Global Eyewear Market Expected to Reach USD 142.18 Billion by 2020 Industry Applications, Market Size, Segmentation, Company Share - GrandViewResearch,Inc
(PRWEB) March 18, 2014 -- The global market for eyewear is expected to reach USD 142.18 billion by 2020, according to a new study by Grand View Research, Inc. Expanding wearer base coupled with increasing penetration of eyewear for vision correction is expected to fuel market growth over the next six years. A large percentage of the population in rural areas of developing markets does not have access to eye care facilities and services, which represents considerable untapped market potential for industry participants.
The report “Eyewear Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/eyewear-industry.
Inquiry Before Buying at http://www.grandviewresearch.com/inquiry/32.
Early entry of children into the corrective eyewear space as well as aging population is expected to positively impact demand on a global level. Growing urbanization and disposable income, along with awareness regarding the need for protecting the eyes against UV rays has led to high demand for plano sunglasses. Acceptance of alternative methods of vision correction including refractive surgeries such as LASIK and PRK are estimated to restrain market growth over the forecast period.
Further Key findings from the study suggest:
• The global eyewear market was estimated to be 2,750.3 million units in 2012, which is expected to reach 3,507.7 million units by 2020, growing at a CAGR of 3.2% from 2014 to 2020.
• Spectacle frames and lenses accounted for over 50% of the total eyewear shipments in 2012; they also contributed significantly to revenue in the same year. This is primarily on account of high replacement rate of lenses, due to changing prescription. The advent of high-index lenses has also led to a surge in product demand, which is expected to continue through the forecast period. Plano sunglasses are expected to be the fastest growing product segment, at an estimated CAGR of 8.1% in terms of revenue from 2014 to 2020. Demand for high-end sunglasses sold at premium prices is the key factor for high expected revenue generation. Polarized sunglasses contributed over 20% of overall shipments in 2012, with CR-39 expected to remain the largest lens material segment.
• North America dominated global demand in 2012; while Asia Pacific is expected to be the fastest growing regional market, at an estimated CAGR of 3.7% from 2014 to 2020. In terms of revenue, Europe accounted for over 40% of the total market in 2012, because of significantly high selling prices as compared to the global average.
• The global market space consists of numerous participants, divided among contact lenses, spectacles and plano sunglasses suppliers. They follow strategies such as product innovation, vertical integration and mergers and acquisitions to gain market share. Establishment of a widespread and effective distribution network is seen as the key to achieving market expansion. Key companies operating in the market include Johnson & Johnson, Bausch & Lomb, CooperVision, Carl Zeiss, Essilor, Luxottica Group S.p.A. and Safilo Group S.p.A. among others.
Brwose All Specialty glass, ceramic & fiber Market Research Reports at http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber.
For the purpose of this study, Grand View Research has segmented the global eyewear market on the basis of product and region:
• Eyewear Product Outlook (Volume, Million Units and Revenue, USD Million; 2012 - 2020)
• Spectacles
• Spectacle Frames
• Spectacle Lenses
• Contact Lenses
• Plano Sunglasses
• Polarized Sunglasses
• Non Polarized Sunglasses
• CR-39 Sunglasses
• Polycarbonate Sunglasses
• Polyurethane Sunglasses
• Others
• Eyewear Regional Outlook (Volume, Million Units and Revenue, USD Million; 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
Direct link for sample request of this report - http://www.grandviewresearch.com/request/32
Related Market Reports Published by GrandViewResearch:
Industrial Silica Sands Industry Trends And Market Segment Forecasts To 2018 (http://www.grandviewresearch.com/industry-analysis/silica-sands-industry) Industrial Silica Sands refers to sands having composition and texture which make it ideally suited for industrial applications. It consists of rounded sands composed of almost pure quartz grains. Silica is the name given to a group of minerals composed of silicon and oxygen, the two most abundant elements on the earth’s surface. Silica Sands is used for a variety of applications such as glass making, construction and hydraulic fracturing or fracking.
Antibacterial Glass Industry Trends And Market Segment Forecasts To 2018 (http://www.grandviewresearch.com/industry-analysis/antibacterial-glass-industry) Antibacterial glass is the one of the latest innovation in the glass market and eliminates bacteria’s and microbes coming in contact with its surface. The glass can be designed by the application of antibacterial coatings such as copper, zinc, silver and titanium or by the infusion of silver into the upper layer of the glass. AGC Glass Europe has the infused glass technology patent since commercial production in 2007 and has end users such as laboratories and hospitals.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Sherry James, Grand View Research, Inc., http://www.grandviewresearch.com/, +1 4153490058, [email protected]
Share this article