China: Mounted Lens Market 2024

Mounted Lens Market Size in China

For the eleventh year in a row, the Chinese mounted lens market recorded growth in sales value, which increased by 14% to $X in 2022. Over the period under review, consumption continues to indicate a significant expansion. Mounted lens consumption peaked in 2022 and is expected to retain growth in the immediate term.

Mounted Lens Production in China

In value terms, mounted lens production surged to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt curtailment. Mounted lens production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Mounted Lens Exports

Exports from China

In 2022, after ten years of growth, there was significant decline in overseas shipments of mounted lenses, prisms and mirrors, when their volume decreased by -9.4% to X units. In general, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. As a result, the exports reached the peak of X units, and then fell in the following year.

In value terms, mounted lens exports rose to $X in 2022. Overall, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2015 when exports increased by 31%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X units) was the main destination for mounted lens exports from China, with a 13% share of total exports. Moreover, mounted lens exports to the United States exceeded the volume sent to the second major destination, South Korea (X units), twofold. The third position in this ranking was taken by Germany (X units), with a 5.9% share.

From 2020 to 2022, the average annual growth rate of volume to the United States stood at -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-0.0% per year) and Germany (+1.4% per year).

In value terms, the United States ($X), Germany ($X) and South Korea ($X) constituted the largest markets for mounted lens exported from China worldwide, together accounting for 35% of total exports. Sweden, Japan, Hungary, Romania, Singapore, the UK, the Philippines, Vietnam, Mexico and Thailand lagged somewhat behind, together comprising a further 37%.

Vietnam, with a CAGR of +76.3%, recorded the highest growth rate of the value of exports, among 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

In 2022, the average mounted lens export price amounted to $X per unit, with an increase of 14% against the previous year. Over the period from 2020 to 2022, it increased at an average annual rate of +6.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Thailand ($X per unit) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+39.6%), while the prices for the other major destinations experienced more modest paces of growth.

Mounted Lens Imports

Imports into China

In 2022, the amount of mounted lenses, prisms and mirrors imported into China reached X units, remaining constant against the previous year. Over the period under review, imports saw a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 760% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, mounted lens imports expanded remarkably to $X in 2022. In general, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 73%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of mounted lens to China, accounting for a 31% share of total imports. Moreover, mounted lens imports from Japan exceeded the figures recorded by the second-largest supplier, South Korea (X units), fivefold. Germany (X units) ranked third in terms of total imports with a 2.2% share.

From 2020 to 2022, the average annual rate of growth in terms of volume from Japan amounted to +1,280.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+458.7% per year) and Germany (+565.1% per year).

In value terms, the largest mounted lens suppliers to China were Japan ($X), South Korea ($X) and Germany ($X), with a combined 51% share of total imports.

Among the main suppliers, Germany, with a CAGR of +23.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mounted lens import price stood at $X per unit in 2022, surging by 9.9% against the previous year. In general, the import price, however, showed a precipitous descent. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-81.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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