Panel Display Manufacturing Machine Market

The global market for machines used in the manufacture of flat panel displays is expected to continue growing steadily from 2022 to 2030, with a forecasted increase in both volume and value. Japan stands out as the leading consumer and producer of these machines, with consumption and production levels far exceeding those of other countries. South Korea, on the other hand, dominates in terms of imports and exports of flat panel display manufacturing machines. Overall, the market shows promising trends for the future, with potential for further growth and development.

Market Forecast

Driven by increasing demand for machines for the manufacture of flat panel displays worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.5% for the period from 2022 to 2030, which is projected to bring the market volume to 5.7M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $29.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Machines For The Manufacture Of Flat Panel Displays

In 2022, consumption of machines for the manufacture of flat panel displays increased by 21% to 5.4M units, rising for the fourth consecutive year after three years of decline. Over the period under review, consumption showed modest growth. Global consumption peaked in 2022 and is likely to see gradual growth in the near future.

The global panel display manufacturing machine market value rose to $23.4B in 2022, with an increase of 4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a measured expansion. Over the period under review, the global market reached the maximum level in 2022 and is likely to continue growth in the near future.

Consumption By Country

Japan (4.2M units) constituted the country with the largest volume of panel display manufacturing machine consumption, accounting for 77% of total volume. Moreover, panel display manufacturing machine consumption in Japan exceeded the figures recorded by the second-largest consumer, South Korea (1M units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Japan was relatively modest.

In value terms, Japan ($15.5B) led the market, alone. The second position in the ranking was taken by South Korea ($1.6B).

In Japan, the panel display manufacturing machine market remained relatively stable over the period from 2012-2022.

The countries with the highest levels of panel display manufacturing machine per capita consumption in 2022 were Japan (34 units per 1000 persons) and South Korea (20 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by South Korea (with a CAGR of +14.2%).

Production

World Production of Machines For The Manufacture Of Flat Panel Displays

In 2022, approx. 5.5M units of machines for the manufacture of flat panel displays were produced worldwide; waning by -1.8% against the year before. In general, the total production indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.5% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 68% against the previous year. As a result, production reached the peak volume of 8.1M units. From 2019 to 2022, global production growth remained at a somewhat lower figure.

In value terms, panel display manufacturing machine production reduced slightly to $21.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 53%. As a result, production attained the peak level of $27.7B. From 2019 to 2022, global production growth remained at a lower figure.

Production By Country

The country with the largest volume of panel display manufacturing machine production was Japan (4.7M units), comprising approx. 84% of total volume. Moreover, panel display manufacturing machine production in Japan exceeded the figures recorded by the second-largest producer, South Korea (759K units), sixfold.

In Japan, panel display manufacturing machine production remained relatively stable over the period from 2012-2022.

Imports

World Imports of Machines For The Manufacture Of Flat Panel Displays

Global panel display manufacturing machine imports soared to 726K units in 2022, with an increase of 89% compared with the previous year. Over the period under review, imports showed moderate growth. The most prominent rate of growth was recorded in 2016 when imports increased by 279% against the previous year. Over the period under review, global imports attained the peak figure at 2M units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, panel display manufacturing machine imports declined significantly to $5.1B in 2022. In general, imports showed resilient growth. The growth pace was the most rapid in 2017 when imports increased by 47%. Over the period under review, global imports reached the peak figure at $11.7B in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports By Country

South Korea was the largest importer of machines for the manufacture of flat panel displays in the world, with the volume of imports reaching 530K units, which was approx. 73% of total imports in 2022. It was distantly followed by Taiwan (Chinese) (104K units), making up a 14% share of total imports. The United States (25K units), the Philippines (16K units) and Japan (11K units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to panel display manufacturing machine imports into South Korea stood at +3.5%. At the same time, Japan (+46.5%) and the Philippines (+8.8%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in the world, with a CAGR of +46.5% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, the Philippines and Japan increased by +8.2, +2.2 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($831M) constitutes the largest market for imported machines for the manufacture of flat panel displays worldwide, comprising 16% of global imports. The second position in the ranking was taken by Taiwan (Chinese) ($381M), with a 7.5% share of global imports. It was followed by Japan, with a 0.4% share.

From 2012 to 2022, the average annual growth rate of value in South Korea totaled +1.9%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+3.2% per year) and Japan (-5.8% per year).

Import Prices By Country

In 2022, the average panel display manufacturing machine import price amounted to $7,000 per unit, waning by -58.8% against the previous year. Over the period under review, the import price, however, continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by 124%. Over the period under review, average import prices reached the peak figure at $17,000 per unit in 2021, and then reduced dramatically in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($3,659 per unit), while the Philippines ($192 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.6%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Machines For The Manufacture Of Flat Panel Displays

In 2022, shipments abroad of machines for the manufacture of flat panel displays decreased by -46.1% to 831K units, falling for the fourth consecutive year after three years of growth. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 191% against the previous year. The global exports peaked at 8.1M units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, panel display manufacturing machine exports declined sharply to $4.5B in 2022. Over the period under review, exports, however, posted a measured increase. The pace of growth was the most pronounced in 2017 with an increase of 39% against the previous year. Over the period under review, the global exports attained the peak figure at $10.8B in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

Japan represented the largest exporter of machines for the manufacture of flat panel displays in the world, with the volume of exports amounting to 474K units, which was approx. 57% of total exports in 2022. It was distantly followed by South Korea (267K units), making up a 32% share of total exports. The Philippines (36K units), Taiwan (Chinese) (24K units) and China (24K units) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Philippines (with a CAGR of +138.9%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest panel display manufacturing machine supplying countries worldwide were Japan ($2B), South Korea ($1.1B) and Taiwan (Chinese) ($1.1B), with a combined 93% share of global exports. China and the Philippines lagged somewhat behind, together comprising a further 3.5%.

In terms of the main exporting countries, the Philippines, with a CAGR of +36.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average panel display manufacturing machine export price stood at $5,375 per unit in 2022, jumping by 34% against the previous year. In general, the export price showed a perceptible increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 118%. As a result, the export price attained the peak level of $7,460 per unit. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($43,926 per unit), while the Philippines ($8.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.9%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform