Latvia: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Latvia

The Latvian air conditioning machine market skyrocketed to $X in 2022, rising by X% against the previous year. In general, consumption, however, saw a slight descent. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Air Conditioning Machine Production in Latvia

In value terms, air conditioning machine production surged to $X in 2022 estimated in export price. Overall, production showed a slight increase. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Air Conditioning Machine Exports

Exports from Latvia

After two years of growth, shipments abroad of non-window or wall air conditioning machines decreased by X% to X units in 2022. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then contracted rapidly in the following year.

In value terms, air conditioning machine exports declined notably to $X in 2022. Over the period under review, exports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then fell dramatically in the following year.

Exports by Country

Estonia (X units) was the main destination for air conditioning machine exports from Latvia, accounting for a X% share of total exports. Moreover, air conditioning machine exports to Estonia exceeded the volume sent to the second major destination, the Netherlands (X units), twofold. The third position in this ranking was taken by Poland (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Estonia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Poland (X% per year).

In value terms, Estonia ($X) remains the key foreign market for non-window or wall air conditioning machines exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Poland ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average air conditioning machine export price amounted to $X per unit, rising by X% against the previous year. Overall, the export price, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per unit), while the average price for exports to the Netherlands ($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 Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Latvia

In 2022, overseas purchases of non-window or wall air conditioning machines decreased by X% to X units, falling for the second year in a row after six years of growth. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, air conditioning machine imports rose to $X in 2022. In general, imports, however, showed a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

Poland (X units), Denmark (X units) and Lithuania (X units) were the main suppliers of air conditioning machine imports to Latvia, together accounting for X% of total imports.

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

In value terms, the largest air conditioning machine suppliers to Latvia were Lithuania ($X), Poland ($X) and China ($X), with a combined X% share of total imports. Italy, Sweden, Denmark, the Netherlands, the Czech Republic and the UK lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Italy, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average air conditioning machine import price amounted to $X per unit, with an increase of X% against the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price 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, air conditioning machine import price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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