| Product Code: ETC5025459 | 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 |
The market for electric and acoustic guitar strings import shipments in Latvia saw a significant shift in 2024, with top exporting countries including Germany, Netherlands, USA, Finland, and Estonia. The Herfindahl-Hirschman Index (HHI) indicating market concentration increased from moderate to high in 2024, suggesting a more consolidated market landscape. The compound annual growth rate (CAGR) from 2020 to 2024 was -8.5%, with a notable decline in growth rate from 2023 to 2024 at -22.76%. These trends may indicate evolving dynamics in the industry and potential challenges for market players to navigate.

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 Electric and Acoustic Guitar Strings Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Electric and Acoustic Guitar Strings Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Electric and Acoustic Guitar Strings Market - Industry Life Cycle |
3.4 Latvia Electric and Acoustic Guitar Strings Market - Porter's Five Forces |
3.5 Latvia Electric and Acoustic Guitar Strings Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.6 Latvia Electric and Acoustic Guitar Strings Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Latvia Electric and Acoustic Guitar Strings Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Growing interest in music and musical instruments among youth in Latvia |
4.2.2 Increasing number of music schools and music programs promoting guitar playing |
4.2.3 Rise in disposable income leading to higher spending on musical instruments and accessories |
4.3 Market Restraints |
4.3.1 Competition from established international guitar string brands |
4.3.2 Fluctuating raw material prices impacting production costs |
5 Latvia Electric and Acoustic Guitar Strings Market Trends |
6 Latvia Electric and Acoustic Guitar Strings Market Segmentations |
6.1 Latvia Electric and Acoustic Guitar Strings Market, By Product Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Electric and Acoustic Guitar Strings Market Revenues & Volume, By Light, Custom Light, 2021-2031F |
6.1.3 Latvia Electric and Acoustic Guitar Strings Market Revenues & Volume, By Extra Light, 2021-2031F |
6.2 Latvia Electric and Acoustic Guitar Strings Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Latvia Electric and Acoustic Guitar Strings Market Revenues & Volume, By Acoustic Guitar, 2021-2031F |
6.2.3 Latvia Electric and Acoustic Guitar Strings Market Revenues & Volume, By Electric Guitar, 2021-2031F |
7 Latvia Electric and Acoustic Guitar Strings Market Import-Export Trade Statistics |
7.1 Latvia Electric and Acoustic Guitar Strings Market Export to Major Countries |
7.2 Latvia Electric and Acoustic Guitar Strings Market Imports from Major Countries |
8 Latvia Electric and Acoustic Guitar Strings Market Key Performance Indicators |
8.1 Number of music schools offering guitar lessons in Latvia |
8.2 Percentage of disposable income spent on musical instruments and accessories |
8.3 Number of music events and concerts featuring guitar performances in Latvia |
9 Latvia Electric and Acoustic Guitar Strings Market - Opportunity Assessment |
9.1 Latvia Electric and Acoustic Guitar Strings Market Opportunity Assessment, By Product Type, 2021 & 2031F |
9.2 Latvia Electric and Acoustic Guitar Strings Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Latvia Electric and Acoustic Guitar Strings Market - Competitive Landscape |
10.1 Latvia Electric and Acoustic Guitar Strings Market Revenue Share, By Companies, 2024 |
10.2 Latvia Electric and Acoustic Guitar Strings Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |