The import of electric lamps and lighting fittings to Malaysia has been on a steady increase, reflecting a healthy demand for these products. In 2023, the import volume stood at 18.45 million kilograms. From 2024 to 2028, the import volume is forecasted to rise consistently from 19.203 million kilograms to 22.293 million kilograms. This increase is attributed to a growing infrastructure and construction sector which demands more lighting solutions.
The year-on-year growth rates are as follows:
- 2024 to 2025: 4.14%
- 2025 to 2026: 3.91%
- 2026 to 2027: 3.68%
- 2027 to 2028: 3.48%
Over the last two years, there has been an average variation of approximately 3.80% per year, indicating a consistent upward trend. The compound annual growth rate (CAGR) over the last five years is estimated to be around 3.80%, showcasing steady growth.
Future trends to watch for include advancements in LED technology, changes in government policies promoting energy efficiency, and shifts in consumer preferences towards smart lighting solutions. Additionally, any fluctuations in global supply chains and raw material availability could impact the forecasted growth.
