Overview of the Market for Optical Instrument And Lens in the USA
In value terms, optical instrument and lens production reached $ in 2019. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of % year-to-year. Over the period under review, production attained the maximum level in 2019 and is expected to retain growth in the near future.
The value of the optical instrument and lens market in the U.S. expanded remarkably to $ in 2019, surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2013 to 2019; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the market value increased by % year-to-year. Over the period under review, the market hit record highs in 2019 and is expected to retain growth in the near future.