On September 2nd, according to Counterpoint, a global market research firm, the market share of display panel production capacity in Chinese Mainland will increase from 68% in 2023 to 75% in 2028, maintaining its position as the world's largest.
South Korea's market share will slightly decrease from 9% to 8%, while Taiwan, China's will drop from 19% to 16%.
Due to the closure of its main production lines, Japan's market share is expected to plummet from 4% to 1%, with an estimated average annual growth rate of -21.3%.
It is noteworthy that India's investment plan will be postponed until after 2028, with production of display panels expected to commence only in 2030.
By application, LCDs for TVs and IT will continue to dominate the market by 2028, with an expected market share exceeding 73%; followed by LCDs for mobile devices and IT, with an expected share of over 14%; the share of OLEDs for mobile devices and IT is expected to expand to 7%. The market share of OLEDs for TVs and IT is expected to remain around 4%.
Based on the average annual growth rate from 2023 to 2028, OLED for mobile devices and IT applications will grow at a rate of 6.7%, making it the fastest-growing segment. This is followed by OLED for TVs and IT applications, with an expected average annual growth rate of 2.6%, while the average annual growth rate for LCD for TVs and IT applications is 2.4%.
