Latvia Electric Utility Vehicle Market (2025-2031) | Size, Forecast, Analysis, Value, Industry, Outlook, Share, Revenue, Companies, Segmentation, Growth & Trends

Name: Latvia Electric Utility Vehicle Market (2025-2031) | Forecast & Revenue
Creator: 6Wresearch
License: https://www.6wresearch.com/privacy-policy

Market Forecast By Battery Type (Lead Acid, Lithium-Ion), By Drive Type (2WD, 4WD, AWD), By Propulsion (Pure Electric, Hybrid Electric) And Competitive Landscape

Product Code: ETC5871453	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 Electric Utility Vehicle Market Top 5 Importing Countries and Market Competition (HHI) Analysis

In 2024, Latvia saw a significant increase in electric utility vehicle import shipments, with top exporting countries being Estonia, Germany, Netherlands, Lithuania, and Czechia. The market showed a high Herfindahl-Hirschman Index (HHI) concentration, indicating strong competitive dynamics. The compound annual growth rate (CAGR) from 2020 to 2024 was an impressive 66.84%, with a notable growth rate of 96.0% from 2023 to 2024. This data suggests a robust and rapidly expanding market for electric utility vehicles in Latvia, driven by imports from key European countries.

Latvia Electric Utility Vehicle Market Top 5 Importing Countries and Market Competition (HHI) Analysis

Key Highlights of the Report:

Latvia Electric Utility Vehicle Market Outlook
Market Size of Latvia Electric Utility Vehicle Market, 2024
Forecast of Latvia Electric Utility Vehicle Market, 2031
Historical Data and Forecast of Latvia Electric Utility Vehicle Revenues & Volume for the Period 2021-2031
Latvia Electric Utility Vehicle Market Trend Evolution
Latvia Electric Utility Vehicle Market Drivers and Challenges
Latvia Electric Utility Vehicle Price Trends
Latvia Electric Utility Vehicle Porter`s Five Forces
Latvia Electric Utility Vehicle Industry Life Cycle
Historical Data and Forecast of Latvia Electric Utility Vehicle Market Revenues & Volume By Battery Type for the Period 2021-2031
Historical Data and Forecast of Latvia Electric Utility Vehicle Market Revenues & Volume By Lead Acid for the Period 2021-2031
Historical Data and Forecast of Latvia Electric Utility Vehicle Market Revenues & Volume By Lithium-Ion for the Period 2021-2031
Historical Data and Forecast of Latvia Electric Utility Vehicle Market Revenues & Volume By Drive Type for the Period 2021-2031
Historical Data and Forecast of Latvia Electric Utility Vehicle Market Revenues & Volume By 2WD for the Period 2021-2031
Historical Data and Forecast of Latvia Electric Utility Vehicle Market Revenues & Volume By 4WD for the Period 2021-2031
Historical Data and Forecast of Latvia Electric Utility Vehicle Market Revenues & Volume By AWD for the Period 2021-2031
Historical Data and Forecast of Latvia Electric Utility Vehicle Market Revenues & Volume By Propulsion for the Period 2021-2031
Historical Data and Forecast of Latvia Electric Utility Vehicle Market Revenues & Volume By Pure Electric for the Period 2021-2031
Historical Data and Forecast of Latvia Electric Utility Vehicle Market Revenues & Volume By Hybrid Electric for the Period 2021-2031
Latvia Electric Utility Vehicle Import Export Trade Statistics
Market Opportunity Assessment By Battery Type
Market Opportunity Assessment By Drive Type
Market Opportunity Assessment By Propulsion
Latvia Electric Utility Vehicle Top Companies Market Share
Latvia Electric Utility Vehicle Competitive Benchmarking By Technical and Operational Parameters
Latvia Electric Utility Vehicle Company Profiles
Latvia Electric Utility Vehicle Key Strategic Recommendations

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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 Utility Vehicle Market Overview

3.1 Latvia Country Macro Economic Indicators

3.2 Latvia Electric Utility Vehicle Market Revenues & Volume, 2021 & 2031F

3.3 Latvia Electric Utility Vehicle Market - Industry Life Cycle

3.4 Latvia Electric Utility Vehicle Market - Porter's Five Forces

3.5 Latvia Electric Utility Vehicle Market Revenues & Volume Share, By Battery Type, 2021 & 2031F

3.6 Latvia Electric Utility Vehicle Market Revenues & Volume Share, By Drive Type, 2021 & 2031F

3.7 Latvia Electric Utility Vehicle Market Revenues & Volume Share, By Propulsion, 2021 & 2031F

4 Latvia Electric Utility Vehicle Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.2.1 Increasing government initiatives and incentives to promote electric vehicles

4.2.2 Growing environmental concerns and the need for sustainable transportation solutions

4.2.3 Rising fuel prices leading to a shift towards electric vehicles

4.3 Market Restraints

4.3.1 High initial cost of electric utility vehicles compared to traditional vehicles

4.3.2 Limited charging infrastructure in Latvia

4.3.3 Lack of awareness and education about the benefits of electric utility vehicles

5 Latvia Electric Utility Vehicle Market Trends

6 Latvia Electric Utility Vehicle Market Segmentations

6.1 Latvia Electric Utility Vehicle Market, By Battery Type

6.1.1 Overview and Analysis

6.1.2 Latvia Electric Utility Vehicle Market Revenues & Volume, By Lead Acid, 2021-2031F

6.1.3 Latvia Electric Utility Vehicle Market Revenues & Volume, By Lithium-Ion, 2021-2031F

6.2 Latvia Electric Utility Vehicle Market, By Drive Type

6.2.1 Overview and Analysis

6.2.2 Latvia Electric Utility Vehicle Market Revenues & Volume, By 2WD, 2021-2031F

6.2.3 Latvia Electric Utility Vehicle Market Revenues & Volume, By 4WD, 2021-2031F

6.2.4 Latvia Electric Utility Vehicle Market Revenues & Volume, By AWD, 2021-2031F

6.3 Latvia Electric Utility Vehicle Market, By Propulsion

6.3.1 Overview and Analysis

6.3.2 Latvia Electric Utility Vehicle Market Revenues & Volume, By Pure Electric, 2021-2031F

6.3.3 Latvia Electric Utility Vehicle Market Revenues & Volume, By Hybrid Electric, 2021-2031F

7 Latvia Electric Utility Vehicle Market Import-Export Trade Statistics

7.1 Latvia Electric Utility Vehicle Market Export to Major Countries

7.2 Latvia Electric Utility Vehicle Market Imports from Major Countries

8 Latvia Electric Utility Vehicle Market Key Performance Indicators

8.1 Average daily distance driven by electric utility vehicles

8.2 Number of public charging stations installed in Latvia

8.3 Percentage of government budget allocated to support the electric vehicle market in Latvia

9 Latvia Electric Utility Vehicle Market - Opportunity Assessment

9.1 Latvia Electric Utility Vehicle Market Opportunity Assessment, By Battery Type, 2021 & 2031F

9.2 Latvia Electric Utility Vehicle Market Opportunity Assessment, By Drive Type, 2021 & 2031F

9.3 Latvia Electric Utility Vehicle Market Opportunity Assessment, By Propulsion, 2021 & 2031F

10 Latvia Electric Utility Vehicle Market - Competitive Landscape

10.1 Latvia Electric Utility Vehicle Market Revenue Share, By Companies, 2024

10.2 Latvia Electric Utility Vehicle Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

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Export potential assessment - trade Analytics for 2030

Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.

By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.

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