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TFT-LCD Market Is Growing At A CAGR Of 4.8% In Fhe Forecast Period Of 2019-2024

Author: Mathew Williams
by Mathew Williams
Posted: Dec 13, 2019

According to a new report by EMR titled, ‘Global TFT-LCD Market Report and Forecast 2019-2024’, the global TFT-LCD market reached a value of USD 149.1 billion in 2018. The global TFT-LCD market is further projected to reach a value of USD 199.4 billion by 2024, growing at a CAGR of 4.8% in the forecast period of 2019-2024.

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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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Market Analysis by Types:

  • Small Size TFT’s
  • Medium Size TFT’s
  • Large Size TFT’s

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.

Market Analysis by Applications:

  • TVs
  • Mobile Phones
  • Monitors
  • Tablets
  • Mobile PCs
  • Automotive Industry
  • Others

TFT-LCD panels find their application in TVs, mobile phones, mobile PCs, monitors, and automotive industry, among others.

Market Analysis by Regions:

  • North America
  • Europe
  • Asia Pacific
  • ROW

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 2019-2024 with a CAGR of 5.1% 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 2018 with an over 85% market share.
  • TVs are the largest application sector for TFT-LCD, accounting for over 40% of the demand in 2018.
  • 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 (2014-2018) and forecasted (2019-2024) 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 2017.

Competitive Landscape & Supplier Analysis:

  • Samsung Electronics Co. Ltd.
  • Innolux Corporation (Che Mei Optoelectronics Corp.)
  • AU Optronics Corp.
  • BOE Technology Group Co. Ltd.
  • LG Display Co. Ltd.

About Us

Expert Market Research (EMR) is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At EMR, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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About the Author

Hi Guys, I am a Business Consultant in the company named Expert Market Research. I have 5 years of work experience. You can contact me at my personal number for any query at +1(415)325-5166 or email me at sales@expertmarketresea

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Author: Mathew Williams

Mathew Williams

Member since: Dec 10, 2019
Published articles: 10

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