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The global TFT-LCD market is further projected to reach a value of USD 221.60 billion by 2026, growing at a CAGR of 5.8% in the forecast period of 2021-2026.
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. Based on the type of substrate glass, TFT-LCD display panels are divided into various ‘generations’. In the past fifteen years, over ten generations of TFT-LCD have been developed due to rapid advancements in technology. Japan is the leading player in developing these technologies. Currently, Generation 8 is the most popular TFT-LCD type.
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. 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 TFT-LCD market is dominated by North America.
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Samsung Electronics Co. Ltd., Innolux Corporation (Che Mei Optoelectronics Corp.), AU Optronics Corp., BOE Technology Group Co. Ltd., and LG Display Co. Ltd. are the major players in the global TFT-LCD market analysed by EMR. The report by EMR gives an in-depth insight into the competitive landscape of the global TFT-LCD market including the latest developments among the key players like their market share, capacity expansions, plant turnarounds, and mergers and expansions.
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