Eyewear Market 2020-2024 In-Depth Analysis by Key players | Ampere Vehicles Private Limited, Ather Energy Private Limited, Avon Cycles Limited

The report provides information and the advancing business series information in the sector to the exchange. The report gives an idea associated with the advancement of this market development of significant players of this industry. An examination of this Eyewear market relies upon aims, which are of coordinated into market analysis, is incorporated into the reports.

Over the last decade, there has been a remarkable increase in the use of eyeglasses and contact lenses in India, owing to the rise in eye diseases and vision disorders like myopia, hypermetropia, and presbyopia. Moreover, over time, from functioning as a vision corrective product, eyewear has turned into a fashion accessory. This has further popularized the use of sunglasses and eyeglasses in India.

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This part of the report includes detailed information of the market in different regions. Each region offers different scope to the market as each region has different government policy and other factors. The regions included in the report are North America, South America, Europe, Asia Pacific, and the Middle East.

Top leading companies of the global market are:

Electrotherm (India) Limited

o Ampere Vehicles Private Limited
o Ather Energy Private Limited
o Avon Cycles Limited
o Hero Electric Vehicles Private Limited
o Lohia Auto Private Limited
o NDS Eco Motors Private Limited
o Okinawa Autotech Private Limited
o Tork Motors Private Limited
o Tunwal E-Bike India Private Limited
Market insights

The eyewear market in India was valued at INR 492.37 Bn in 2018, and is expected to reach

INR 966.73 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~11.90%, during the 2019-2024 period. The demand for prescription eyeglasses and contact lenses has picked up in the Indian market, owing to vision disorders, unhealthy lifestyle and age-related impairments among people. Rise in fashion and brand consciousness among the young population of the country and increase in the sale of branded eyewear are some of the important factors fueling the growth of prescription eyewear, as well as sunglasses in the domestic eyewear market. On the other hand, initiatives undertaken by the Indian government like setting up of free eye check-up and vision treatment programs have also contributed towards the growth of the eyewear market in India. However, presence of counterfeit products in the market and the increasing popularity of vision corrective surgeries act as major pitfalls for the market.

Market segmentation analysis

Based on product type, the India eyewear market is segmented into spectacles, sunglasses and contact lenses. Value-wise, in 2018, the spectacles segment captured the highest market share (~70.15%). The segment is expected to continue accounting for the highest market share throughout the forecast period due to unhealthy lifestyles and increasing exposure to display screens. In terms of market revenue, the sunglass and contact lens segments are expected to account for ~18.47% and ~10.60% market shares, respectively, in 2024.

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Key Highlights points of Eyewear Market:

1) Competitive study of the major Eyewear market players will help in analyzing the market driving and business strategies.

2) Analysis of necessary trends impacting to build-up of the market.

3) The deep research study of market based on development opportunities, growth limiting factors and feasibility of investment will forecast the market growth.

4) Analysis of trending factors will be influencing the Market shares in next few years.

5) Establish business expansion plans by referring to substantial growth and projection of emerging markets.

6) The report elaborates on the product sales, revenue accumulated, price patterns, and gross margins.

Furthermore, the study provides a comprehensive overview of regional distribution and the overview of product types in the market. It explains how key companies and mid-level manufacturers are making a profit within the Eyewear industry. In short, the report on Eyewear is an esteemed source for both the individuals as well as the businesses as it provides detailed SWOT analysis and new project investments feasibility study.

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