Examining the forecasted import values of steam turbines and other vapour turbines to Malaysia from 2024 to 2028, there is a consistent year-on-year decrease. In 2023, the actual import value was significantly higher, as 2024 kicks off a downward trend in imports. By 2028, the value is projected to drop to 114.27 million USD.
Year-on-year variation shows a gradual decline, with each subsequent year experiencing a drop of approximately 1% or slightly less. From 2023 to 2024, there’s a notable variation corresponding to the commencement of this downward trend. The cumulative annual growth rate (CAGR) reveals an average annual decrease in the import value, reflecting a sustained reduction in demand.
Future trends to watch for include potential shifts in Malaysia's energy policies, advancements in alternative energy technologies, and global market dynamics affecting the supply and demand for steam turbines and vapour turbines. Monitoring these factors will be crucial for anticipating further changes in import patterns.
