The import of bumpers and parts thereof for motor vehicles to Malaysia has shown significant variability over the years. From a volume of 6.015 million kilograms in 2013, there was substantial growth till 2015, followed by volatility though largely on an upward trajectory. By 2023, the import volume stood at 13.81 million kilograms. Noteworthy year-on-year variations show substantial peaks and troughs, with the highest upswing in 2015 and a major downturn in 2016.
Over the past two years, the import volume grew by 9.8% in 2022 and 4.05% in 2023. The 5-year CAGR till 2023 stands at 4.67%, indicating moderated but consistent growth. Looking forward, forecasts suggest continued growth with a 5-year CAGR of 2.92%, predicting the volume to reach 16.579 million kilograms by 2028, cumulatively representing a growth rate of 15.5%.
Future trends to observe include potential impacts of automotive industry shifts towards electric vehicles that may alter import dynamics. Additionally, global supply chain adjustments and bilateral trade agreements could influence these import volumes. Monitoring technological advancements and regulatory changes will be crucial in forecasting future trends accurately.
