According to a recent market study published by Growth Market Reports, titled, “Global Optical Table Market by Type, by Material Type, by Magnetism, by Application, by Industry Vertical, by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 348.3 Million in 2022 and is expected to grow at a moderate growth rate of 9.1% by the year 2031.

Get Sample Report @ https://growthmarketreports.com/request-sample/5816

As per Growth Market Reports industry analyst Akash Vedpathak, “Global Optical Table Market is anticipated to witness significant growth during the forecast period 2023-2031. An optical table is used to reduce the impact of natural vibrations on the alignment of items/elements being inspected or created. These tables are designed to be exceptionally stiff and unyielding.

Key factors that are anticipated to fuel the demand for the global Optical Table market during the forecast period are rising photonics and quantum optics applications, rising military and aerospace expenditures, increasing research & development (R&D), and expanding telecommunications infrastructure. Conversely, regulatory and safety compliance and high production and maintenance costs may hamper the market growth of the Optical Table market. Advancements in semiconductor manufacturing create opportunities in the market.

Supply chain management is a pivotal part of any business. A supply chain involves a series of steps to get Optical Table, products, sizes, and distribution from their primary state to customers. These steps include development, engagement with customers, and delivering and supporting the Optical Table. Entities in the supply chain include raw material/component suppliers, manufacturers, finance, distributors, and customers.

The primary, as well as secondary research methodology, is used for keen observation and study about Optical Table market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews conducted with the stakeholders across industry verticals on regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, current and future trends done from the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess the experience of around 10-20 years in the industry. On the other-hand the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases analyzed for macro & micro analysis. Research publications and paid data referred to obtain and validate the market estimations, budget, expenditure and other statistical insights.

COVID-19 was classified as a pandemic by the World Health Organization (WHO) in March 2020. The COVID-19 pandemic decreased the semiconductor demand in several important areas. Preventive measures imposed by the government, such as emergency lockdowns, travel restrictions, and health & safety measures in order to mitigate the spread of the virus, caused certain delays, shortages, or price fluctuations. This affected both the demand and supply of raw materials, such as aluminum, steel, granite, rubber, metals, and minerals that are used to produce optical tables. Many semiconductor manufacturing companies postponed their projects and hesitated to invest in R&D for optical tables, owing to a reduction in revenues. This led to potential constraints in the global optical table market, affecting production and potentially causing price fluctuations. The pandemic showed the importance of resilience and diversification in the semiconductor industry, which is closely related to the optical technology sector. The pandemic exposed some vulnerabilities and bottlenecks in the semiconductor supply chain, such as the over-reliance on a few suppliers or the lack of flexibility and agility to respond to changing demand patterns.

Many research institutions scaled back their projects during the pandemic, which led to a sharp decline in the purchase of optical tables and related equipment. According to the report published in the US National Library of Medicine in 2020, the pandemic delayed subject enrollment and operational gaps in the majority of ongoing clinical trials. This affected trial programs and data integrity. Globally, the majority of facilities that perform clinical trials other than COVID-19, experienced timeline delays in performing these tests. According to Evaluate Pharma, clinical trials were one of the first pandemic casualties, with a record number of 160 studies suspended for reasons related to COVID-19 in April 2020, reporting a total of 1,200 trials suspended as of July 2020. However, the adverse impact was eventually mitigated by a number of strategic steps implemented by regulatory organizations, governments, and market parties to assure the continuation of R&D. The need to develop a coronavirus vaccine pushed the use of decentralized clinical trials. The International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) issued guidelines to progress COVID-19 vaccination equity urgently, which increased the demand for optical tables, as they were critical in performing efficient and accurate tests.

Key Takeaways from the Study:

  • In terms of Type, the research segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

  • Based on Material Type, the steel segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

  • On the basis of Magnetism, the magnetic segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

  • In terms of Application, the microscopy segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

  • Based on the Industry Vertical, the Research & Academic Institutions segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

Report Scope:

Report Metric

Details

Market Value in 2022

US$ 348.3 Million

Market Growth Rate (from 2016 to 2031)

9.1%

Historical Data

2016-2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (USD Million)

Market Segments

By Type, By Material Type, By Magnetism, By Application, By Industry Vertical, By Region

Key Companies Profiled

Thorlabs, Inc., Newport Corporation, Zolix, TMC, DAEIL SYSTEMS CO., LTD., Kinetic Systems, Inc., Beijing Winner Optical Instrument Co., Beijing PDV Instrument Co., Ltd, Holmarc Opto-Mechatronics Ltd., Crescent Components and Components, Jiangxi Liansheng Technology Co., Ltd., Tianjin Labor Scientific instruments Co. Ltd

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

 

Target Audience:

  • Supply-side: Manufacturers, Raw Material/Component Suppliers, and Distributors

  • Demand Side: Government Agencies, Consulting Firms, Private Research and Development Firms, Equity Firms, and Investment Firms.