The electrical equipment industry's contribution to Malaysia's GDP remained stable at 0.4 units from 2013 to 2016. From 2017 to 2023, this figure increased to 0.5 units, depicting a stable trajectory. The year-on-year variation held constant from 2022 to 2023. From 2024 onwards, projections indicate an increase to 0.6 units by 2025, maintaining this level through 2028. The forecasted 5-year CAGR is 3.71%, amounting to a 20% growth rate by 2028.
Future trends to watch for include technological advancements, government policies promoting industrial growth, and increasing demand for sustainable and smart electrical equipment. Keeping an eye on these factors will offer insights into potential acceleration in the sector's contribution to GDP.
