Luxembourg: Objective Lens Market 2024

Objective Lens Market Size in Luxembourg

In 2021, after two years of growth, there was significant decline in the Luxembourg objective lens market, when its value decreased by -15.5% to $X. Overall, consumption continues to indicate a noticeable expansion. As a result, consumption reached the peak level of $X, and then contracted sharply in the following year.

Objective Lens Exports

Exports from Luxembourg

Objective lens exports from Luxembourg surged to X units in 2021, picking up by 692% compared with 2020. Over the period under review, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, objective lens exports surged to $X in 2021. In general, exports continue to indicate a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X units) was the main destination for objective lens exports from Luxembourg, accounting for a 38% share of total exports. Moreover, objective lens exports to Sweden exceeded the volume sent to the second major destination, Belgium (X units), threefold. Poland (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden amounted to +2,337.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+48.4% per year) and Poland (0.0% per year).

In value terms, Sweden ($X) emerged as the key foreign market for objective lenses for cameras, projectors or photographic enlargers or reducers exports from Luxembourg, comprising 49% of total exports. The second position in the ranking was held by Belgium ($X), with a 15% share of total exports. It was followed by Finland, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden stood at +1,413.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+30.6% per year) and Finland (+34.9% per year).

Export Prices by Country

In 2021, the average objective lens export price amounted to $X per unit, declining by -45.9% against the previous year. Overall, the export price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 5% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per unit), while the average price for exports to Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (-2.0%), while the prices for the other major destinations experienced a decline.

Objective Lens Imports

Imports into Luxembourg

For the third consecutive year, Luxembourg recorded growth in purchases abroad of objective lenses for cameras, projectors or photographic enlargers or reducers, which increased by 75% to X units in 2021. Overall, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 82% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, objective lens imports surged to $X in 2021. Over the period under review, total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +139.5% against 2016 indices. The pace of growth was the most pronounced in 2019 with an increase of 45% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

The Netherlands (X units), Belgium (X units) and France (X units) were the main suppliers of objective lens imports to Luxembourg, with a combined 73% share of total imports. These countries were followed by Germany, Japan, the United States and Poland, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +82.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest objective lens suppliers to Luxembourg were the Netherlands ($X), Belgium ($X) and the United States ($X), together accounting for 69% of total imports.

The United States, with a CAGR of +82.7%, 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

In 2021, the average objective lens import price amounted to $X per unit, shrinking by -33% against the previous year. In general, the import price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2018 when the average import price increased by 4.7%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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