车载显示行业推荐：科技赋能车载面板，重塑智能座舱体验新维度

Investment Rating - The report recommends a "Buy" rating for key companies in the automotive display industry, specifically BOE Technology Group and Tianma Microelectronics [4]. Core Insights - The automotive display industry is experiencing rapid growth driven by the transformation of the automotive sector, particularly with the rise of electric and smart vehicles. The demand for larger and multiple displays in vehicles is increasing significantly, with global shipments of automotive display panels expected to reach 230 million units in 2024, a year-on-year growth of 8.5% [1][44]. - Technological innovations such as OLED, Mini LED, and Micro LED are emerging, gradually gaining market share against traditional LCD technologies. OLED displays are particularly noted for their self-emissive properties and high contrast ratios, while Mini LED technology combines advantages of both traditional LED and OLED [2][36]. - The collaboration between automakers and display manufacturers is becoming increasingly direct, enhancing technological capabilities and production efficiency within the automotive display supply chain [3]. Summary by Sections 1. Automotive Display Reshaping Smart Cockpit Experience - Automotive displays serve various functions including driving assistance and entertainment, categorized by their installation locations such as instrument displays, HUDs, and central control screens [16]. - The automotive cockpit has evolved through several stages, from mechanical to electrical and now to intelligent systems, enhancing both functionality and user experience [21][29]. 2. Sufficient Growth Momentum for Automotive Displays - The global automotive market is recovering, with sales expected to reach 95.31 million units in 2024, and the electric vehicle segment is projected to grow by 26% year-on-year [44][46]. - The automotive electronics market is expanding, with the cost of automotive electronics expected to rise from 40% in 2021 to 60% by 2025 [47][49]. 3. Competitive Advantage of Mainland Display Manufacturers - Mainland Chinese manufacturers are gaining a competitive edge in the display panel market, with their share of the global 6th generation and above TFT-LCD panel capacity increasing from 9.79% in 2012 to 68.25% in 2023 [65][66].