The import of air conditioners with reverse cycle refrigeration to Malaysia has shown significant fluctuations over the past decade. In 2023, the value stood at $12.824 million. The data from previous years highlight notable peaks in 2014 and 2016 and drastic drops in 2015 and 2018, indicating an unstable trend. For instance, 2014 had a year-on-year increase of 119.33%, while 2018 saw a decrease of 63.67%. Recent data show increased stability, with minor year-on-year changes, such as a 1.46% increase in 2023.
Looking at the compound annual growth rate (CAGR), the last five years have averaged an 11.46% increase per year. This shows relatively strong growth, although future growth is expected to be more moderate, with a forecasted CAGR of 1.14% from 2024 to 2028.
Future trends to watch for:
- Changes in energy efficiency regulations.
- Emerging technologies in climate control.
- Economic conditions affecting consumer purchasing power in Malaysia.
- Potential impacts of global supply chain disruptions.