Latvia - Outboard Motors for Marine Propulsion - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLatvia: Outboard Boat Motors Market 2024
Outboard Boat Motors Market Size in Latvia
After five years of growth, the Latvian outboard boat motors market decreased by X% to $X in 2023. Overall, consumption, however, recorded a temperate increase. Outboard boat motors consumption peaked at $X in 2022, and then contracted significantly in the following year.
Outboard Boat Motors Exports
Exports from Latvia
In 2023, shipments abroad of outboard motors for marine propulsion increased by X% to X units, rising for the third consecutive year after three years of decline. In general, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, outboard boat motors exports surged to $X in 2023. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the immediate term.
Exports by Country
Kyrgyzstan (X units) was the main destination for outboard boat motors exports from Latvia, accounting for a X% share of total exports. Moreover, outboard boat motors exports to Kyrgyzstan exceeded the volume sent to the second major destination, Azerbaijan (X units), fourfold. Lithuania (X units) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Kyrgyzstan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (X% per year) and Lithuania (X% per year).
In value terms, Kyrgyzstan ($X) emerged as the key foreign market for outboard motors for marine propulsion exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total exports. It was followed by Poland, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to Kyrgyzstan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Poland (X% per year).
Export Prices by Country
In 2023, the average outboard boat motors export price amounted to $X per unit, declining by X% against the previous year. Over the period under review, the export price, however, recorded a noticeable expansion. The growth pace was the most rapid in 2016 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Azerbaijan ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (X%), while the prices for the other major destinations experienced more modest paces of growth.
Outboard Boat Motors Imports
Imports into Latvia
Outboard boat motors imports into Latvia expanded to X units in 2023, growing by X% against 2022 figures. In general, total imports indicated a perceptible expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Imports peaked in 2023 and are expected to retain growth in years to come.
In value terms, outboard boat motors imports soared to $X in 2023. Over the period under review, imports saw a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked in 2023 and are likely to see gradual growth in years to come.
Imports by Country
Poland (X units), Hungary (X units) and Finland (X units) were the main suppliers of outboard boat motors imports to Latvia, with a combined X% share of total imports.
From 2012 to 2023, the biggest increases were recorded for Poland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Poland ($X) constituted the largest supplier of outboard motors for marine propulsion to Latvia, comprising X% of total imports. The second position in the ranking was held by Hungary ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.
From 2012 to 2023, the average annual growth rate of value from Poland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Belgium (X% per year).
Import Prices by Country
The average outboard boat motors import price stood at $X per unit in 2023, with an increase of X% against the previous year. In general, import price indicated a strong increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, outboard boat motors import price increased by X% against 2018 indices. The growth pace was the most rapid in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2023 and is likely to see gradual growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per unit), while the price for Finland ($X per unit) was amongst the lowest.
From 2012 to 2023, 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
This report provides an in-depth analysis of the outboard boat motors 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 28111100 - Marine propulsion spark ignition reciprocating or rotary internal combustion piston engines, outboard motors
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
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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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