Latvia - Toothed Wheels, Chain Sprockets and Other Transmission Elements - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Toothed Wheels, Chain Sprockets and Other Transmission Elements in Latvia - 2023
Contents:
- Price for Toothed Wheels, Chain Sprockets and Other Transmission Elements in Latvia (CIF) - 2023
- Price for Toothed Wheels, Chain Sprockets and Other Transmission Elements in Latvia (FOB) - 2022
- Imports of Toothed Wheels, Chain Sprockets and Other Transmission Elements in Latvia
- Exports of Toothed Wheels, Chain Sprockets and Other Transmission Elements in Latvia
Price for Toothed Wheels, Chain Sprockets and Other Transmission Elements in Latvia (CIF) - 2023
The average import price for toothed wheels, chain sprockets and other transmission elements stood at $32,255 per ton in September 2023, increasing by 123% against the previous month. Over the period under review, the import price posted mild growth. The most prominent rate of growth was recorded in June 2023 when the average import price increased by 143% against the previous month. The import price peaked in September 2023.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Finland ($66,372 per ton), while the price for Belarus ($14,451 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Sweden (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Toothed Wheels, Chain Sprockets and Other Transmission Elements in Latvia (FOB) - 2022
In 2022, the average export price for toothed wheels, chain sprockets and other transmission elements amounted to $23,530 per ton, increasing by 8.5% against the previous year. In general, the export price recorded a resilient increase. The growth pace was the most rapid in 2013 an increase of 118%. The export price peaked at $27,240 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($73,383 per ton), while the average price for exports to Hong Kong SAR ($2,715 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Toothed Wheels, Chain Sprockets and Other Transmission Elements in Latvia
In 2022, approx. 469 tons of toothed wheels, chain sprockets and other transmission elements were imported into Latvia; surging by 37% on 2021. Overall, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +12.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.3% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of toothed wheels, chain sprockets and other transmission elements fell modestly to $6.9M in 2022. The total import value increased at an average annual rate of +10.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 18%. As a result, imports reached the peak of $6.9M, leveling off in the following year.
| Import of Toothed Wheels, Chain Sprockets and Other Transmission Elements in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 1,387 | 1,571 | 1,890 | 1,441 | 1.3% |
| Lithuania | 1,025 | 1,030 | 1,567 | 1,170 | 4.5% |
| Turkey | 387 | 637 | 580 | 1,109 | 42.0% |
| Italy | 299 | 451 | 561 | 664 | 30.5% |
| Sweden | 227 | 365 | 240 | 519 | 31.7% |
| China | 181 | 132 | 154 | 479 | 38.3% |
| Estonia | 281 | 178 | 188 | 146 | -19.6% |
| Russia | 317 | 72.9 | 63.2 | 37.4 | -51.0% |
| Others | 1,056 | 1,385 | 1,655 | 1,310 | 7.4% |
| Total | 5,160 | 5,821 | 6,897 | 6,875 | 10.0% |
Top Suppliers of Toothed Wheels, Chain Sprockets and Other Transmission Elements to Latvia in 2022:
- Turkey (155.5 tons)
- Germany (76.0 tons)
- Italy (63.3 tons)
- Sweden (52.2 tons)
- China (43.4 tons)
- Lithuania (39.1 tons)
- Russia (4.4 tons)
- Estonia (3.9 tons)
Exports of Toothed Wheels, Chain Sprockets and Other Transmission Elements in Latvia
For the fourth consecutive year, Latvia recorded growth in overseas shipments of toothed wheels, chain sprockets and other transmission elements, which increased by 16% to 97 tons in 2022. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 71%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in the near future.
In value terms, exports of toothed wheels, chain sprockets and other transmission elements soared to $2.3M in 2022. Overall, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +27.8% 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 +108.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 75%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Toothed Wheels, Chain Sprockets and Other Transmission Elements in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 518 | 1,105 | 1,342 | 1,205 | 32.5% |
| Lithuania | 171 | 99.3 | 101 | 396 | 32.3% |
| Belarus | 52.3 | 43.1 | 66.9 | 119 | 31.5% |
| Kazakhstan | 20.4 | 50.9 | 26.4 | 88.3 | 63.0% |
| Estonia | 40.4 | 40.0 | 57.0 | 56.0 | 11.5% |
| Sweden | 1.7 | 2.0 | 16.3 | 34.6 | 173.0% |
| Hong Kong SAR | N/A | N/A | N/A | 30.8 | 0% |
| China | 174 | 398 | N/A | 10.3 | -61.0% |
| Brazil | N/A | 109 | N/A | N/A | 0% |
| Others | 112 | 56.5 | 200 | 336 | 44.2% |
| Total | 1,090 | 1,904 | 1,810 | 2,275 | 27.8% |
Top Export Markets for Toothed Wheels, Chain Sprockets and Other Transmission Elements from Latvia in 2022:
- Russia (53.5 tons)
- Hong Kong SAR (11.4 tons)
- Sweden (6.0 tons)
- Belarus (5.5 tons)
- Lithuania (5.4 tons)
- Kazakhstan (3.7 tons)
- Estonia (3.4 tons)
- China (0.1 tons)
This report provides an in-depth analysis of the market for toothed wheels, chain sprockets and other transmission elements 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 28153930 - Parts of bearing housings
- Prodcom 28153950 - Parts of transmission, cam and crankshafts, cranks, plain shaft bearings, gears, ball/roller screws, gearboxes, torque converters, flywheels, pulleys, clutches, shaft couplings, u niversal joints
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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