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Global TFT-LCD Display Panel Market to Grow at a CAGR of 4.2% During 2021-2026, Aided by the Increasing Demand for Consumer Electronics

According to a new report by EMR titled, ‘Global TFT-LCD display panel Market Report and Forecast 2021-2026’, the market reached a value of USD 167 billion in 2020. The industry is further projected to grow at a CAGR of 4.2% between 2021 and 2026 to reach USD 216.5 billion by 2026.

TFT or thin-film transistor is combined with LCD to improve colour quality leading to a sharper image, as each pixel on a TFT-LCD is attached to a transistor. Due to the small sizes of each transistor, TFT-LCD display panels consume less power. They are widely used in computers, TVs, laptops, and mobile phones as it gives a more enhanced image than older technologies and prevents the distortion of image.

With the growing applications of TFT-LCD, there has been an increased competition among the manufacturers for the best cutting technology, i.e. ‘generations’, to produce TFT-LCD panels. In 2017, BOE, one of the major TFT-LCD manufacturers globally, put the world’s highest generation line, Generation 10.5 TFT-LCD production line, into production ahead of schedule in Hefei, China. With more Gen 10.5 facilities starting mass production, the market is primed for the production of 65 inches and larger TFT-LCD panels. More than 85.5% of the TFT-LCD display panels consumed in 2018 were large-sized panels sized over 10 inches.

Driven by the demand for TFT-LCD display panels in TV and monitor panels, the global shipment of large TFT-LCD panels grew again in 2018, despite over-supply concerns. The market is also driven by a rising demand for automotive displays. While automotive display systems were earlier reserved for luxury vehicles, cars for the mass-market are increasingly including high resolution display systems in their design due to a decline in prices along with the rising production and demand for automobiles. This growth in automotive displays has been supported by the rising investments in automotive display panels by big display panel manufacturers in Asia. The Asia Pacific countries like China and India are the fastest growing markets in the region due to rapid economic growth and a growing demand for consumer-based electronics. Currently, the global market for TFT-LCD display panel is dominated by North America.

Market Analysis by Size, Application, and Region:

  • Based on size, the market has been bifurcated into large size and medium and small size. 
  • On the basis of application, the industry is categorised into television, mobile phones, mobile PCs, monitors, and automotive, among others.
  • Region-wise, the global market for TFT-LCD display panel can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The TFT-LCD display panel industry is expected to be driven by the rising demand in emerging nations like India, China, and others.
  • The growing demand for consumer electronics like PCs, laptops, LCD TVs, and others have been driving the market growth.
  • Portable, small-sized tablets have seen a rising demand from the educational and commercial sectors, providing further impetus to the market.
  • The growing trend of 3D cinema and a fast-developing gaming industry have also aided the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for TFT-LCD display panel for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the sizes, applications, and major regions of TFT-LCD display panel.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global TFT-LCD display panel market are Samsung, LG Electronics Inc., Sharp Electronics Corporation, BOE Technology Group Co., Ltd., and AU Optronics Corp, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence companies, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and evergrowing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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