• Calin Technology Co. Ltd.
• Sunny Optical Technology Company Limited
• Zhejiang Lante Optics Co. Ltd.
• Mingyue Optical Lens Co. Ltd.
• Hyperion Optics Inc.
• Jenoptik AG
• Knight Optical Ltd.
• Dg Optoelectronics
• Olympus Corporation
• Tamron Co. Ltd.
• Sony Corporation
• Fujifilm Holdings Corporation
• Konica Minolta Inc.
• Samsung Electronics Co. Ltd.
• LG Electronics Inc.
• Pentax Corporation
• Sigma Corporation
• Leica Camera AG
• Schneider Optische Werke GmbH
• Rodenstock GmbH
• Edmund Optics Inc.
• Thorlabs Inc.
• Largan Precision Co. Ltd.
• Fujian Forecam Optics Co. Ltd.
• Kinko Optical Co. Ltd.
• Nanyang Bright Optical Co. Ltd.
Asia-Pacific was the largest region in the aspherical lens market in 2024 and is expected to be the fastest-growing region in the global aspherical lens market report during the forecast period. The regions covered in the aspherical lens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa