| Product Code: ETC5044079 | 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 |
In 2024, Latvia continued to rely heavily on fuel oil imports, with Lithuania, Estonia, Areas, nes, Germany, and Belarus emerging as the top exporting countries. The high Herfindahl-Hirschman Index (HHI) indicated a concentrated market for fuel oil imports in Latvia. The compound annual growth rate (CAGR) from 2020 to 2024 stood at a robust 10.93%, showcasing steady growth in this sector. Additionally, the growth rate from 2023 to 2024 was recorded at 6.26%, underscoring the continued importance of fuel oil imports for Latvia`s energy needs.

By 2027, the Fuel Oil market in Latvia is anticipated to reach a growth rate of 1.61%, as part of an increasingly competitive Europe region, where Germany remains at the forefront, supported by United Kingdom, France, Italy and Russia, driving innovations and market adoption across sectors.

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 Fuel Oil Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Fuel Oil Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Fuel Oil Market - Industry Life Cycle |
3.4 Latvia Fuel Oil Market - Porter's Five Forces |
3.5 Latvia Fuel Oil Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Latvia Fuel Oil Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing industrial activities in Latvia leading to higher demand for fuel oil |
4.2.2 Growth in the maritime industry driving demand for marine fuel oil |
4.2.3 Government policies and regulations favoring the use of fuel oil for energy generation |
4.3 Market Restraints |
4.3.1 Fluctuating global oil prices impacting the cost of fuel oil in Latvia |
4.3.2 Environmental concerns and regulations pushing for cleaner energy sources over fuel oil |
4.3.3 Competition from alternative energy sources such as natural gas and renewables |
5 Latvia Fuel Oil Market Trends |
6 Latvia Fuel Oil Market Segmentations |
6.1 Latvia Fuel Oil Market, By Application |
6.1.1 Overview and Analysis |
6.1.2 Latvia Fuel Oil Market Revenues & Volume, By Marine, 2021-2031F |
6.1.3 Latvia Fuel Oil Market Revenues & Volume, By Industrial, 2021-2031F |
6.1.4 Latvia Fuel Oil Market Revenues & Volume, By Others, 2021-2031F |
7 Latvia Fuel Oil Market Import-Export Trade Statistics |
7.1 Latvia Fuel Oil Market Export to Major Countries |
7.2 Latvia Fuel Oil Market Imports from Major Countries |
8 Latvia Fuel Oil Market Key Performance Indicators |
8.1 Average price of fuel oil in Latvia |
8.2 Number of new industrial projects using fuel oil for energy generation |
8.3 Quantity of fuel oil consumed by the maritime industry in Latvia |
9 Latvia Fuel Oil Market - Opportunity Assessment |
9.1 Latvia Fuel Oil Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Latvia Fuel Oil Market - Competitive Landscape |
10.1 Latvia Fuel Oil Market Revenue Share, By Companies, 2024 |
10.2 Latvia Fuel Oil Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |