Report Update: May 6, 2024

Latvia - Motor Vehicles Compression-Ignition Internal Combustion Piston Engines - Market Analysis, Forecast, Size, Trends and Insights

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Internal Combustion Engines Price in Latvia - 2023

Internal Combustion Engines Price in Latvia (CIF) - 2022

In 2022, the average internal combustion engines import price amounted to $1,446 per unit, reducing by -13.3% against the previous year. Overall, the import price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by 69%. Over the period under review, average import prices hit record highs at $3,471 per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($8,970 per unit), while the price for Spain ($85 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Internal Combustion Engines Price in Latvia (FOB) - 2022

In 2022, the average internal combustion engines export price amounted to $471 per unit, with a decrease of -18.6% against the previous year. In general, the export price showed a abrupt slump. The pace of growth was the most pronounced in 2019 when the average export price increased by 40%. The export price peaked at $1,636 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($2,229 per unit), while the average price for exports to Belarus ($178 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+60.4%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports in Latvia

Internal combustion engines imports into Latvia stood at 1.6K units in 2022, increasing by 14% on the previous year. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 86%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, internal combustion engines imports contracted slightly to $2.3M in 2022. In general, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 86%. As a result, imports attained the peak of $2.4M, and then declined modestly in the following year.

Import of Internal Combustion Engines in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Poland	80.0	91.3	343	565	91.9%
Germany	489	406	280	494	0.3%
Estonia	13.4	14.5	679	250	165.2%
Lithuania	49.8	258	266	236	68.0%
France	10.1	N/A	4.1	176	159.3%
Finland	84.1	115	181	115	11.0%
Czech Republic	489	135	136	87.5	-43.6%
Japan	N/A	N/A	N/A	74.1	0%
Spain	N/A	N/A	N/A	17.0	0%
Others	89.2	257	479	329	54.5%
Total	1,304	1,275	2,370	2,343	21.6%

Top Suppliers of Internal Combustion Engines to Latvia in 2022:

Poland (394.0 units)
Lithuania (393.0 units)
Germany (243.0 units)
Spain (201.0 units)
Japan (98.0 units)
Estonia (63.0 units)
France (59.0 units)
Czech Republic (40.0 units)
Finland (31.0 units)

Internal Combustion Engines Exports in Latvia

In 2022, shipments abroad of motor vehicles compression-ignition internal combustion piston engines decreased by -8.6% to 1.4K units for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +19.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 38%. The exports peaked at 1.6K units in 2021, and then fell in the following year.

In value terms, internal combustion engines exports fell notably to $677K in 2022. Over the period under review, exports showed a abrupt decline. The pace of growth appeared the most rapid in 2020 with an increase of 43% against the previous year. As a result, the exports reached the peak of $1.2M. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Internal Combustion Engines in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Belarus	334	192	218	113	-30.3%
Kazakhstan	0.1	1.6	1.0	103	909.9%
Russia	16.5	117	43.8	72.7	63.9%
Uzbekistan	N/A	N/A	N/A	71.7	0%
United Arab Emirates	N/A	143	61.2	59.8	-35.3%
Turkey	N/A	N/A	7.3	53.0	626.0%
Kyrgyzstan	0.6	0.5	0.2	27.4	257.4%
Iraq	N/A	42.4	99.9	N/A	135.6%
Others	474	681	478	177	-28.0%
Total	825	1,178	910	677	-6.4%

Top Export Markets for Internal Combustion Engines from Latvia in 2022:

Belarus (633.0 units)
Uzbekistan (301.0 units)
United Arab Emirates (109.0 units)
Kyrgyzstan (98.0 units)
Russia (92.0 units)
Turkey (77.0 units)
Kazakhstan (46.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the internal combustion engines market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 29101300 - Vehicle compression-ignition internal combustion piston engines (diesel or semi-diesel) (excluding for railway or tramway rolling stock)

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023