U.S.: Market for Optical Instruments And Lens 2024

Market Size for Optical Instruments And Lens in the U.S.

For the third year in a row, the U.S. optical instrument and lens market recorded growth in sales value, which increased by X% to $X in 2023. Over the period under review, consumption saw mild growth. Optical instrument and lens consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Production of Optical Instruments And Lens in the U.S.

In value terms, optical instrument and lens production stood at $X in 2023. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Exports of Optical Instruments And Lens

Exports from the U.S.

In 2023, overseas shipments of optical instruments and lens decreased by X% to X units, falling for the second year in a row after two years of growth. Overall, exports, however, recorded a measured expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, optical instrument and lens exports declined to $X in 2023. The total export value increased at an average annual rate of X% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at $X in 2022, and then fell in the following year.

Exports by Country

South Korea (X units), Mexico (X units) and China (X units) were the main destinations of optical instrument and lens exports from the United States, together accounting for X% of total exports.

From 2013 to 2023, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for optical instrument and lens exported from the United States were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined X% share of total exports.

China, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average optical instrument and lens export price stood at $X per unit in 2023, jumping by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to India ($X per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced a decline.

Imports of Optical Instruments And Lens

Imports into the U.S.

In 2023, supplies from abroad of optical instruments and lens decreased by X% to X units, falling for the second consecutive year after five years of growth. In general, imports, however, posted tangible growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at X units in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, optical instrument and lens imports dropped to $X in 2023. The total import value increased at an average annual rate of X% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Germany (X units) and Canada (X units) were the main suppliers of optical instrument and lens imports to the United States, together comprising X% of total imports. Japan, South Korea, Taiwan (Chinese), Israel, Vietnam, the UK, Hong Kong SAR, Malaysia, Mexico and the Czech Republic lagged somewhat behind, together accounting for a further X%.

From 2013 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Germany ($X) appeared to be the largest optical instrument and lens suppliers to the United States, together accounting for X% of total imports. Canada, Taiwan (Chinese), Israel, Mexico, the UK, Vietnam, South Korea, Malaysia, the Czech Republic and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average optical instrument and lens import price stood at $X per unit in 2023, dropping by X% against the previous year. Overall, the import price saw a noticeable decrease. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform