The Motor Vehicles and Transport Equipment industry's contribution to Malaysia's GDP is forecasted to decline steadily from 1.4% in 2024 to 1.1% by 2028. This represents a year-on-year decline of approximately 7% between 2024 and 2025, and a further 7.7% drop from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year period from 2023 to 2028 stands at approximately -5.5%, indicating a consistent decrease in the sector's share of economic output.
Future trends to watch include the impact of advancements in electric vehicle technology, shifts in global supply chain dynamics, and government policies incentivizing sustainable transport. Monitoring these factors will be crucial for understanding the evolving landscape of the motor vehicles and transport equipment sector in Malaysia.
