| Product Code: ETC11848693 | Publication Date: Apr 2025 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 65 | No. of Figures: 34 | No. of Tables: 19 | |
The electric vehicle traction motor import shipments to Latvia saw significant growth in 2024, with China, Italy, Germany, USA, and Lithuania being the top exporting countries. The market concentration, as measured by the HHI, shifted from low to moderate concentration, indicating a more balanced market landscape. The compound annual growth rate (CAGR) from 2020 to 2024 stood at a healthy 5.71%, with a notable growth rate of 16.67% from 2023 to 2024. This suggests a growing demand for electric vehicle traction motors in Latvia and highlights the increasing importance of sustainable transportation solutions in the country.

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 EV Traction Motor Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Electric Vehicle EV Traction Motor Market - Industry Life Cycle |
3.4 Latvia Electric Vehicle EV Traction Motor Market - Porter's Five Forces |
3.5 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume Share, By Motor Type, 2021 & 2031F |
3.6 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume Share, By Features, 2021 & 2031F |
3.7 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.8 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume Share, By End User, 2021 & 2031F |
3.9 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume Share, By Power Output, 2021 & 2031F |
4 Latvia Electric Vehicle EV Traction Motor Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Growing environmental concerns and government initiatives promoting electric vehicles in Latvia |
4.2.2 Increasing investments in infrastructure for electric vehicle charging stations |
4.2.3 Rising consumer awareness and preference for sustainable transportation options |
4.3 Market Restraints |
4.3.1 High initial costs associated with electric vehicles and traction motors |
4.3.2 Limited availability of charging infrastructure across Latvia |
4.3.3 Lack of standardized regulations and policies supporting the electric vehicle market in Latvia |
5 Latvia Electric Vehicle EV Traction Motor Market Trends |
6 Latvia Electric Vehicle EV Traction Motor Market, By Types |
6.1 Latvia Electric Vehicle EV Traction Motor Market, By Motor Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Motor Type, 2021 - 2031F |
6.1.3 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Permanent Magnet Synchronous Motor (PMSM), 2021 - 2031F |
6.1.4 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Induction Motor, 2021 - 2031F |
6.1.5 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Switched Reluctance Motor (SRM), 2021 - 2031F |
6.1.6 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Axial Flux Motor, 2021 - 2031F |
6.2 Latvia Electric Vehicle EV Traction Motor Market, By Features |
6.2.1 Overview and Analysis |
6.2.2 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By High Efficiency, 2021 - 2031F |
6.2.3 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Low Maintenance, 2021 - 2031F |
6.2.4 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Cost-Effective, 2021 - 2031F |
6.2.5 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Compact & Lightweight, 2021 - 2031F |
6.3 Latvia Electric Vehicle EV Traction Motor Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Passenger EVs, 2021 - 2031F |
6.3.3 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Commercial EVs, 2021 - 2031F |
6.3.4 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Heavy-Duty EVs, 2021 - 2031F |
6.3.5 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By High-Performance Vehicles, 2021 - 2031F |
6.4 Latvia Electric Vehicle EV Traction Motor Market, By End User |
6.4.1 Overview and Analysis |
6.4.2 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By EV Manufacturers, 2021 - 2031F |
6.4.3 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Fleet Operators, 2021 - 2031F |
6.4.4 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Construction & Industrial, 2021 - 2031F |
6.4.5 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By Sports Cars, 2021 - 2031F |
6.5 Latvia Electric Vehicle EV Traction Motor Market, By Power Output |
6.5.1 Overview and Analysis |
6.5.2 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By 50-200 kW, 2021 - 2031F |
6.5.3 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By 100-300 kW, 2021 - 2031F |
6.5.4 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By 150-400 kW, 2021 - 2031F |
6.5.5 Latvia Electric Vehicle EV Traction Motor Market Revenues & Volume, By 200-600 kW, 2021 - 2031F |
7 Latvia Electric Vehicle EV Traction Motor Market Import-Export Trade Statistics |
7.1 Latvia Electric Vehicle EV Traction Motor Market Export to Major Countries |
7.2 Latvia Electric Vehicle EV Traction Motor Market Imports from Major Countries |
8 Latvia Electric Vehicle EV Traction Motor Market Key Performance Indicators |
8.1 Number of new electric vehicle registrations in Latvia |
8.2 Expansion of electric vehicle charging network coverage in key cities |
8.3 Percentage increase in government incentives and subsidies for electric vehicle adoption |
8.4 Average price reduction of electric vehicle traction motors due to technological advancements |
8.5 Growth in electric vehicle market share compared to traditional combustion engine vehicles |
9 Latvia Electric Vehicle EV Traction Motor Market - Opportunity Assessment |
9.1 Latvia Electric Vehicle EV Traction Motor Market Opportunity Assessment, By Motor Type, 2021 & 2031F |
9.2 Latvia Electric Vehicle EV Traction Motor Market Opportunity Assessment, By Features, 2021 & 2031F |
9.3 Latvia Electric Vehicle EV Traction Motor Market Opportunity Assessment, By Application, 2021 & 2031F |
9.4 Latvia Electric Vehicle EV Traction Motor Market Opportunity Assessment, By End User, 2021 & 2031F |
9.5 Latvia Electric Vehicle EV Traction Motor Market Opportunity Assessment, By Power Output, 2021 & 2031F |
10 Latvia Electric Vehicle EV Traction Motor Market - Competitive Landscape |
10.1 Latvia Electric Vehicle EV Traction Motor Market Revenue Share, By Companies, 2024 |
10.2 Latvia Electric Vehicle EV Traction Motor Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |