The land transport revenue in Malaysia has shown an upward trend from 2013 to 2019, with growth rates ranging from 5.66% to 18.86%. However, there was a significant dip in 2020 due to a 25.61% decline, likely attributable to the pandemic’s impact. Recovery commenced in 2021 with a 4.2% rise, and strong growth continued in 2022 with a 29.19% increase, followed by a 10.96% rise in 2023 where the value stood at 16.13 billion Malaysian Ringgits. The compound annual growth rate (CAGR) over the last five years was 4.01%.
For 2024 onwards, the revenue is forecasted to continue increasing, albeit at a moderating pace with an expected five-year CAGR of 3.39%, culminating in an 18.11% overall growth by 2028. By 2028, the land transport revenue is projected to reach 19.99 billion Malaysian Ringgits.
Future trends to watch for include:
• Technological advancements in transportation, such as autonomous vehicles and smart logistical solutions.
• Policy changes and infrastructure investments aimed at enhancing connectivity and efficiency.
• Shifts in consumer behavior post-pandemic, potentially impacting demand patterns.
