Latvia Heat Pump Market (2025-2031) | Revenue, Size, Analysis, Trends, Growth, Value, Industry, Segmentation, Forecast, Outlook, Share & Companies
Market Forecast By Type (Air-to-Air, Air-to-Water, Water Source, Geothermal, Hybrid), By Refrigerant (R410A, R407C, R744), By Rated Capacity (Up to 10 kW, 10-20 kW, 20-30 kW, >30 kW), By End User (Residential, Commercial, Industrial) And Competitive Landscape
| Product Code: ETC5772634 | 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 Heat Pump Market Top 5 Importing Countries and Market Competition (HHI) Analysis
In 2024, Latvia saw significant heat pump import shipments from top exporting countries including Metropolitan France, Sweden, Lithuania, China, and Czechia. Despite the diverse range of sources, the market remained relatively unconcentrated with a low Herfindahl-Hirschman Index (HHI). The compound annual growth rate (CAGR) from 2020 to 2024 stood at a steady 3.36%, indicating a consistent upward trend in demand. However, there was a slight decline in growth rate from 2023 to 2024 at -14.09%, suggesting a potential shift in market dynamics or external factors impacting the industry.
Heat Pump Market: Latvia vs Top 5 Major Economies in 2027 (Europe)
The Heat Pump market in Latvia is projected to grow at a stable growth rate of 3.96% by 2027, within the Europe region led by Germany, along with other countries like United Kingdom, France, Italy and Russia, collectively shaping a dynamic and evolving market environment driven by innovation and increasing adoption of emerging technologies.
Key Highlights of the Report:
- Latvia Heat Pump Market Outlook
- Market Size of Latvia Heat Pump Market, 2024
- Forecast of Latvia Heat Pump Market, 2031
- Historical Data and Forecast of Latvia Heat Pump Revenues & Volume for the Period 2021-2031
- Latvia Heat Pump Market Trend Evolution
- Latvia Heat Pump Market Drivers and Challenges
- Latvia Heat Pump Price Trends
- Latvia Heat Pump Porter`s Five Forces
- Latvia Heat Pump Industry Life Cycle
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Type for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Air-to-Air for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Air-to-Water for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Water Source for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Geothermal for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Hybrid for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Refrigerant for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By R410A for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By R407C for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By R744 for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Rated Capacity for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Up to 10 kW for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By 10-20 kW for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By 20-30 kW for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By >30 kW for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By End User for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Residential for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Commercial for the Period 2021-2031
- Historical Data and Forecast of Latvia Heat Pump Market Revenues & Volume By Industrial for the Period 2021-2031
- Latvia Heat Pump Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Refrigerant
- Market Opportunity Assessment By Rated Capacity
- Market Opportunity Assessment By End User
- Latvia Heat Pump Top Companies Market Share
- Latvia Heat Pump Competitive Benchmarking By Technical and Operational Parameters
- Latvia Heat Pump Company Profiles
- Latvia Heat Pump Key Strategic Recommendations
Frequently Asked Questions About the Market Study (FAQs):
6Wresearch actively monitors the Latvia Heat Pump 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 Heat Pump Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
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 Heat Pump Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Heat Pump Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Heat Pump Market - Industry Life Cycle |
3.4 Latvia Heat Pump Market - Porter's Five Forces |
3.5 Latvia Heat Pump Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Latvia Heat Pump Market Revenues & Volume Share, By Refrigerant, 2021 & 2031F |
3.7 Latvia Heat Pump Market Revenues & Volume Share, By Rated Capacity, 2021 & 2031F |
3.8 Latvia Heat Pump Market Revenues & Volume Share, By End User, 2021 & 2031F |
4 Latvia Heat Pump Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Growing demand for energy-efficient heating solutions |
4.2.2 Government initiatives promoting the use of renewable energy sources |
4.2.3 Increasing awareness about environmental sustainability and carbon footprint reduction |
4.3 Market Restraints |
4.3.1 High initial investment costs associated with heat pump installation |
4.3.2 Limited consumer awareness and understanding of heat pump technology |
4.3.3 Lack of skilled professionals for installation and maintenance of heat pumps |
5 Latvia Heat Pump Market Trends |
6 Latvia Heat Pump Market Segmentations |
6.1 Latvia Heat Pump Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Heat Pump Market Revenues & Volume, By Air-to-Air, 2021-2031F |
6.1.3 Latvia Heat Pump Market Revenues & Volume, By Air-to-Water, 2021-2031F |
6.1.4 Latvia Heat Pump Market Revenues & Volume, By Water Source, 2021-2031F |
6.1.5 Latvia Heat Pump Market Revenues & Volume, By Geothermal, 2021-2031F |
6.1.6 Latvia Heat Pump Market Revenues & Volume, By Hybrid, 2021-2031F |
6.2 Latvia Heat Pump Market, By Refrigerant |
6.2.1 Overview and Analysis |
6.2.2 Latvia Heat Pump Market Revenues & Volume, By R410A, 2021-2031F |
6.2.3 Latvia Heat Pump Market Revenues & Volume, By R407C, 2021-2031F |
6.2.4 Latvia Heat Pump Market Revenues & Volume, By R744, 2021-2031F |
6.3 Latvia Heat Pump Market, By Rated Capacity |
6.3.1 Overview and Analysis |
6.3.2 Latvia Heat Pump Market Revenues & Volume, By Up to 10 kW, 2021-2031F |
6.3.3 Latvia Heat Pump Market Revenues & Volume, By 10-20 kW, 2021-2031F |
6.3.4 Latvia Heat Pump Market Revenues & Volume, By 20-30 kW, 2021-2031F |
6.3.5 Latvia Heat Pump Market Revenues & Volume, By >30 kW, 2021-2031F |
6.4 Latvia Heat Pump Market, By End User |
6.4.1 Overview and Analysis |
6.4.2 Latvia Heat Pump Market Revenues & Volume, By Residential, 2021-2031F |
6.4.3 Latvia Heat Pump Market Revenues & Volume, By Commercial, 2021-2031F |
6.4.4 Latvia Heat Pump Market Revenues & Volume, By Industrial, 2021-2031F |
7 Latvia Heat Pump Market Import-Export Trade Statistics |
7.1 Latvia Heat Pump Market Export to Major Countries |
7.2 Latvia Heat Pump Market Imports from Major Countries |
8 Latvia Heat Pump Market Key Performance Indicators |
8.1 Average annual energy savings achieved by using heat pumps |
8.2 Number of government incentives and subsidies supporting heat pump adoption |
8.3 Percentage of households in Latvia using heat pumps as a primary heating source |
8.4 Growth in the number of certified heat pump installers and service providers |
9 Latvia Heat Pump Market - Opportunity Assessment |
9.1 Latvia Heat Pump Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Latvia Heat Pump Market Opportunity Assessment, By Refrigerant, 2021 & 2031F |
9.3 Latvia Heat Pump Market Opportunity Assessment, By Rated Capacity, 2021 & 2031F |
9.4 Latvia Heat Pump Market Opportunity Assessment, By End User, 2021 & 2031F |
10 Latvia Heat Pump Market - Competitive Landscape |
10.1 Latvia Heat Pump Market Revenue Share, By Companies, 2024 |
10.2 Latvia Heat Pump Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |
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