Optical Lens Cutter and Edger Market

Optical Lens Cutter and Edger Market Outlook (2022-2032)

The global optical lens cutter and edger market size is estimated at US$ 402.4 million in 2022 and is projected to expand at a high CAGR of 9.2% to reach a market valuation of US$ 973.2 million by the end of 2032.

Report Attributes	Details
Optical Lens Cutter and Edger Market Size (2021A)	US$ 373.9 Million
Estimated Market Value (2022E)	US$ 402.4 Million
Forecasted Market Value (2032F)	US$ 973.2 Million
Global Market Growth Rate (2022-2032)	CAGR 9.2 %
North America Market Share (2021)	~28.8 %
North America Growth Rate (2022-2032)	CAGR 9.5 %
U.S. Growth Rate (2022-2032)	CAGR 8.0%
Market Share of Top 5 Companies	~32%
Key Companies Profiled	Coburn Technologies Inc. Danyang Huasu Optical Co., Ltd Essilor International S.A. Huvitz Corp. MEI System NIDEK CO., LTD. Santinelli International Shanghai Supore Instruments Co. Ltd.

Revenue from optical lens cutter and edger sales accounted for nearly 2%-3% of the global ophthalmic equipment and machinery market in 2021, which is forecast to rise to 6%-7% by 2032. This is mainly due to the growing number of spectacles users and the emergence of blue cut and UV-protected technology in lenses.

Optical Lens Cutter and Edger Demand Analysis (2017-2021) Vs. Market Forecast Outlook (2022-2032)

As per latest market analysis by Fact.MR, a market research and competitive intelligence provider, application of optical lens cutters and edgers over the past half-decade increased at a CAGR of around 4%. Online sales reach a valuation of US$ 118.5 million in 2021, in which, company-owned websites accounted for nearly 40% of unit sales.

Based on Fact.MR research, around 47,980 units of optical lens cutters and edgers were sold, including optical lens cutters, lens edgers, and hybrid products, in 2021 across the globe. Emergence of automatic technologies in optical lens cutting and edging solutions is set to improve product penetration by 2X over the assessment period.

Moreover, the utilization of automatic products is to reduce the operational time and processing cost for eye specialty stores. This improves precision and provides top-notch cutting and edging solutions in less time to end users.

In addition, swelling number of spectacles users is likely to push the demand for lens cutters and edgers across the globe. According to Fact.MR analysis, around 4 billion people globally use spectacles in their daily life, which is around 50% of the global population.

High usage of smartphones, laptops, and other electronic equipment is projected to create abundant demand for spectacles over the coming years. This phenomenon will directly affect the shipments of lens finishing equipment, since it provides a better appearance and clean edges to optical lenses.

The education system across the globe has been transformed drastically owing to the integration of technology in learning, leading to the introduction of online classes in education systems. Due to this, a sudden increase in the shipments of spectacles has been observed. This market scenario is projected to supplement the demand outlook for lens cutters and edgers during the assessment period.

What are the Various Factors Driving Demand for Optical Lens Cutters and Edgers?

“Automatic Lens Edgers – A Game Changer”

Emergence of automatic technology in optical lens cutters and edgers has eliminated the usage of water for finishing operations. Automatic lens edgers provide advanced dry cutting and edging technology in a single machine along with auto-calibration technology.

Integration of automation has provided various technical advantages such as auto-calibration and improved versatility of products over other sustainable cutters and lens edgers. Offerings of such advanced machinery are set to drive product demand over the assessment period.

“Product Customization & Use of Sustainable Materials”

Moreover, leading manufacturers of optical lens cutters and edgers are adopting the strategy of customization to attract new consumers. Top-notch customization as per customer demand, improving consumer comfort, and boosting functionality are likely to drive their revenue going forward.

Additionally, manufacturers are trying to provide sustainable materials for their machinery to attract new customers and diversify their product ranges. Customization in lens edgers and cutters is considered to be a game-changer, as a majority of end users, especially eye specialty stores, do not use standard products due to changes in blade size, speed regulation, size, and other parameters.

Increasing demand for automatic lens cutters due to their various technical benefits is anticipated to drive market growth and improve product penetration during the coming years.

How is the Optical Lens Cutter and Edger Being Prevented from Reaching its Full Potential?

“Gradual Shift toward Contactless Lenses”

Shifting consumer preference toward contactless lenses is likely to affect the sale of conventional lenses and limit the unit shipments of lens edgers and cutters in the near future. This is because contactless lenses require laser cutting technology for finishing and fitting.

The adult population is the consumer block in the optical instrument market and accounts for almost 2/3 of the demand around the globe, out of which, 11% utilize contactless lenses in their day-to-day lives.

The availability of attractive products in the lens segment has shifted their interest toward contactless lenses. This market phenomenon is set to reduce the sale penetration of lens cutters and edgers in the global market and lead to a decline in demand in the near future.

