The import of air conditioning equipment and machinery to Malaysia in 2023 stood at USD 331.74 million. Year-on-year variations over the last two years have shown a consistent growth, with 2.58% in 2022 and 2.46% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years has exhibited an upward trend, averaging at 2.48% annually.
Looking at the forecasted data, the imports are expected to continue to grow, reaching USD 373.39 million by 2028, representing a forecasted 5-year CAGR of 1.86%. This indicates a forecasted 5-year growth rate of 9.66% overall.
Future trends to watch for include technological advancements in air conditioning systems, increased demand driven by urban development, and potential trade policy changes that could impact import dynamics.
