The import volume of lighting or visual signalling equipment to Malaysia is forecasted to see continuous growth from 2024 to 2028, starting from 6.0667 million kilograms in 2024 and increasing to 6.8531 million kilograms in 2028. With the forecasted data showing consistent yearly increases, the average year-on-year variation suggests an upward trend in imports. In 2023, the import volume stood at approximately 5.87 million kilograms.
The year-on-year variations for the upcoming years are as follows:
- 2024: +3.34%
- 2025: +3.34%
- 2026: +3.17%
- 2027: +3.01%
- 2028: +2.86%
The Compound Annual Growth Rate (CAGR) for the five-year period from 2024 to 2028 is approximately 3.14%. This indicates a stable and moderate average increase in the imports over this period.
Future trends to watch for include technological advancements in lighting and signalling equipment, changes in regulatory standards, and shifts in the economic landscape which could impact import volumes. Additionally, monitoring global supply chain dynamics and potential market disruptions will be crucial.
