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August 10, 2021
Core reminder: In this survey, it is found that in order to further increase its competitiveness, the LCD giant is expected to further expand and transform its LCD production capacity. In 2020-2025, the expenditures of various panel factories on the purchase of LCD equipment are expected to reach 32 billion U.S. dollars.
The DSCC recently released the 2021Q3 display production equipment expenditure report. The highlights of our update are as follows:
Expenditures for LCD and OLED production equipment in 2020-2025 We have estimated that the revenue from LCD + OLED equipment in 2020-2025 will reach 79 billion US dollars, which is an increase of 12% compared to the previous forecast.
In this survey, it is found that in order to further increase its competitiveness, the LCD giant is expected to further expand and transform its LCD production capacity. In 2020-2025, the expenditures of various panel factories on the purchase of LCD equipment are expected to reach 32 billion U.S. dollars.
Although some of the existing flexible OLED construction plans have been postponed and converted to LCD, if the new G8.5 IGZO OLED IT production line can be constructed normally, the impact of the two on the purchase of OLED equipment will offset each other. Therefore, during the period 2020-2025, DSCC expects that the purchase expenditure of OLED production equipment by various panel makers will be about 47 billion U.S. dollars.
In 2021 and 2022, the expenditures of panel makers on the purchase of LCD and OLED equipment will be relatively flat, and there will be a certain decline compared with 2020. During the period from 2023 to 2024, with the start of new projects, the expenditure of panel makers on the procurement of display equipment will resume growth.
The average annual equipment purchase expenditure from 2020 to 2024 is $14.2 billion per year.
Between 2021-2024, Applied Material's revenue from display devices is expected to surpass Canon and become the winner of this round of factory construction. Nikon's profit during this equipment purchase period should be ranked third, followed by companies such as V Technology, Invenia, TEL, ULVAC, AP Systems, DMS and LG PRI.
Mainland China’s share of display equipment purchase spending is expected to rise from 86% in 2020 to 97% in 2021. In 2022, with the start of new projects in South Korea, China's share of display equipment purchase expenditures will drop to 77% in 2022.