“Semiconductor Shortage Impeding Market Expansion”

In addition, the automatic product range of lens edgers and cutters utilizes several semiconductor and electronic components. During the COVID pandemic, a major drop in the manufacturing of semiconductors resulted in shortages across the globe. Factories being shut down was not the only reason, with the tension between superpowers such as the U.S. and China also contributing to trade disruptions.

For instance, the U.S. Government blacklisted Huawei, which supplied systems to American chipmakers. All these factors resulted in a downward trend in the manufacturing of semiconductors, ultimately hampering the machinery market by 15% in 2020 as compared to the previous years.

Country-Wise Analysis

Why is the U.S. an Important Market for Optical Lens Cutter & Edger Manufacturers?

The U.S. optical lens cutter and edger market is considered prominent with the country being the second-largest importer of optical goods in the world. The United States currently accounts for US$ 85 million of value generation from optical lens cutters and edgers.

Rising per capita expenditure on optical accessories and growing number of spectacles users will favor the growth of manufacturers. In addition, the U.S. is estimated to capture 80% of the North American market in 2022 and generate an absolute $ opportunity of US$ 145.2 million over the period of forecast.

Why is China a Powerhouse for Optical Lens Cutters and Edgers?

China has been one of the most lucrative markets for optical lens cutter and edger producers in East Asia as well as the global market. Emergence of several small to large manufacturers has enabled product manufacturing at lower price points as compared to other countries such as the U.S., Germany, and Italy.

China’s optical lens cutter and edger market is estimated to reach US$ 60.2 million in 2022 and is likely to expand at a CAGR of around 10.1% over the decade. As such, China is projected to generate an absolute $ opportunity of US$ 102.2 million by the end of the assessment year and gain 119 BPS over the same period.

Category-Wise Analysis

Will Optical Lens Cutters Continue Experiencing High Demand Growth?

Optical lens cutters currently account for the highest demand from eyewear specialty stores. This is due to fact that they are associated with low price points as compared to hybrid products. Sales of optical lens cutters are anticipated to surge at 8.6% CAGR during the assessment period.

In addition, sales of optical lens edgers are projected to increase at 7.4% CAGR over the decade. This sub-segment is expected to create a valuation of US$ 5.7 million in the global market by the end of 2032.

Why are Optical Lens Cutters & Edger With Water More Preferred by End Users?

With water optical lens cutters and edgers is the most dominating segment in the global market. This vertical is estimated to capture 70% market share in 2022.

In addition, the optical lens cutters and edgers with water segment is set to create an absolute $ opportunity of US$ 422.6 million by the end of the assessment period. However, it is anticipated to lose 108 BPS over the forecast period due to the emergence of automatic technology and surging disposal of waste in water bodies.

Competition Landscape

Coburn Technologies Inc., Danyang Huasu Optical Co., Ltd, Essilor International S.A., Huvitz Corp., MEI System, NIDEK, Santinelli International, Shanghai Supore Instruments Co. Ltd., SK Enterprises, TOPKON, and Ylosdn are key suppliers of optical lens cutters and edgers.

Players from the top two tiers have started the manufacturing of hybrid products.

• For instance, Coburn Technologies Inc, Essilor International S.A., and others are providing versatile products along with dry-cutting technology to attract new customers.

Some manufacturers are even providing free shipping to attract more customers. This strategy will enable abundant opportunities over the decade and strengthen their overall revenue-generating capacity.

Fact.MR has provided detailed information about the price points of top manufacturers of optical lens cutters and edgers positioned across regions, in addition to providing sales growth information, production capacity, and speculative production expansion, in the recently published report.

Key Segments of Optical Lens Cutter and Edger Industry Survey

• Optical Lens Cutter and Edger Market by Product Type:

  • Optical Lens Cutters
  • Optical Lens Edgers
  • Hybrid

• Optical Lens Cutter and Edger Market by Automation:

  • Automatic Optical Lens Cutters and Edgers
  • Semi-automatic Optical Lens Cutters and Edgers
  • Manual Optical Lens Cutters and Edgers

• Optical Lens Cutter and Edger Market by Operation:

  • Optical Lens Cutters and Edgers With Water
  • Optical Lens Cutters and Edgers Without Water

• Optical Lens Cutter and Edger Market by Power Type:

  • Up to 70 W Optical Lens Cutters and Edgers
  • 70-100 W Optical Lens Cutters and Edgers
  • 100-200 W Optical Lens Cutters and Edgers
  • Above 200 W Optical Lens Cutters and Edgers

• Optical Lens Cutter and Edger Market by Sales Channel:

  • Online Sales
    • Company-owned Websites
    • e-Commerce Websites
  • Offline Sales
    • Electronic Stores
    • Franchised
    • Independent
    • Others

• Optical Lens Cutter and Edger Market by Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa