Automotive LCD Display Market Expected to Reach $12.2 Billion, Globally, By 2031 at 5.6% CAGR: Allied Market Research

The expansion of production LCD displays and their increased importance in automotive products drive the growth of the global automotive LCD display market.

PORTLAND, Ore., Dec. 1, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Automotive LCD Display Market By Display Size (Upto 7 inch, and More than 7 inch), Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global automotive LCD display industry generated $7.2 billion in 2021, and is anticipated to generate $12.2 billion by 2031, witnessing a CAGR of 5.6% from 2022 to 2031.

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Prime determinants of growth

The expansion of production LCD displays and their increased importance in automotive products drive the growth of the global automotive LCD display market. However, restricted view angle of LCD displays restricts the market growth. Moreover, increase in use of AR and VR devices in displays present new opportunities for the market in the coming years.

Report Coverage and Details:

COVID-19 Scenario:

• The outbreak of the COVID-19 pandemic had a negative impact on the global automotive LCD display market, owing to temporary closure of manufacturing firms and disruptions in the supply chain during the prolonged lockdown.
• European countries under lockdowns suffered major loss of businesses and revenues due to shutdown of manufacturing units in the region. Operations of production and manufacturing industries were heavily impacted by the outbreak of COVID-19, which led to the slowdown in the market growth.
• Partnership/collaboration agreements with key stakeholders acted as a key strategy to sustain in the market. In the recent past, many leading players opted for product launch or partnership strategies to strengthen their foothold in the market.

The Upto 7 inch segment to maintain its leadership status throughout the forecast period

Based on display size, the upto 7 inch segment held the highest market share in 2021, accounting for more than half of the global automotive LCD display market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 5.7% from 2022 to 2031. The increase in combination of electronic systems with safety and security features and rise in use of in-vehicle smart display applications are the factors leading toward the adoption of autonomous and semiautonomous vehicles ranging between 6" and 7" inches, thereby accelerating the segment's demand. The report also mentions more than 7 inch segment.

The Passenger Car segment to maintain its leadership status throughout the forecast period

Based on vehicle type, the passenger car segment held the highest market share in 2021, accounting for nearly two-thirds of the global automotive LCD display market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the huge demand for passenger cars throughout the world. However, the light commercial vehicle segment is projected to manifest the highest CAGR of 7.2% from 2022 to 2031, due to the adoption of advanced technologies. 

Asia-Pacific to maintain its dominance by 2031

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global automotive LCD display market, and is likely to dominate the market during the forecast period. Moreover, the same region is expected to witness the fastest CAGR of 6.2% from 2022 to 2031. Surge in demand for interactive display, video walls, and touchscreen technology in this region, is expected to boost the market growth. The report also discusses other regions including the North America, Europe, and LAMEA.

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Leading Market Players:

• LG Display Co Ltd
• Denso Corporation
• Socionext us
• Yazaki Corp
• JAPAN DISPLAY INC
• Visteon Corporation
• Samsung Electronics Co Ltd
• Panasonic Corporation
• Robert Bosch
• Sharp Corporation
• Continental AG

Key Benefits For Stakeholders:

• This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
• The overall market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current global automotive LCD display market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.
• Porter's five forces analysis illustrates the potency of the buyers and suppliers in the automotive LCD display market.
• The report includes the market share of key vendors and global automotive LCD display Market trends.

Automotive LCD Display Market Key Segments:

By Display Size:

• Upto 7 inch
• More than 7 inch

By Vehicle Type:

• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle

By Region:

• North America  (U.S., Canada, and Mexico)
• Europe  (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
• Asia-Pacific  (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
• LAMEA  (Latin America, Middle East and Africa)

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