The import of parts of industrial electric furnaces and ovens to Malaysia showed significant volatility from 2013 to 2023. In 2023, the volume stood at 2.7056 million kilograms. The period saw multiple fluctuations with year-on-year changes often exceeding double digits - peaking at a 320.53% increase in 2013 and facing a drastic decline of 59.35% in 2015. Over the last two years (2021-2023), the necessity for imports stabilized, with minor growth rates (0.15%). The recent 5-year CAGR was -1.69%, indicating a slight contraction.
The forecast until 2028 anticipates a steady and gradual increase with a 5-year CAGR of 0.12%, reaching approximately 2.7267 million kilograms. This projection suggests mature and stabilized demand.
Future trends to watch for:
- Technological advancements in electric furnace parts.
- Shifts in Malaysian manufacturing and industrial sectors.
- Global supply chain fluctuations influencing import volumes.
- Malaysia’s energy policies impacting industrial growth.
