Strong Market Growth Driven by New Energy Vehicles and Intelligent Cockpits
In 2024, despite intense competition and pricing challenges in the vehicle market, the automotive display market has shown continued growth, fueled by the increasing adoption of new energy vehicles (NEVs), rising penetration of intelligent cockpits, and a growing demand for new use cases.
Tianma’s Market Leadership and Strategic Positioning
Tianma has strategically seized these market opportunities, fostering new growth avenues. In the first half of the year, Tianma’s automotive display business continued to dominate, maintaining the #1 global market share in the automotive-grade sector and leading the instrument display market. It also reached the top position in the Head-Up Display (HUD) market.
Strong Performance and Revenue Growth in Automotive Displays
By the end of the third quarter, the company’s automotive display product shipments grew faster than the industry average, with year-on-year revenue growth exceeding 40%. Notably, Tianma’s automotive electronics business targeting international vehicle manufacturers has entered large-scale delivery, and the company’s market share with leading NEV customers has steadily increased, driving significant growth in its automotive display business.
High Barriers to Entry and the Importance of Customer Loyalty
The automotive display sector is known for its high entry barriers and strong customer loyalty. Clients demand the highest standards of product quality, reliability, stability, and long-term, stable supply, along with rapid response and support. The long-term competitiveness of the sector is determined by the comprehensive operational capabilities of automotive businesses. As the automotive industry evolves with the “new four modernizations”—which include electrification, connectivity, automation, and shared mobility—there is increasing demand for high-definition displays, large screens, multi-screen systems, personalization, interactive features, and integrated solutions. The rise of new energy vehicles has intensified the demand for shorter development cycles, better component management, and more agile manufacturing, putting significant pressure on companies’ ability to manage customer relationships, ensure flexible delivery, and maintain comprehensive quality management systems. At the same time, companies must demonstrate forward-thinking strategies and flexible operational capabilities to navigate market shifts and ensure sustainable growth.
Tianma’s Strategic Focus and Technological Leadership in Automotive Displays
Tianma is optimistic about the future of the automotive display market and has made it one of the core strategic business areas. With nearly 30 years of expertise, Tianma has developed a highly competitive system in the field, encompassing R&D, manufacturing, quality control, marketing, and supply chain management. The company will leverage its existing LTPS G5.5 and G6 production lines to accelerate capacity expansion for automotive displays. Additionally, Tianma is introducing the newly invested TM19 8.6-generation production line and TM20 display module line to enhance its capability in providing advanced automotive display solutions and R&D for cutting-edge technologies. The Xiamen Micro-LED production line will also target automotive displays, reinforcing Tianma’s commitment to integrating advanced solutions and technologies for the automotive display sector.
Smooth Progress in New Production Line Development
The construction of Tianma’s new production lines, TM19 and TM20, is progressing as planned, with both lines currently in trial production. Tianma is pushing forward product development and customer integration and will proceed with mass production according to project timelines. Multiple products are already under development, including the first IT product for TM19, which has entered mass production. The first automotive module products for TM20 have been delivered to customers, and IT modules are now entering mass production. The full-process Micro-LED production line is on track to finalize processes by the end of the year, with a focus on ramping up production yield and efficiency in 2025 and establishing small-batch production capabilities.
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