Shipments of 75-inch-and-above ultra-large TFT LCD panels are expected to increase by 28.2% YoY in 2024

According to Omdia’s Large Area Display Market Tracker – 4Q23 Database, shipments of 75-inch-and-above ultra-large TFT LCD panels, including those used in LCD TVs and public displays, increased by 41.3% year-on-year (YoY) from 5.1 million units in 2022 to 7.1 million units in 2023. This upward trend is expected to continue, with shipments projected to further increase by 28.2% YoY to 9.2 million in 2024. 

Figure 1: Shipment and growth forecast of 75-inch-and-above ultra-large TFT LCD panels

Source: Omdia

The major sizes for ultra-large displays are 85, 86, 98, and 100 inches. Their total shipments in 2023 were 6.9 million units, accounting for 97% of all ultra-large display shipments. This share is expected to increase to 99% in 2024, based on Omdia’s current forecast. Notably, the 98 and 100 inches are the fastest-growing sizes, with shipments reaching 0.64 million in 2023, a 144.5% YoY increase. In 2024, their shipments are forecast to rise by 76.5% YoY to 1.13 million units.

Figure 2: Shipments and growth forecast of 98- and 100-inch TFT LCD panels

Source: Omdia

These four sizes are produced in Gen 8.5 and Gen 8.6 fabs, with the most effective cutting sizes being 98 inches in Gen 8.5 and 100 inches Gen 8.6 fabs. This sizing strategy is a practical approach that allows panel makers to maintain the glass input in their Gen 8.5 and Gen 8.6 fabs under strict production control throughout 2023. With a forecast of slower end-market demand in 2024, panel makers should continue their production control strategy to maintain panel prices or even increase them. To maintain reasonable fab utilization this year, panel makers must try to achieve their aggressive ultra-large display shipment targets in 2024. 

Producing larger products for higher capacity consumption are not the only reasons panel makers are focusing on ultra-large displays. Based on the average unit price information in Omdia’s Large Area Display Market Tracker – 4Q23 Database, panel makers can generate more revenue from producing 98- and 100-inch panels rather than 32-, 50-, or 55-inch panels.

In addition, Chinese panel makers do not have high-generation OLED fab capacities to produce OLED TV panels. Therefore, to compete with South Korean panel makers in the high-end TV display market, they must produce these ultra-large TFT LCD panels. 

Figure 3: Possible approaches to produce ultra-large TFT LCD panels in Gen 8.5, Gen 8.6, and Gen 10.5 fabs

Source: Omdia

Panel makers are not only producing ultra-large TFT LCD panels in Gen 8.5 and Gen 8.6 fabs; they are also expanding production through their Gen 10.5 fabs. Hisense showcased its 110-inch LCD TV at the 2024 Consumer Electronics Show (CES), while TCL released its 115-inch LCD TV sets (with panels from China Star’s Gen 10.5 fab in Shenzhen) in the Chinese market during the Double 12 sales event. Omdia believes that some panel makers are also planning to produce 130-inch LCD TV panels from their Gen 10.5 fabs. These ultra-large-sized TVs could further enhance the market sense and acceptance of ultra-large-sized products.

On the demand side, TV brands can generate more revenue from these ultra-large-sized TV products with better average selling prices (ASPs) compared with the mainstream size market segment, where competition is much stronger. 

Considering both supply and demand dynamics, the outlook for 75-inch-and-above LCD panels appears promising. Therefore, new sizes might be introduced in the coming quarters and years, and Omdia expects the shipments to surge further in 2024 and beyond.

To read more insights and analysis covering market trends and industry forecasts prepared by Omdia’s Display practice, click here.