Latvia: Market for Motorcycles, Scooters and Side-Cars 2024

Market Size for Motorcycles, Scooters and Side-Cars in Latvia

The Latvian motorcycle, scooter and side-car market skyrocketed to $X in 2022, jumping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a significant expansion. Motorcycle, scooter and side-car consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports of Motorcycles, Scooters and Side-Cars

Exports from Latvia

In 2022, after five years of growth, there was significant decline in shipments abroad of motorcycles, scooters and side-cars, when their volume decreased by X% to X units. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at X units in 2021, and then dropped significantly in the following year.

In value terms, motorcycle, scooter and side-car exports fell modestly to $X in 2022. Overall, exports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then fell slightly in the following year.

Exports by Country

Poland (X units), Lithuania (X units) and Estonia (X units) were the main destinations of motorcycle, scooter and side-car exports from Latvia, with a combined X% share of total exports. Kyrgyzstan, France, Sweden and Slovenia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for motorcycle, scooter and side-car exported from Latvia were Poland ($X), Lithuania ($X) and Estonia ($X), with a combined X% share of total exports. France, Kyrgyzstan, Sweden and Slovenia lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

The average motorcycle, scooter and side-car export price stood at $X per unit in 2022, jumping by X% against the previous year. In general, the export price, however, saw a abrupt decline. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a 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 Estonia ($X per unit), while the average price for exports to Kyrgyzstan ($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 Slovenia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Motorcycles, Scooters and Side-Cars

Imports into Latvia

For the fifth year in a row, Latvia recorded growth in supplies from abroad of motorcycles, scooters and side-cars, which increased by X% to X units in 2022. Overall, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, motorcycle, scooter and side-car imports reached $X in 2022. Over the period under review, imports showed a strong expansion. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest motorcycle, scooter and side-car supplier to Latvia, with a X% share of total imports. Moreover, motorcycle, scooter and side-car imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), twofold. The third position in this ranking was held by Denmark (X units), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Denmark (X% per year).

In value terms, Germany ($X), the Netherlands ($X) and Austria ($X) constituted the largest motorcycle, scooter and side-car suppliers to Latvia, with a combined X% share of total imports. China, Estonia, Lithuania, Denmark and Italy lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

In 2022, the average motorcycle, scooter and side-car import price amounted to $X per unit, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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