Global shipments of TFT LCDs used for automotive monitor displays are set to decline to 156 million units in 2019, down 5 percent from 2018, according to the market research firm. The trade clash has already taken a toll on China, with the country in August facing a slowdown in growth in industrial production, fixed-asset investment and retail sales. Retail sales in China were particularly impacted by the slowing growth of the auto segment.
“After the currency crisis of 2008, the market for TFT LCDs used for automotive monitors entered the fast lane, with annual shipments rising to 162 million units in 2018, up from 18 million in 2009,” explains Hiroshi Hayase, senior director, small-medium display, at IHS Markit.
“However, shipment growth has hit the brakes in 2019 as China’s economy is facing an increased risk of recession due to the trade uproar. Increased U.S. tariffs on Chinese cars and automotive components are causing the market to suffer its first downturn in 10 years.”