Global Eyeglass Lens Grinding Equipment Market Report 2022: Sector to Reach $2.4 Billion by 2030 at a 5.5% CAGR

DUBLIN, Feb. 16, 2023 /PRNewswire/ -- The "Global Eyeglass Lens Grinding Equipment Market: Segment Analysis by Product Type and by End-user, Estimation and Forecast for 2017-2030" report has been added to ResearchAndMarkets.com's offering.

Global eyeglass lens grinding equipment market to value $2,407.7 million by 2030 from $1500.9 million in 2021 at a CAGR of 5.5% during the forecast period 2022-2030.

The demand for grinding equipment used to produce eyeglasses has been on the rise in recent years. There are a number of reasons for this increase including the fact that more people are now choosing to wear glasses and the popularity of corrective eye surgery.

One of the key reasons why demand for eyeglass lens grinding equipment is growing is because it allows people to get their prescription corrected more quickly and cheaply than if they were to try and do it themselves. In addition, this type of equipment is also becoming increasingly popular among those who are looking for a more extreme Adjustment than what is offered by most optical retailers.

The availability of quality eyeglasses is also playing an important role in driving demand for this type of equipment. More and more people are starting to realize the importance of having good vision and are looking for ways to get the best possible prescriptions without having to go through a lot of hassle or inconvenience. There are a number of different types of eyeglass lens grinding equipment available on the market these days, so there is sure to be something that meets your specific needs.

Market Dynamics

Drivers

• Aging Population: As the population ages, more and more people become susceptible to vision problems, including eyeglass lens problems. Many older individuals choose to have their eyeglasses repaired or replaced using grinding equipment, as this process offers a quicker and more cost-effective solution than undergoing surgery.

• Growing Numbers of People with Prescription Glasses: Prescription glasses are becoming increasingly common, as they allow people to see better while maintaining a sense of privacy. This trend is likely to continue as more and more people adopt a lifestyle that includes commuting and interacting with others outdoors.

• Improved Technology Means More People Can Enjoy Better Vision: The development of new eyeglass lens technologies has led to larger and better-quality eyeglasses. This has led to an increase in the number of people who need eyeglasses but cannot afford traditional glasses formats such as sunglasses.

Restraints

• High Cost: One of the biggest factors limiting the demand for eyeglass grinding equipment market is the high cost of the equipment. The machines used in this process can cost up to $10,000, which makes them out of reach for many small businesses and individual lens wearers.
• Limited Availability: Another obstacle to higher demand for eyeglasses grinding equipment is the limited availability of skilled technicians. This is because most experts in this field are already employed in other areas, such as optics or mechanical engineering.
• Skilled Labor Shortage: Another problem contributing to slow demand for eyeglass grinding equipment market is a skilled labor shortage. This shortage is caused by a number of factors, such as an ageing population and decreased birth rates. As a result, many people who could be trained in this field are instead choosing to pursue other options.

Regional Insights

Global eyeglass lens grinding equipment market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Wherein, Asia Pacific is holding over 40% market share. In 2021, the region generated revenue of $617.6 million thanks to strong presence of equipment manufacturer and strong consumer base. It was also observed that most of the players in the region, especially manufacturers based in the China are exporting a significant amount of their product outside the country especially to countries in Europe and Asia Pacific. In fact, there are more than 23 different companies that make grinding gear in the China and India. Wherein, the top 10 manufacturers in the Asia Pacific eyeglass lens grinding equipment market represent over 70% of the regional market share.

Segment Overview
By Product Type

• Manual Eyeglass Lens Edger
• Automatic Eyeglass Lens Edger
• Semi-automatic Eyeglass Lens Edger

By product type, the global eyeglass grinding equipment market is dominated by manual eyeglass lens edger. The segment captured around 40% market share in 2021 and is growing at a healthy CAGR. On the other hand, automatic eyeglass lens edger is growing at highest CAGR of 6.5% and is projected to continue the same in the years to come.

The popularity of automatic eyeglass lens edgers is likely due to a couple reasons. First, they're fast and easy - professionals don't need any special tools or training to use one. Second, they're effective - they help to correct vision quickly and easily. The report found that 21% of optometrists currently offer this service to their patients. This number is expected to continue to grow as more people become aware of the benefits of eyeglass lens edging.

By End User

• Optical Manufacturers
• Independent Lab
• Optical Shop
• Eye Hospital
• Others

By end users, optical manufacturers are dominating the global eyeglass grinding equipment market. The segment is projected to generate a revenue of more than $950 million by end the of the forecast period, 2022-2030. On contrary, optical shop are driving the demand for eyeglass grinding equipment at the fastest CAGR of more than 6%.

The study found that the top three categories of eyeglass grinding equipment purchased by optical manufacturers were fine-tuning machines, ceramic abrasive belts and sanders. Fine-tuning machines were used to sharpen lenses, while ceramic abrasive belts and sanders were used to remove scratches and other defects from lenses.

The report predicts that demand for this type of equipment will increase as users seek to improve their eyeglasses' accuracy and reliability. The report attributed the growth in demand to the increasing popularity of prescription eyeglasses, as well as the challenge of manufacturing lenses with optically correct shapes and sizes.

Global eyeglass grinding equipment market Report Answers Questions Such As:

• What is the market size and forecast of the Global eyeglass grinding equipment market?
• What are the inhibiting factors and impact of COVID-19 on the Global eyeglass grinding equipment market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global eyeglass grinding equipment market?
• What is the competitive strategic window for opportunities in the Global eyeglass grinding equipment market?
• What are the technology trends and regulatory frameworks in the Global eyeglass grinding equipment market?
• What is the market share of the leading players in the Global eyeglass grinding equipment market?
• What modes and strategic moves are considered favorable for entering the Global eyeglass grinding equipment market?

Key Topics Covered:

Chapter 1. Research Framework

Chapter 2. Research Methodology

Chapter 3. Executive Summary: Global Eyeglass Lens Grinding Equipment Market

Chapter 4. Global Eyeglass Lens Grinding Equipment Market Overview

Chapter 5. Eyeglass Lens Grinding Equipment Market Analysis, By Product Type

Chapter 6. Eyeglass Lens Grinding Equipment Market Analysis, By End User

Chapter 7. Eyeglass Lens Grinding Equipment Market Analysis, By Region

Chapter 8. North America Eyeglass Lens Grinding Equipment Market Analysis

Chapter 9. Europe Eyeglass Lens Grinding Equipment Market Analysis

Chapter 10. Asia Pacific Eyeglass Lens Grinding Equipment Market Analysis

Chapter 11. Middle East & Africa Eyeglass Lens Grinding Equipment Market Analysis

Chapter 12. South America Eyeglass Lens Grinding Equipment Market Analysis

Chapter 13. Company Profile

A selection of companies mentioned in this report includes

• Luneau Technology Group
• Nidek
• Essilor Instruments
• Huvitz Co ltd
• Topcon Corporation
• MEI Systems
• Dia Optical
• Fuji Gankyo Kikai
• Supore

For more information about this report visit https://www.researchandmarkets.com/r/n21mc4-eyeglass?w=5

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets 
Laura Wood, Senior Manager 
[email protected]  

For E.S.T Office Hours Call +1-917-300-0470 
For U.S./CAN Toll Free Call +1-800-526-8630 
For GMT Office Hours Call +353-1-416-8900 

U.S. Fax: 646-607-1907 
Fax (outside U.S.): +353-1-481-1716

Logo: http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets