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Global spending on display equipment will grow 54% to $7.7 billion in 2024

2023.07.21

After a 59 percent decline in 2023, display equipment spending is expected to rebound in 2024, growing 54 percent to $7.7 billion. LCD equipment spending is expected to exceed OLED equipment spending by $3.8 billion, at $3.7 billion and 49% and 47%, respectively, with the remainder being Micro OLED and Micro LED.

Display equipment expenditures and shares by display technology


Source :DSCC's quarterly Capital Expenditure and equipment market Share report

By 2024, Samsung Display's G8.7 IT OLED panel factory A6 will account for the highest spending with a 30% share, followed by Tianma's TM19 G8.6 LCD panel factory with a 25% share, and TCL Huaxing's t9 G8.6 LCD panel factory with a 12% share. Boe's G6 LTPS panel factory B20 accounts for 9% of the share. Overall, Samsung Display is expected to lead display equipment spending in 2024 with a 31% share, followed by Tianma (28%) and boe (16%).

Canon Tokki is expected to lead with a 13.4% delivery share, with its revenue growing 100% to more than $1 billion, ranking first in the evaporation segment (FMM VTE) and second in the exposure equipment segment.

Applied Materials is expected to maintain its second position with 8.4% market share, growing 60% in CVD, TFE CVD, backplane ITO/IGZO sputtering and CF sputtering, and ranking second in SEMs. Nikon, TEL and V Technology are expected to round out the top five. Half of the top 15 vendors are expected to see display device revenue growth of more than 100%.

IT panel factories are expected to account for 78% of display equipment spending in 2024, and mobile devices' market share is expected to fall from 58% to 16%, placing it in second place.

Oxides are expected to account for 43% of backplane equipment spending in 2024, followed by a-si, LTPO, LTPS, and CMOS.

Regionally, China is expected to lead with a 67% share, down from 83% previously. South Korea followed with 32 per cent.