| Product Code: ETC5133455 | Publication Date: Nov 2023 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Shubham Padhi | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 |
Latvia`s power transformer import market saw significant growth in 2024, with top exporting countries being Turkey, Bulgaria, Serbia, Germany, and Slovakia. The market remained highly concentrated, as indicated by the high HHI score. The impressive Compound Annual Growth Rate (CAGR) of 75.4% from 2020 to 2024 reflects the robust expansion of the industry. Moreover, the exceptional growth rate of 203.31% from 2023 to 2024 signals a rapid acceleration in import shipments, showcasing strong demand and opportunities for further development in the Latvian power transformer market.

In the Europe region, the Power Transformer market in Latvia is projected to expand at a stable growth rate of 0.43% by 2027. The largest economy is Germany, followed by United Kingdom, France, Italy and Russia.

1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Latvia Power Transformer Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Power Transformer Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Power Transformer Market - Industry Life Cycle |
3.4 Latvia Power Transformer Market - Porter's Five Forces |
3.5 Latvia Power Transformer Market Revenues & Volume Share, By Rating, 2021 & 2031F |
4 Latvia Power Transformer Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for renewable energy sources in Latvia leading to the establishment of new power plants and distribution networks. |
4.2.2 Government initiatives and investments in upgrading and modernizing the power grid infrastructure. |
4.2.3 Growing industrial activities and urbanization increasing the need for reliable and efficient power transmission and distribution systems. |
4.3 Market Restraints |
4.3.1 Fluctuating raw material prices impacting the manufacturing cost of power transformers. |
4.3.2 Regulatory challenges and compliance requirements affecting the market entry of new players. |
4.3.3 Slowdown in economic growth leading to a decrease in infrastructure investments and demand for power transformers. |
5 Latvia Power Transformer Market Trends |
6 Latvia Power Transformer Market Segmentations |
6.1 Latvia Power Transformer Market, By Rating |
6.1.1 Overview and Analysis |
6.1.2 Latvia Power Transformer Market Revenues & Volume, By Low (5 MVA to 100 MVA), 2021-2031F |
6.1.3 Latvia Power Transformer Market Revenues & Volume, By Medium (100 MVA to 500 MVA), 2021-2031F |
6.1.4 Latvia Power Transformer Market Revenues & Volume, By High (above 500 MVA), 2021-2031F |
7 Latvia Power Transformer Market Import-Export Trade Statistics |
7.1 Latvia Power Transformer Market Export to Major Countries |
7.2 Latvia Power Transformer Market Imports from Major Countries |
8 Latvia Power Transformer Market Key Performance Indicators |
8.1 Average age of power transformers in operation. |
8.2 Percentage of power outages due to transformer failures. |
8.3 Investment in smart grid technologies. |
8.4 Adoption rate of energy-efficient transformers. |
8.5 Number of new power generation projects in the pipeline. |
9 Latvia Power Transformer Market - Opportunity Assessment |
9.1 Latvia Power Transformer Market Opportunity Assessment, By Rating, 2021 & 2031F |
10 Latvia Power Transformer Market - Competitive Landscape |
10.1 Latvia Power Transformer Market Revenue Share, By Companies, 2024 |
10.2 Latvia Power Transformer Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |