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

Market Forecast By Vehicle Type (Passenger Car, Commercial Vehicle, Two-Wheeler), By Propulsion Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle), By Battery Type (Lead Acid Battery, Nickel Metal Hydride Battery, Lithium ion Battery) And Competitive Landscape
Product Code: ETC4832609 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 Electric Vehicle Battery Market Top 5 Importing Countries and Market Competition (HHI) Analysis

In 2024, Latvia saw a significant increase in electric vehicle battery import shipments, with top exporting countries including Czechia, Poland, Germany, Lithuania, and Finland. The Herfindahl-Hirschman Index (HHI) indicated moderate concentration levels, suggesting a competitive market landscape. The impressive Compound Annual Growth Rate (CAGR) of 16.14% from 2020 to 2024 highlights the growing demand for electric vehicle batteries in Latvia. Moreover, the notable growth rate of 26.41% from 2023 to 2024 signifies a surge in import activity, potentially driven by the country`s efforts to embrace sustainable transportation solutions.

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

Electric Vehicle Battery Market: Latvia vs Top 5 Major Economies in 2027 (Europe)


In the Europe region, the Electric Vehicle Battery market in Latvia is projected to expand at a high growth rate of 10.86% by 2027. The largest economy is Germany, followed by United Kingdom, France, Italy and Russia.

Electric Vehicle Battery Market: Latvia vs Top 5 Major Economies in 2027 (Europe)

Key Highlights of the Report:

  • Latvia Electric Vehicle Battery Market Outlook
  • Market Size of Latvia Electric Vehicle Battery Market, 2024
  • Forecast of Latvia Electric Vehicle Battery Market, 2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Revenues & Volume for the Period 2021-2031
  • Latvia Electric Vehicle Battery Market Trend Evolution
  • Latvia Electric Vehicle Battery Market Drivers and Challenges
  • Latvia Electric Vehicle Battery Price Trends
  • Latvia Electric Vehicle Battery Porter`s Five Forces
  • Latvia Electric Vehicle Battery Industry Life Cycle
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Vehicle Type for the Period 2021-2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Passenger Car for the Period 2021-2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Commercial Vehicle for the Period 2021-2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Two-Wheeler for the Period 2021-2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Propulsion Type for the Period 2021-2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Battery Electric Vehicle for the Period 2021-2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Hybrid Electric Vehicle for the Period 2021-2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Plug-in Hybrid Electric Vehicle for the Period 2021-2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Battery Type for the Period 2021-2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Lead Acid Battery for the Period 2021-2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Nickel Metal Hydride Battery for the Period 2021-2031
  • Historical Data and Forecast of Latvia Electric Vehicle Battery Market Revenues & Volume By Lithium ion Battery for the Period 2021-2031
  • Latvia Electric Vehicle Battery Import Export Trade Statistics
  • Market Opportunity Assessment By Vehicle Type
  • Market Opportunity Assessment By Propulsion Type
  • Market Opportunity Assessment By Battery Type
  • Latvia Electric Vehicle Battery Top Companies Market Share
  • Latvia Electric Vehicle Battery Competitive Benchmarking By Technical and Operational Parameters
  • Latvia Electric Vehicle Battery Company Profiles
  • Latvia Electric Vehicle Battery Key Strategic Recommendations

Frequently Asked Questions About the Market Study (FAQs):

6Wresearch actively monitors the Latvia Electric Vehicle Battery 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 Electric Vehicle Battery Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
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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 Vehicle Battery Market Overview

3.1 Latvia Country Macro Economic Indicators

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

3.3 Latvia Electric Vehicle Battery Market - Industry Life Cycle

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

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

3.6 Latvia Electric Vehicle Battery Market Revenues & Volume Share, By Propulsion Type, 2021 & 2031F

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

4 Latvia Electric Vehicle Battery Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.2.1 Increasing government initiatives and subsidies to promote electric vehicles.

4.2.2 Growing public awareness and concern for environmental sustainability.

4.2.3 Advancements in battery technology leading to better performance and longer lifespan of electric vehicle batteries.

4.3 Market Restraints

4.3.1 High initial cost of electric vehicles and batteries.

4.3.2 Limited availability of charging infrastructure.

4.3.3 Concerns about the range and charging time of electric vehicles.

5 Latvia Electric Vehicle Battery Market Trends

6 Latvia Electric Vehicle Battery Market Segmentations

6.1 Latvia Electric Vehicle Battery Market, By Vehicle Type

6.1.1 Overview and Analysis

6.1.2 Latvia Electric Vehicle Battery Market Revenues & Volume, By Passenger Car, 2021-2031F

6.1.3 Latvia Electric Vehicle Battery Market Revenues & Volume, By Commercial Vehicle, 2021-2031F

6.1.4 Latvia Electric Vehicle Battery Market Revenues & Volume, By Two-Wheeler, 2021-2031F

6.2 Latvia Electric Vehicle Battery Market, By Propulsion Type

6.2.1 Overview and Analysis

6.2.2 Latvia Electric Vehicle Battery Market Revenues & Volume, By Battery Electric Vehicle, 2021-2031F

6.2.3 Latvia Electric Vehicle Battery Market Revenues & Volume, By Hybrid Electric Vehicle, 2021-2031F

6.2.4 Latvia Electric Vehicle Battery Market Revenues & Volume, By Plug-in Hybrid Electric Vehicle, 2021-2031F

6.3 Latvia Electric Vehicle Battery Market, By Battery Type

6.3.1 Overview and Analysis

6.3.2 Latvia Electric Vehicle Battery Market Revenues & Volume, By Lead Acid Battery, 2021-2031F

6.3.3 Latvia Electric Vehicle Battery Market Revenues & Volume, By Nickel Metal Hydride Battery, 2021-2031F

6.3.4 Latvia Electric Vehicle Battery Market Revenues & Volume, By Lithium ion Battery, 2021-2031F

7 Latvia Electric Vehicle Battery Market Import-Export Trade Statistics

7.1 Latvia Electric Vehicle Battery Market Export to Major Countries

7.2 Latvia Electric Vehicle Battery Market Imports from Major Countries

8 Latvia Electric Vehicle Battery Market Key Performance Indicators

8.1 Average battery lifespan of electric vehicles in Latvia.

8.2 Number of public charging stations for electric vehicles in Latvia.

8.3 Percentage of electric vehicles in total vehicle registrations in Latvia.

8.4 Adoption rate of new battery technologies in the electric vehicle market in Latvia.

9 Latvia Electric Vehicle Battery Market - Opportunity Assessment

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

9.2 Latvia Electric Vehicle Battery Market Opportunity Assessment, By Propulsion Type, 2021 & 2031F

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

10 Latvia Electric Vehicle Battery Market - Competitive Landscape

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

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

11 Company Profiles

12 Recommendations

13 Disclaimer

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