Malaysia Electrical Materials Market by Type (Circuit Breakers, Light Switches, Plugs & Sockets, Voltage Switcher, Cable Management, Cable Duct, Electrical Conduit, Others), By End-User Industry (Industrial, Commercial, Residential), By Region, Competition Forecast & Opportunities, 2028
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Power | Format: Report available in PDF / Excel Format
View Details Download Sample Ask for Discount Request CustomizationMalaysia Electrical Materials Market by Type (Circuit Breakers, Light Switches, Plugs & Sockets, Voltage Switcher, Cable Management, Cable Duct, Electrical Conduit, Others), By End-User Industry (Industrial, Commercial, Residential), By Region, Competition Forecast & Opportunities, 2028
Malaysia Electrical Materials Market
The Malaysia Electrical Materials Market is rapidly growing and has become a significant contributor to the country's economy. Malaysia has a rapidly growing economy with an increasing demand for electricity. The electrical materials market in Malaysia is expanding, driven by the growth of the construction industry, infrastructure projects, and the expansion of the manufacturing sector.
Growing demand for electricity
The growing demand for electricity in Malaysia is a key driver for the expansion of the electrical materials market. The demand for electricity in the country is increasing rapidly due to population growth, urbanization, and expansion of the manufacturing sector. The government is investing in the development of power generation capacity, including from renewable energy sources, which is driving demand for electrical equipment such as transformers, switchgear, and other related products. In addition, Malaysia is a fast-growing economy with a strong focus on infrastructure development, including the construction of highways, bridges, and public transportation systems, which require significant amounts of electrical materials. In addition, government initiatives to improve energy efficiency and sustainability are driving demand for high-quality, energy-efficient electrical materials.
Overall, the growing demand for electricity in Malaysia is creating significant opportunities for the electrical materials market, with companies focusing on innovation and development to meet the changing needs of the market. This trend is expected to continue as the country continues to develop and modernize its infrastructure and industry, further boosting demand for electrical materials.. The government is investing in the development of power generation capacity, which is driving demand for electrical equipment.
Expansion of the manufacturing sector
The expansion of the manufacturing sector is a key driver for the growth of the electrical materials market in Malaysia. The manufacturing sector is a significant contributor to the country's economy, and its growth has led to an increased demand for electrical materials, such as motors, transformers, and switchgear. As Malaysia continues to position itself as a major manufacturing hub, the demand for electrical materials is expected to grow even further. The manufacturing sector requires reliable and high-quality electrical equipment to power their operations, and as such, there is a growing need for innovative electrical materials that can meet the specific requirements of the industry. Moreover, the expansion of the manufacturing sector is driving the demand for automation and smart manufacturing technologies, which require advanced electrical equipment and components. This trend is driving the development of new electrical materials that are designed to be more energy-efficient, reliable, and flexible to cater to the needs of the manufacturing industry.
Overall, the expansion of the manufacturing sector is a significant driver for the growth of the electrical materials market in Malaysia, creating opportunities for local and international manufacturers to expand their operations and develop innovative products to meet the changing needs of the market.
Expansion of the infrastructure development
Malaysia's electrical materials industry is an essential part of the country's infrastructure development, which is driven by the government's efforts to improve the quality of life and support economic growth. The industry is responsible for providing the necessary electrical materials, equipment, and services required for the construction and maintenance of infrastructure projects such as power plants, transmission lines, and distribution networks.
Recent Developments
- On
April 2022, General Electric Co. and the energy firm Edra Energy Sdn Bhd have
opened a sizable new natural gas power facility in Malaysia. The
combined-cycle power plant has a 2.2-gigawatt capacity, which can meet up to
10% of Malaysia's electrical requirements. The term Edra is a popular acronym
for Edra Energy Sdn Bhd. The high-efficiency plant uses steam turbines to
produce additional electricity from the surplus steam produced by the natural
gas-powered turbines. By 2039, the country would need more than 24 gigawatts of
electrical capacity, up from 18.8 gigawatts in 2020, while also attempting to
wean itself off of coal power plants.
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Market Segments
The Malaysia Electrical Materials Market is segmented into Type, End-User Industry, Region and Competitive Landscape. Based on Type, the market is segmented into Circuit Breakers, Light Switches, Plugs & Sockets, Voltage Switcher, Cable Management, Cable Duct, Electrical Conduit, Others. Based on End-User Industry, the market is fragmented into Industrial, Commercial, Residential.
Market Players
Major market players in Malaysia
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018 –
2021 |
|
Estimated Year |
2023 |
|
Forecast Period |
2024
– 2028 |
|
Quantitative Units |
Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
|
Report coverage |
Revenue
forecast, company share, growth factors, and trends |
|
Segments covered |
By Type By End-User Industry By Region |
|
Regional scope |
Eastern
Region, Northern Region, Central Region, Southern Region, East Malaysia |
|
Key companies profiled |
ABB Malaysia Sdn. Bhd., Tenaga Nasional Berhad, Schneider
Electric IT Malaysia Sdn Bhd, ViTrox Corporation Berhad, Sarawak Energy
Berhad, Seal Cable Sdn Bhd, Nepso Engineering Sdn Bhd, Malakoff Corporation
Berhad, Arup Jururunding Sdn Bhd, Texas Instruments. |
|
Customization scope |
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
Pricing and purchase options |
Avail customized purchase options to meet your exact research
needs. Explore purchase options |
|
Delivery Format |
PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request) |
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