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Global TFT-LCD Market to Grow at a CAGR of 5.8% between 2021-2026.

According to a new report by EMR titled, ‘Global TFT-LCD Market Report and Forecast 2021-2026’, the global TFT-LCD market reached a value of USD 167.16 billion in 2021.

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.

Click here for view the summary of report:

Market Analysis by Types, Applications and Regions:

  • TFT-LCD display panels are divided into different generations depending on the mother glass size used during the manufacture of the panels.
  • Depending on their size, the panels can be categorized as small, medium and large sized TFT-LCD display panels. 
  • TFT-LCD panels find their application in TVs, mobile phones, mobile PCs, monitors, and automotive industry, among others.
  • Region-wise, the market is divided into North America, Asia Pacific, Europe and ROW.

Key Findings of the Report:

  • The global display market is expected to see a healthy growth in 2021-2026 with a CAGR of 5.0% driven by the demand in emerging economies in Asia Pacific like India, China, Korea and Taiwan, among others.
  • TFT-LCD display panels dominated the global display market in 2020 with an over 85% market share. 
  • TVs are the largest application sector for TFT-LCD, accounting for over 40% of the demand in 2020.
  • The growing demand for consumer electronics like PCs, laptops, LCD TVs and others have been driving the market.
  • 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 TFT-LCD market. 

Key Offerings of the Report:

  • This EMR report analyses the global display as well as the TFT-LCD market, with a special focus on the Chinese and Indian markets.
  • The report gives insights into the historical (2016-2021) and forecasted (2021-2026) sales value of the global display market and the TFT-LCD market.
  • It analyses the major exporting and importing countries by their value and volume in the year 2018. 

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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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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