Chinese display manufacturer, BOE, has been doing quite well in the display manufacturing market. Ever since the company successfully provided some of the OLED displays for Huawei Mate 20 series, its products have been increasingly accessible and acceptable to consumers. In fact, it’s market position is moving towards an unprecedented height and company’s Flat-Panel Display manufacturing capacity is growing rapidly.
According to the latest report of the statistical agency, IHS Markit, this year, BOE will surpass LG Display and grow into the world’s number one FPD (flat-panel display) manufacturer. It is reported that BOE’s Flat-Panel Display production capacity will reach 59 million square meters this year, accounting for 17.7% of the global total. This growth is mainly due to the increase in production capacity of BOE B9 10.5 Generation Line (LCD) and B11 6 Generation Line (AMOLED).
Taking into account BOE’s future plant construction plan, the report predicts that by 2023, its production capacity will reach 78 million square meters, accounting for 21% of the world’s total. Considering that the global share of BOE was only 10% four years ago, the compound growth rate between 2015 – 2023 will be as high as 15.7%. Of course, BOE is only a microcosm of the FPD manufacturing industry. At the end of this year, the total Flat-Panel Display production capacity of major display manufacturers will cover 46% of the world, reaching 153 million square meters, and will further increase to 62% in 2023.