东北证券：科技赋能车载面板 重塑智能座舱体验新维度

Group 1 - The car display industry is experiencing rapid growth driven by the transformation of the automotive sector, particularly with the rise of electric and smart vehicles, leading to an expected shipment of 230 million car display panels globally in 2024, a year-on-year increase of 8.5%, and a projected 5.4% growth to 250 million panels in 2025 [1] - The demand for larger and multiple displays in vehicles is increasing, with new products like HUDs and co-driver screens emerging to meet consumer needs, significantly boosting the installation rates of car displays [1] - The performance of electric vehicles is particularly notable, with models like Xiaomi SU7 and Zeekr 007 featuring large, high-resolution displays to enhance user experience, further stimulating market demand for car displays [1] Group 2 - While LCD technology remains dominant in the car display panel market, emerging technologies such as OLED, Mini LED, and Micro LED are gaining traction, with OLED expected to increase its market share due to its advantages like self-lighting and high contrast [2] - Mini LED technology combines the strengths of traditional LED and OLED, offering high brightness and energy efficiency, while Micro LED is viewed as a revolutionary future direction for car displays due to its superior performance in brightness, contrast, and lifespan [2] - Other innovative display technologies, such as holographic displays and near-field projection, are also being explored, indicating a shift towards more interactive and advanced display solutions in vehicles [2] Group 3 - The traditional supply chain in car displays involves panel manufacturers, module manufacturers, system integrators, and automakers, but the increasing demands for display technology are fostering closer collaborations between automakers and panel manufacturers [3] - This direct cooperation is expected to enhance technical capabilities, improve production efficiency, and reduce costs, thereby driving technological advancements and industry upgrades in the car display sector [3]