Over the period from 2016 to 2023, the production in the repair of consumer electronics sector in Malta exhibited an upward trajectory, reaching 5.3 million euros in 2023. The year-on-year variations show a fluctuating yet predominantly positive trend, especially marked by a notable increase of 17.95% in 2019. The sector experienced a slight downturn in 2020 with a 4.35% decrease, but quickly rebounded in subsequent years. The compound annual growth rate (CAGR) over the last five years stood at 6.33%, indicating a robust and steady growth pattern.
Looking ahead, the forecasts from 2024 to 2028 suggest continued growth with the production estimated to reach 6.8 million euros by 2028. The forecasted five-year CAGR is 3.96%, projecting a more moderate but sustained increase.
Future trends to watch for:
- Integration of advanced technologies in repair processes, potentially increasing efficiency and output.
- Growing consumer demand for sustainable practices, leading to more repair rather than replacement of electronics.
- Potential impacts of regulatory changes and economic conditions on the sector.