Global LCD TV Shipments to Grow at 1.6% CAGR Through 2023

Digitimes Research says worldwide LCD TV shipments will grow 1.7% year-on-year in 2019, to 218 million units, and continue to grow at a CAGR of 1.6% over the next five years, reaching 236 million units in 2023. Taiwan’s global shipment share is set to increase from 15.9% in 2018 to 17.5% in 2023. Meanwhile, the country’s LCD TV shipments will hit 35.61 million units in 2019 and grow at a CAGR of 3.4% through 2023, over double the global average.

In terms of individual companies, Taiwan’s growth in the sector will be boosted by Innolux’s recently revived ODM TV business and increasing orders from Vizio and Xiaomi, as well as a return to growth for TPV once it reacquires the worldwide management rights of the Philips brand, boosting its sales in the US and India.

Digitimes says Taiwan’s LCD TV market will be dominated by Foxconn, TPV and Amtran, whose operations will remain steady despite analysts’ prediction that its shipments will decline gradually. ODMs including Compal Electronics, Darwin Precisions and Wistron are likely to exit the market within the next five years, analysts added.