| Product Code: ETC5875842 | 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 |
In 2024, Latvia saw a significant increase in electric vehicle import shipments, with top exporting countries being Estonia, Germany, Netherlands, Sweden, and Austria. The market remains highly concentrated, as indicated by the high Herfindahl-Hirschman Index (HHI). The compound annual growth rate (CAGR) from 2020 to 2024 is an impressive 89.5%, showcasing the rapid expansion of the electric vehicle market in Latvia. Additionally, the growth rate from 2023 to 2024 is a notable 46.66%, indicating sustained momentum in the importation of electric vehicles into 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 Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Electric Vehicle Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Electric Vehicle Market - Industry Life Cycle |
3.4 Latvia Electric Vehicle Market - Porter's Five Forces |
3.5 Latvia Electric Vehicle Market Revenues & Volume Share, By Propulsion, 2021 & 2031F |
3.6 Latvia Electric Vehicle Market Revenues & Volume Share, By Vehicle Drive Type, 2021 & 2031F |
3.7 Latvia Electric Vehicle Market Revenues & Volume Share, By Vehicle Top Speed, 2021 & 2031F |
4 Latvia Electric Vehicle Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Government incentives and subsidies for electric vehicles |
4.2.2 Growing environmental awareness and concerns about air pollution |
4.2.3 Advancements in electric vehicle technology and infrastructure development |
4.3 Market Restraints |
4.3.1 High initial cost and limited availability of charging infrastructure |
4.3.2 Range anxiety among consumers due to limited driving range of electric vehicles |
4.3.3 Lack of variety and options in electric vehicle models compared to traditional vehicles |
5 Latvia Electric Vehicle Market Trends |
6 Latvia Electric Vehicle Market Segmentations |
6.1 Latvia Electric Vehicle Market, By Propulsion |
6.1.1 Overview and Analysis |
6.1.2 Latvia Electric Vehicle Market Revenues & Volume, By BEV, 2021-2031F |
6.1.3 Latvia Electric Vehicle Market Revenues & Volume, By PHEV, 2021-2031F |
6.1.4 Latvia Electric Vehicle Market Revenues & Volume, By FCEV, 2021-2031F |
6.2 Latvia Electric Vehicle Market, By Vehicle Drive Type |
6.2.1 Overview and Analysis |
6.2.2 Latvia Electric Vehicle Market Revenues & Volume, By FWD, 2021-2031F |
6.2.3 Latvia Electric Vehicle Market Revenues & Volume, By RWD, 2021-2031F |
6.2.4 Latvia Electric Vehicle Market Revenues & Volume, By AWD, 2021-2031F |
6.3 Latvia Electric Vehicle Market, By Vehicle Top Speed |
6.3.1 Overview and Analysis |
6.3.2 Latvia Electric Vehicle Market Revenues & Volume, By <125 mph, 2021-2031F |
6.3.3 Latvia Electric Vehicle Market Revenues & Volume, By >125 mph, 2021-2031F |
7 Latvia Electric Vehicle Market Import-Export Trade Statistics |
7.1 Latvia Electric Vehicle Market Export to Major Countries |
7.2 Latvia Electric Vehicle Market Imports from Major Countries |
8 Latvia Electric Vehicle Market Key Performance Indicators |
8.1 Number of public charging stations installed |
8.2 Percentage of renewable energy sources used for charging electric vehicles |
8.3 Average driving range of electric vehicles available in the market |
9 Latvia Electric Vehicle Market - Opportunity Assessment |
9.1 Latvia Electric Vehicle Market Opportunity Assessment, By Propulsion, 2021 & 2031F |
9.2 Latvia Electric Vehicle Market Opportunity Assessment, By Vehicle Drive Type, 2021 & 2031F |
9.3 Latvia Electric Vehicle Market Opportunity Assessment, By Vehicle Top Speed, 2021 & 2031F |
10 Latvia Electric Vehicle Market - Competitive Landscape |
10.1 Latvia Electric Vehicle Market Revenue Share, By Companies, 2024 |
10.2 Latvia Electric Vehicle Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |