Industria
Malaysia Auto Industry Shifts Gears: 73% of Workforce Gears Up for Automation & Skills Challenges: Ken Research
From established domestic players like Proton and Perodua to attracting major global manufacturers, Malaysia has cemented its position as a key player in the global automotive scene. This industry, boasting over 700,000 employees across manufacturing, sales, and after-sales services, significantly contributes to the country's GDP.
The report emphasizes the transformative impact of Industry 4.0 technologies like automation and smart manufacturing. However, this necessitates upskilling and reskilling initiatives for the workforce to remain competitive. The survey findings reveal:
The Malaysian government's National Automotive Policy (NAP) tackles these challenges by:
The report urges stakeholders across the industry to:
The market will grow at a CAGR of 10.4% during 2022-2028 due to government initiative in the mining and agricultural sector of the country. Global Partnership and Collaboration: Expansion and entry of multiple companies reflecting the growth potential in the lubricant market of the country. The manufacturers of oils and lubricants Briton Lubricant Ltd based in Uganda planned to enter the Democratic Republic of Congo's market.
KSA Carwash Market is expected to reach 1379.7 SAR Mn in 2030 which is valued at 494.1 SAR Mn in 2022. The market is expected to grow with a CAGR of 13.7% during 2022-2030. The market is growing due to various factors like rising vehicle ownership, urbanization and lifestyle changes and helpful expansion of consumers offerings.
The market is expected to grow substantially during 2022-2027 owing to factors such as Increasing tourism, the need for mobility, technology integration and government initiatives to develop the economy. Under the Saudi Vision 2030, the demand for leasing would further increase as other sectors like imported goods have to be transported by trucks which will increase the demand for them to be leased trucks in country.
Ken Research Private Limited
Ankur Gupta , Director Strategy and Growth
+91-9015378249
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