2023 Top Three Forecasts for TFT LCD Large-size Panel Shipments: BOE, Innolux, CSOT

 

According to the latest "Q1 2023 Large-Size Display Panel Market Tracker" by Omdia, the forecast for the shipment volume of large-size LCD panels in 2023 has been adjusted to a year-on-year negative growth of -3.2%, due to slowing demand and panel manufacturers' capacity management. In the previous forecast, it was anticipated to increase by 0.6%.

 

Some panel manufacturers are planning to exit the business, while others are considering shutting down old panel production lines. However, despite the decline in shipment volume, the shipment area of large-size panels is expected to grow by 1.7% in 2023 compared to the previous year, revised down from the previous forecast of 3%. Panel manufacturers anticipate that the trend towards larger sizes in TVs and monitors will contribute to the increased shipment area in 2023.

"In the previous forecast, the objective for display panel manufacturers was to increase the shipment volume of IT display panels in 2023 and reduce the shipment volume of LCD TV panels. The recovery of demand for IT LCD panels still faces uncertainty as display panel manufacturers have experienced significant losses in their IT LCD panel business. The panel manufacturers expect LCD panel demand to recover once inventory issues are resolved, but some leading brands have yet to fully address this situation. Even when inventory returns to normal, computer brands/OEM manufacturers will keep inventory levels lower than before," said Peter Su, Chief Analyst at Omdia.

 

In the previous forecast, panel manufacturers set aggressive targets for notebook LCD panel shipments, aiming for a year-on-year growth of 1.9% in 2023. However, the latest forecast shows less optimistic results, with a year-on-year decline of 8.1%. In fact, the demand for notebook computer display panels is growing slower compared to other applications of large-size display panels.

 

Unlike notebook and monitor LCD panels, the decline in tablet LCD panel shipments has slowed down in the latest forecast, from a year-on-year decline of 2.7% to a decline of 1.4%. Lower-priced tablets may gain some market share from notebooks due to the global economic recession.

Due to slowing demand and the price rebound of IT LCD panels, the revenue forecast for large-size TFT LCD panels in 2023 is projected to reach $65.2 billion, a year-on-year decrease of 0.9%. Only TV LCD panel revenue is expected to increase by 13.6% year-on-year, driven by rising TV panel prices since Q1 2023.

 

It is predicted that BOE will take the top spot in the shipment volume of large-size TFT LCD panels in 2023 with a market share of 33.5%, followed by Innolux with a share of 13.5% and China Star Optoelectronics (CSOT) with a share of 11.5%.

 

Source: Omdia