TFT LCD Panel Market

Market Overview 2024-2032:

The global TFT LCD panel market size reached US$ 172.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 250.0 Billion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032. The growing number of mobile phone users, increasing demand for laptops, and technological advancements in display screens represent some of the key factors driving the market.

Rising Demand for Laptops Impelling Market Growth

The escalating demand for laptops currently represents one of the primary drivers resulting in the increasing sales of TFT LCD panels in the market. There is a rise in the utilization of laptops due to the growing adoption in the corporate sector to increase the overall productivity and efficiency of work at a reduced time. In addition, different laptops are widely available at affordable prices to attract a large consumer base. Apart from this, the growing demand for laptops in the education sector to provide enhanced learning experiences, along with the rapid digitalization across the globe, is positively influencing the market.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is concentrated with a few key players operating in the industry. The volume of new entrants is moderate in the TFT LCD panel industry due to the high capital investment. Besides this, product differentiation in the TFT LCD market is low, as the products of various companies are somewhat similar to each other.

What is TFT LCD Panel?

A thin film transistor (TFT) liquid crystal display (LCD) panel refers to an active-matrix display that is designed to provide enhanced image quality. It relies on one transistor wherein every pixel controls the illumination of the display and enables a view even in bright environments or conditions. It is lightweight, thin, energy-efficient, and offers high-quality resolution with low power consumption. Besides this, it aids in providing an enhanced user experience while reducing running costs. As a result, TFT LCD display is used to manufacture television, digital photo frames, single-lens reflex (SLR) cameras, mobile phones, mobile personal computers (PCs), portable video game devices, and monitors across the globe.

COVID-19 Impact:

The COVID-19 pandemic outbreak caused a severe problem for the TFT LCD panel industry and imposed unprecedented challenges on numerous countries. It has severely impacted the production process of TFT LCD panels around the world. Due to the lockdown norms and restrictions, various manufacturers were forced to temporarily shut down or slow down their production plants. This created a shortage of raw materials for TFT LCD panels and reduced the demand for the product on account of the fear of widespread viruses across the globe. In addition to this, key players faced huge financial losses during the pandemic and had to postpone or cancel several projects. Apart from this, there was a supply and demand chain disruption due to the shortage of labor and restrictions on on-road movement. Moreover, governing agencies of various countries imposed stringent rules and regulations on the exports and imports of raw materials and products around the world due to cross-border lockdowns. Additionally, the COVID-19 pandemic hampered the logistical and transportation sector due to the curfews and ban on on-road movements in the market. There was a sharp decline in the demand for TFT LCD panels due to stringent policies on domestic and international trade. During the pandemic, people faced a shortage of money, which forced them to purchase essential goods and services rather than spend on luxurious products. However, the demand for TFT LCD panels increased after the removal of lockdown.

TFT LCD Panel Market Trends:

At present, the rising use of laptops in the corporate sector to increase productivity and overall efficiency in a business represents one of the key factors contributing to the growth of the market. Besides this, the growing utilization of TFT LCD panels, as they provide lower power consumption and emit little heat during operation, is offering a positive market outlook. Additionally, there is a rise in the demand for high-quality resolution, easy installation, sharper visibility, and large screen displays among the masses around the world. This, coupled with the increasing utilization of TFT LCD panels in several consumer electronic devices, such as monitors, laptops, television, personal computers (PCs), and mobile phones, is bolstering the growth of the market. Apart from this, rising number of mobile phone users across the globe is impelling the growth of the market. Moreover, the increasing upgradation of display screen technologies to enhance user experience is offering lucrative growth opportunities to industry investors. In addition, the rising demand for TFT LCD panels, as they are less prone to reflection as compared to cathode ray tube (CRT) televisions, is supporting the growth of the market. Furthermore, the increasing adoption of TFT LCD panels in the automotive industry for enhanced navigation systems is strengthening the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global TFT LCD panel market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on size, technology and application.

Size Insights:

• Large Size TFT-LCD Display Panel
• Medium and Small Size TFT-LCD Display Panel
   

The report has provided a detailed breakup and analysis of the TFT LCD panel market based on the size. This includes large size TFT-LCD display panel and medium and small size TFT-LCD display panel. According to the report, large size TFT-LCD panel represented the largest segment due to the rising consumer demand for larger televisions. In addition to this, there is a rise in the number of large televisions, monitors, personal computers (PCs) among the masses across the globe.

Technology Insights:

• 8th Generation
• Other Generations
   

The report has provided a detailed breakup and analysis of the TFT LCD panel market based on the technology. This includes 8th generation and other generations. According to the report, 8th generation represented the largest segment on account of its improved color accuracy.

Application Insights:

• Television
• Mobile Phones
• Mobile PCs
• Monitors
• Automotive
• Others
   

A detailed breakup and analysis of the TFT LCD panel market based on the application has also been provided in the report. This includes television, mobile phones, mobile PCs, monitors, automotive, and others. According to the report, television accounted for the largest market share due to the increasing demand for large screens among individuals worldwide. In line with this, TFT LCD offers various benefits, such as energy-efficiency, low radiation levels, slim size, and lightweight, which is strengthening the growth of the market.

Regional Insights:

• North America
• Asia Pacific
• Europe
• Middle East and Africa
• Latin America
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. According to the report, North America was the largest market for TFT LCD panel. Some of the factors driving the North America TFT LCD panel market included the growing adoption due to high flexibility and enhanced pictorial representation, rising demand for luxurious products among individuals, and increasing preferences for energy-efficient entertainment options. In addition to this, the rising demand for TFT LCD panels in the aerospace sector to display aircraft altitude information, airframe parameters, warning messages, and navigational data is contributing to the growth of the market in the region.

Competitive Landscape: 

The report has also provided a comprehensive analysis of the competitive landscape in the global TFT LCD panel market. Some of the companies covered in the report include:

• LG Electronics Inc.
• Samsung Electronics Co., Ltd
• Innolux Corporation
• AU Optronics Corp.
• Sharp Corporation

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the TFT LCD panel market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global TFT LCD panel market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the TFT LCD panel industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.