Latvia Automotive Market (2025-2031) | Companies, Analysis, Outlook, Share, Revenue, Forecast, Industry, Segmentation, Size, Trends, Growth & Value
Market Forecast By Product Type (Electric, Hybrid Electric, Plug-In Hybrid Electric, Mild Hybrid, Natural Gas, Fuel Cell Electric, Diesel, Petrol) And Competitive Landscape
| Product Code: ETC5405041 | Publication Date: Nov 2023 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 |
Latvia Automotive Market Top 5 Importing Countries and Market Competition (HHI) Analysis
In 2024, Latvia`s automotive import market continued to thrive with top exporters being Germany, Poland, Lithuania, Finland, and Estonia. Despite moderate concentration indicated by the Herfindahl-Hirschman Index (HHI), the market showed a strong compound annual growth rate (CAGR) of 11.87% from 2020 to 2024. However, there was a slight decline in growth rate from 2023 to 2024 at -1.94%, suggesting a potential shift in market dynamics. Overall, the import shipments in the automotive sector reflect ongoing partnerships and trade relationships between Latvia and these key exporting countries.
Automotive Market: Latvia vs Top 5 Major Economies in 2027 (Europe)
In the Europe region, the Automotive market in Latvia is projected to expand at a stable growth rate of 3.29% by 2027. The largest economy is Germany, followed by United Kingdom, France, Italy and Russia.
Key Highlights of the Report:
- Latvia Automotive Market Outlook
- Market Size of Latvia Automotive Market, 2024
- Forecast of Latvia Automotive Market, 2031
- Historical Data and Forecast of Latvia Automotive Revenues & Volume for the Period 2021-2031
- Latvia Automotive Market Trend Evolution
- Latvia Automotive Market Drivers and Challenges
- Latvia Automotive Price Trends
- Latvia Automotive Porter`s Five Forces
- Latvia Automotive Industry Life Cycle
- Historical Data and Forecast of Latvia Automotive Market Revenues & Volume By Product Type for the Period 2021-2031
- Historical Data and Forecast of Latvia Automotive Market Revenues & Volume By Electric for the Period 2021-2031
- Historical Data and Forecast of Latvia Automotive Market Revenues & Volume By Hybrid Electric for the Period 2021-2031
- Historical Data and Forecast of Latvia Automotive Market Revenues & Volume By Plug-In Hybrid Electric for the Period 2021-2031
- Historical Data and Forecast of Latvia Automotive Market Revenues & Volume By Mild Hybrid for the Period 2021-2031
- Historical Data and Forecast of Latvia Automotive Market Revenues & Volume By Natural Gas for the Period 2021-2031
- Historical Data and Forecast of Latvia Automotive Market Revenues & Volume By Fuel Cell Electric for the Period 2021-2031
- Historical Data and Forecast of Latvia Automotive Market Revenues & Volume By Diesel for the Period 2021-2031
- Historical Data and Forecast of Latvia Electric Automotive Market Revenues & Volume By Petrol for the Period 2021-2031
- Latvia Automotive Import Export Trade Statistics
- Market Opportunity Assessment By Product Type
- Latvia Automotive Top Companies Market Share
- Latvia Automotive Competitive Benchmarking By Technical and Operational Parameters
- Latvia Automotive Company Profiles
- Latvia Automotive Key Strategic Recommendations
Frequently Asked Questions About the Market Study (FAQs):
6Wresearch actively monitors the Latvia Automotive Market and publishes its comprehensive annual report, highlighting emerging trends, growth drivers, revenue analysis, and forecast outlook. Our insights help businesses to make data-backed strategic decisions with ongoing market dynamics. Our analysts track relevent industries related to the Latvia Automotive Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
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 Automotive Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Automotive Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Automotive Market - Industry Life Cycle |
3.4 Latvia Automotive Market - Porter's Five Forces |
3.5 Latvia Automotive Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
4 Latvia Automotive Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing disposable income of the population leading to higher purchasing power for vehicles |
4.2.2 Government initiatives to promote electric vehicles and reduce carbon emissions |
4.2.3 Growth of tourism industry leading to higher demand for rental cars |
4.3 Market Restraints |
4.3.1 High import taxes and tariffs on vehicles impacting affordability for consumers |
4.3.2 Limited availability of charging infrastructure for electric vehicles |
4.3.3 Economic uncertainties affecting consumer confidence and willingness to make big purchases |
5 Latvia Automotive Market Trends |
6 Latvia Automotive Market Segmentations |
6.1 Latvia Automotive Market, By Product Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Automotive Market Revenues & Volume, By Electric, 2021-2031F |
6.1.3 Latvia Automotive Market Revenues & Volume, By Hybrid Electric, 2021-2031F |
6.1.4 Latvia Automotive Market Revenues & Volume, By Plug-In Hybrid Electric, 2021-2031F |
6.1.5 Latvia Automotive Market Revenues & Volume, By Mild Hybrid, 2021-2031F |
6.1.6 Latvia Automotive Market Revenues & Volume, By Natural Gas, 2021-2031F |
6.1.7 Latvia Automotive Market Revenues & Volume, By Fuel Cell Electric, 2021-2031F |
6.1.9 Latvia Automotive Market Revenues & Volume, By Petrol, 2021-2031F |
6.1.10 Latvia Automotive Market Revenues & Volume, By Petrol, 2021-2031F |
7 Latvia Automotive Market Import-Export Trade Statistics |
7.1 Latvia Automotive Market Export to Major Countries |
7.2 Latvia Automotive Market Imports from Major Countries |
8 Latvia Automotive Market Key Performance Indicators |
8.1 Average age of vehicles on the road |
8.2 Number of new vehicle registrations |
8.3 Investment in charging infrastructure for electric vehicles |
8.4 Average yearly mileage of vehicles |
8.5 Consumer sentiment towards purchasing vehicles |
9 Latvia Automotive Market - Opportunity Assessment |
9.1 Latvia Automotive Market Opportunity Assessment, By Product Type, 2021 & 2031F |
10 Latvia Automotive Market - Competitive Landscape |
10.1 Latvia Automotive Market Revenue Share, By Companies, 2024 |
10.2 Latvia Automotive Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |
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