Omdia: Global shipments of automotive display panels will reach 232 million units in 2024, a year-on-year increase of 6.2%.

According to Omdia data, the total shipment of car displays worldwide in 2024 reached 232 million units, a year-on-year increase of 6.2%. Among them, the shipment in the front-loaded market reached 202 million units, a year-on-year increase of 9.5%, indicating that industry resources are accelerating towards the front-loaded market. The current car display market shipments show a clear tiered differentiation feature: leading enterprises consolidate their advantageous positions relying on technological reserves and economies of scale, mainland Chinese manufacturers benefit from local industrial policy support and market demand expansion to achieve rapid growth, while some companies experience market share contraction due to strategic adjustments or operational challenges. The top five manufacturers (BOE, Tianma Microelectronics, AU Optronics, Japan Display, LG Display) collectively account for 60% market share, and the industry concentration continues to increase. In 2024, driven by favorable policies, the Chinese automotive market achieved high-speed development, significantly enhancing the strength of the local supply chain. According to the latest data from Omdia, in 2024, 53% of the global car display panel shipments came from mainland Chinese manufacturers, with BOE holding the top spot with an overall market share of 18%. Tianma Microelectronics firmly topped the front-loaded market with a 18% market share, with shipments increasing by 25% year-on-year. The overall shipment volume of front-loaded car displays increased by 9.5% year-on-year, reaching 202 million units, showing that industry resources are accelerating towards the front-loaded market. From the perspective of shipment volume rankings, mainland Chinese panel manufacturers have performed outstandingly: BOE, with an overall market share of 18%, topped the list, while BOE's front-loaded market shipments grew significantly, with a year-on-year increase of 21%, making it jump to the second spot with a 14% share. Thanks to the demand in the Chinese automotive sector, BOE's LTPS LCD center screens and Head-Up Displays (HUD) have shown significant shipment growth. Tianma has been deeply cultivating the front-loaded car display market, maintaining the top spot in the front-loaded market with an 18% share in 2024, a 25% year-on-year growth. Tianma's advantage lies in long-term customer accumulation, achieving rapid growth through deepening cooperation with new energy car companies such as Shanxi Guoxin Energy Corporation. Infovision Optoelectronics (Kunshan) Co., Ltd. had a strong performance in car display shipments in 2024, with a 20% year-on-year growth, jumping to sixth place in the overall market rankings. Infovision Optoelectronics (Kunshan) Co., Ltd. entered the mass market by leveraging cost advantages and rapidly expanding market share through the growth in demand for streaming rearview mirrors. Truly steadily grew, with a 4% year-on-year increase, entering the top six in the front-loaded market with a 6% share. With the flexibility of its small panel line, Truly has maintained its advantage in small-sized shipments. CSOT (China Star Optoelectronics Technology) has grown rapidly, with a year-on-year increase of 125%. On one hand, the demand from its existing automotive clients has increased, and on the other hand, CSOT has started to release a-Si LCD capacity to the automotive market, further penetrating the mid-to-low-end market. In addition, HKC has shifted its business focus to the front-loaded market and optimized its product structure further. Everdisplay, relying on the demand from the domestic new energy vehicle market, has officially entered the AMOLED field in the car display market. Source: Omdia Omdia stated that the policy-driven effects in the Chinese automotive market became more prominent in 2024, and the car display industry chain in China has experienced a qualitative change from lagging behind to leading. However, the continuous pressure on the panel supply chain persists due to the demand for cost reduction from end-users and strong competition from new players entering the market. With intensifying industry competition, panel manufacturers need to seek a balance between scale expansion and profitability. Establishing differentiated competitiveness through flexible allocation of production line capacity, deep coordination of the localized supply chain, and innovative breakthroughs in high value-added products will be the key to the next stage of development.