LCD Industry Update 

Market size & growth – The global LCD market was about 150?billion in 2024 and is projected to grow at a 4.5?% CAGR through 2031, reaching over 1.6?trillion in 2025. The LCD module market alone will reach 228.1?billion by 2034 (CAGR?3.7?%).

Capacity & China dominance – Total LCD capacity in 2025 is roughly 358?million?m2, with mainland China supplying about 278?million?m2. After Japanese and Korean manufacturers withdraw, Chinese firms now account for >70?% of global LCD TV panel shipments.

Top players (H1?2025) – BOE (28.9?%), TCL?Huaxing (24.6?%), Hisense (11.8?%), Innolux (9.5?%), AUO (8.5?%)[[21]].

Demand trends – TV panel area +8.3?%, monitors ?4.3?%, notebooks +17.8?%, tablets +15.5?%, industrial/automotive +8.2?% CAGR.

Pricing – LCD TV panel prices keep rising due to tighter supply and the exit of low?end lines[[24]][[25]]. Overall LCD panel shipment area fell 0.9?% YoY in early 2025 but remains on a modest upward trajectory for the year.

Tech upgrades – Mini?LED back?lighting is now mass?produced for high?end TVs, improving local dimming and contrast[[27]]. OLED continues to gain share, especially in small?size segments, while LCD retains cost?advantage for large?size TV and industrial displays.

M&A – BOE’s planned 30?% stake acquisition of Rainbow Optoelectronics strengthens its back?light and high?end panel capabilities.

Outlook (2025?2026) – Capacity growth slows to 0.21?% for large?size LCD, signaling a balanced supply?demand environment[[31]]. Prices are expected to stabilize in 2026. Industrial and automotive LCD applications, driven by smart manufacturing and vehicle electronics, are projected to grow >8?% annually, becoming a key growth engine.