Automotive Display Panel Shipments Reach Record High in 2024
The global automotive display panel market continues to grow, with shipments reaching 232 million units in 2024, marking a 6.3% year-on-year increase. This growth is fueled by the rising demand for advanced cockpit displays, particularly in China, where technologies such as head-up displays (HUDs), passenger displays, and rearview mirrors are gaining traction. The expansion of electric vehicles (EVs) and government policies supporting local supply chains are further driving market growth.
China’s automotive market is a key driver of this growth, with the government’s promotion of neighborhood electric vehicles (NEVs) leading to a surge in both domestic sales and exports of Chinese-brand electric vehicles. Policies that prioritize domestic components have also strengthened China’s position in the supply chain, boosting demand for locally produced automotive displays. Global automakers have responded by integrating more localized supply chains to align with government policies and competitive market conditions. As a result, Chinese panel manufacturers now hold over 53% market share in 2024.
Leading the market are Chinese companies BOE and Tianma, with BOE holding a 17.6% market share and shipping 40.9 million units, while Tianma follows closely with a 15.9% share and 36.9 million units shipped. AUO ranks third with a 10.5% market share, Japan Display Inc. (JDI) falls to fourth place with an 8.6% share, and LG Display rounds out the top five with a 7.7% share.
Other notable players in the market include IVO, Truly, and China Star (CSOT), each experiencing varying degrees of growth. However, some suppliers have seen declines, reflecting the competitive and dynamic nature of the market.
Omdia Senior Principal Analyst Stacy Wu commented on the market movements, noting the closure of small and mid-sized fabs as manufacturers struggle to compete and adapt to industry demands. The shift towards cost-effective, high-capacity production is evident with JDI’s recent announcement to close facilities, signaling a move towards advanced production lines like G6 LTPS and G8 a-Si/Oxide fabs in China. While this shift enhances production efficiency, it also poses challenges in supply chain diversification as stakeholders navigate a complex global trade environment.
As the automotive display panel market continues to evolve, manufacturers and suppliers must adapt to changing market dynamics and technological advancements to remain competitive in this rapidly growing industry.
