| Product Code: ETC7907958 | Publication Date: Sep 2024 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Sumit Sagar | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
In 2024, Latvia continued to see a steady influx of air source heat pump imports despite its cold climate, with top exporters being China, Lithuania, Sweden, Estonia, and Belgium. The market concentration, as measured by the HHI index, remained at a moderate level, indicating a healthy level of competition among suppliers. The sector experienced strong growth with a CAGR of 13.43% from 2020 to 2024, and a growth rate of 1.02% in 2024 alone, showcasing the increasing demand for energy-efficient heating solutions in the Latvian market.

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 Cold Climate Air Source Heat Pump Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Cold Climate Air Source Heat Pump Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Cold Climate Air Source Heat Pump Market - Industry Life Cycle |
3.4 Latvia Cold Climate Air Source Heat Pump Market - Porter's Five Forces |
3.5 Latvia Cold Climate Air Source Heat Pump Market Revenues & Volume Share, By Product, 2021 & 2031F |
3.6 Latvia Cold Climate Air Source Heat Pump Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.7 Latvia Cold Climate Air Source Heat Pump Market Revenues & Volume Share, By Operation Type, 2021 & 2031F |
4 Latvia Cold Climate Air Source Heat Pump Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing awareness about energy efficiency and environmental concerns |
4.2.2 Government initiatives promoting the use of renewable energy sources |
4.2.3 Technological advancements in cold climate air source heat pump systems |
4.3 Market Restraints |
4.3.1 High initial cost of cold climate air source heat pump systems |
4.3.2 Limited consumer awareness and understanding of the benefits of these systems |
4.3.3 Dependence on external factors such as weather conditions affecting performance |
5 Latvia Cold Climate Air Source Heat Pump Market Trends |
6 Latvia Cold Climate Air Source Heat Pump Market, By Types |
6.1 Latvia Cold Climate Air Source Heat Pump Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 Latvia Cold Climate Air Source Heat Pump Market Revenues & Volume, By Product, 2021- 2031F |
6.1.3 Latvia Cold Climate Air Source Heat Pump Market Revenues & Volume, By Split Systems, 2021- 2031F |
6.1.4 Latvia Cold Climate Air Source Heat Pump Market Revenues & Volume, By Single Package Equipment, 2021- 2031F |
6.2 Latvia Cold Climate Air Source Heat Pump Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Latvia Cold Climate Air Source Heat Pump Market Revenues & Volume, By Residential, 2021- 2031F |
6.2.3 Latvia Cold Climate Air Source Heat Pump Market Revenues & Volume, By Commercial, 2021- 2031F |
6.3 Latvia Cold Climate Air Source Heat Pump Market, By Operation Type |
6.3.1 Overview and Analysis |
6.3.2 Latvia Cold Climate Air Source Heat Pump Market Revenues & Volume, By Electric, 2021- 2031F |
6.3.3 Latvia Cold Climate Air Source Heat Pump Market Revenues & Volume, By Hybrid, 2021- 2031F |
7 Latvia Cold Climate Air Source Heat Pump Market Import-Export Trade Statistics |
7.1 Latvia Cold Climate Air Source Heat Pump Market Export to Major Countries |
7.2 Latvia Cold Climate Air Source Heat Pump Market Imports from Major Countries |
8 Latvia Cold Climate Air Source Heat Pump Market Key Performance Indicators |
8.1 Energy efficiency rating of cold climate air source heat pump systems |
8.2 Number of government incentives and subsidies supporting the adoption of these systems |
8.3 Rate of adoption of cold climate air source heat pump systems compared to traditional heating systems |
9 Latvia Cold Climate Air Source Heat Pump Market - Opportunity Assessment |
9.1 Latvia Cold Climate Air Source Heat Pump Market Opportunity Assessment, By Product, 2021 & 2031F |
9.2 Latvia Cold Climate Air Source Heat Pump Market Opportunity Assessment, By Application, 2021 & 2031F |
9.3 Latvia Cold Climate Air Source Heat Pump Market Opportunity Assessment, By Operation Type, 2021 & 2031F |
10 Latvia Cold Climate Air Source Heat Pump Market - Competitive Landscape |
10.1 Latvia Cold Climate Air Source Heat Pump Market Revenue Share, By Companies, 2024 |
10.2 Latvia Cold Climate Air Source Heat Pump Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |