| Product Code: ETC4950979 | 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 diversify its sources of heating equipment imports, with China, Lithuania, Poland, Italy, and Finland emerging as key exporting countries. The low Herfindahl-Hirschman Index (HHI) indicates a fragmented market with healthy competition. Despite a slight decline in growth rate from 2023 to 2024, the compound annual growth rate (CAGR) for the period 2020-2024 remained strong at 8.06%. This data suggests a stable and growing market for heating equipment in Latvia, driven by a variety of international suppliers.

In the Europe region, the Heating Equipment market in Latvia is projected to expand at a stable growth rate of 0.43% by 2027. The largest economy is Germany, followed by United Kingdom, France, Italy and Russia.

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 Heating Equipment Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Heating Equipment Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Heating Equipment Market - Industry Life Cycle |
3.4 Latvia Heating Equipment Market - Porter's Five Forces |
3.5 Latvia Heating Equipment Market Revenues & Volume Share, By Product, 2021 & 2031F |
3.6 Latvia Heating Equipment Market Revenues & Volume Share, By Applications, 2021 & 2031F |
4 Latvia Heating Equipment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for energy-efficient heating solutions in Latvia |
4.2.2 Government initiatives promoting the adoption of renewable energy sources for heating |
4.2.3 Growing construction activities in residential and commercial sectors in Latvia |
4.3 Market Restraints |
4.3.1 High initial investment required for installing modern heating equipment |
4.3.2 Fluctuating raw material prices impacting the manufacturing cost of heating equipment |
4.3.3 Seasonal variations in heating demand affecting sales throughout the year |
5 Latvia Heating Equipment Market Trends |
6 Latvia Heating Equipment Market Segmentations |
6.1 Latvia Heating Equipment Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 Latvia Heating Equipment Market Revenues & Volume, By Heat Pumps, 2021-2031F |
6.1.3 Latvia Heating Equipment Market Revenues & Volume, By Furnaces, 2021-2031F |
6.1.4 Latvia Heating Equipment Market Revenues & Volume, By Boilers, 2021-2031F |
6.1.5 Latvia Heating Equipment Market Revenues & Volume, By Unitary Heaters, 2021-2031F |
6.1.6 Latvia Heating Equipment Market Revenues & Volume, By Others, 2021-2031F |
6.2 Latvia Heating Equipment Market, By Applications |
6.2.1 Overview and Analysis |
6.2.2 Latvia Heating Equipment Market Revenues & Volume, By Residential, 2021-2031F |
6.2.3 Latvia Heating Equipment Market Revenues & Volume, By Commercial, 2021-2031F |
6.2.4 Latvia Heating Equipment Market Revenues & Volume, By Industrial, 2021-2031F |
7 Latvia Heating Equipment Market Import-Export Trade Statistics |
7.1 Latvia Heating Equipment Market Export to Major Countries |
7.2 Latvia Heating Equipment Market Imports from Major Countries |
8 Latvia Heating Equipment Market Key Performance Indicators |
8.1 Energy efficiency rating of heating equipment |
8.2 Adoption rate of renewable energy heating solutions in Latvia |
8.3 Number of new construction permits issued in the residential and commercial sectors |
8.4 Average age of heating equipment in use across Latvia |
8.5 Percentage of households opting for smart heating solutions |
9 Latvia Heating Equipment Market - Opportunity Assessment |
9.1 Latvia Heating Equipment Market Opportunity Assessment, By Product, 2021 & 2031F |
9.2 Latvia Heating Equipment Market Opportunity Assessment, By Applications, 2021 & 2031F |
10 Latvia Heating Equipment Market - Competitive Landscape |
10.1 Latvia Heating Equipment Market Revenue Share, By Companies, 2024 |
10.2 Latvia Heating Equipment Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |