Forecast: Commercial Vehicles Registrations in Malaysia

The commercial vehicle registrations in Malaysia saw a peak in 2013 at 79.14 thousand units, followed by a general downward trend. Significant declines occurred in 2016, 2019, and a drastic drop in 2020 due to economic factors and possibly the pandemic impact. A sharp recovery was observed in 2022 with a rise to 62.16 thousand units. However, 2023 saw another significant dip to 32.96 thousand units, indicating volatility in this market.

Year-on-year variations over the last two years show a stark contrast, with a 752% increase in 2022 followed by a 46.97% decline in 2023.

From 2024 onwards, the forecast data shows a consistent decrease in commercial vehicle registrations, suggesting a challenging market ahead. The projected Compound Annual Growth Rate (CAGR) over the next five years is -9.53%, leading to a decrease by 39.38% by 2028.

Future trends to watch for include the impact of economic recovery post-pandemic, potential regulatory changes in emissions and vehicle standards, and advancements in electric and autonomous commercial vehicles, which may reshape the market landscape significantly.