Latvia: Market for Machinery for Filtering or Purifying Gases 2024

Market Size for Machinery for Filtering or Purifying Gases in Latvia

For the fourth year in a row, the Latvian market for machinery for filtering or purifying gases recorded growth in sales value, which increased by X% to $X in 2022. Overall, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Machinery for Filtering or Purifying Gases in Latvia

In value terms, production of machinery for filtering or purifying gases rose significantly to $X in 2022 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, production of attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Machinery for Filtering or Purifying Gases

Exports from Latvia

In 2022, overseas shipments of machinery for filtering or purifying gases decreased by X% to X units, falling for the second consecutive year after three years of growth. In general, exports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports of attained the maximum at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, exports of machinery for filtering or purifying gases dropped notably to $X in 2022. Overall, exports, however, posted a resilient increase. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports of reached the maximum at $X in 2021, and then dropped notably in the following year.

Exports by Country

Sweden (X units), the United States (X units) and the Netherlands (X units) were the main destinations of exports of machinery for filtering or purifying gases from Latvia, with a combined X% share of total exports. Norway, France, Russia, Finland, the UK, Italy, Germany, the Czech Republic, Denmark and Hungary lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machinery for filtering or purifying gases exported from Latvia were Sweden ($X), the United States ($X) and Russia ($X), with a combined X% share of total exports. The Netherlands, Norway, France, Germany, Finland, the UK, Denmark, Italy, the Czech Republic and Hungary lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, the Czech Republic, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for machinery for filtering or purifying gases amounted to $X per unit, reducing by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to France ($X 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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machinery for Filtering or Purifying Gases

Imports into Latvia

In 2022, imports of machinery for filtering or purifying gases into Latvia declined significantly to X units, which is down by X% on the previous year. Over the period under review, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports of reached the peak figure at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of machinery for filtering or purifying gases declined notably to $X in 2022. Overall, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

Germany (X units), Poland (X units) and Lithuania (X units) were the main suppliers of imports of machinery for filtering or purifying gases to Latvia, with a combined X% share of total imports. Italy, Finland, Slovenia, China, Sweden, Slovakia, Austria, Estonia, France and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest machinery for filtering or purifying gases suppliers to Latvia were Poland ($X), Germany ($X) and Finland ($X), together comprising X% of total imports. Lithuania, Italy, Slovenia, Sweden, Belgium, Estonia, China, France, Austria and Slovakia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, China, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for machinery for filtering or purifying gases stood at $X per unit in 2022, surging by X% against the previous year. In general, the import price, however, saw a mild descent. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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