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There will be 887 million large-size (9-inch and above) LCD panels shipped globally in 2021 and the shipments will increase to 918 million units in 2026 at a CAGR of 0.69%, according to Digitimes Research.
Such large-size LCD panels are used in five categories of application: TVs, notebooks, desktop monitors, tablets and others including interactive white boards and automotive displays, Digitimes research indicated.
Because of increasing average screen sizes for LCD TVs, notebooks, LCD monitors and tablets, the total display area of large-size LCD panels shipped during 2021-2026 will rise at CAGR of 2.0%.
Mainly because LCD panel prices were generally rising from June 2020 to June 2021, China- and Taiwan-based panel makers have expanded production capacities and South Korea-based ones have delayed shutdown of LCD production lines. As a result, global production capacity for large-size LCD panels will increase on year by 8.5% in 2021, 9.3% in 2022 and only slightly beginning 2023 because the market will be approaching saturation.
China-based BOE Technology will remain as the globally largest producer of large-size LCD panels during 2022-2026, occupying 28-29.3% of global production capacity. If BOE sets up its third 10.5G production line or acquires fellow makers' production lines, it will occupy over 30% of global production capacity by the end of 2026.
If BOE and China Star Optoelectronics Technology (CSOT) do not set up additional 10.5/11G production lines, Taiwan-based AU Optronics (AUO), Innolux and HannStar Display can maintain combined occupation of over 20% of global production capacity.