Forecast: Construction Revenue in Malaysia

The construction revenue in Malaysia has seen notable fluctuations over the past decade. Starting at 42.69 billion MYR in 2013, the market experienced considerable growth until 2019, peaking at over 71 billion MYR. However, 2020 and 2021 marked a downturn, with significant declines during the COVID-19 pandemic. The market rebounded strongly in 2022 with a 31.1% increase, reaching 72.92 billion MYR, and continued its upward trend in 2023, standing at 80.43 billion MYR.

Key highlights:

• 2022 to 2023 year-on-year growth: 10.29%
• 2023 value: 80.43 billion MYR
• 5-year CAGR leading to 2023: 2.8%
• Forecasted growth for the next 5 years: CAGR of 3.9%, with total growth of 21.1%

Future trends to watch include continued recovery post-pandemic, driven by infrastructure projects and governmental initiatives to bolster the construction sector. Keeping an eye on global economic conditions and domestic policy changes will also be key to anticipating further growth or potential downturns in the market.