| Product Code: ETC5192906 | 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 |
Latvia saw a significant rise in internal combustion engine imports in 2024, with top exporters being the USA, China, Norway, Switzerland, and Japan. The high Herfindahl-Hirschman Index (HHI) indicates a market dominated by a few large suppliers. The impressive Compound Annual Growth Rate (CAGR) of 11.28% from 2020 to 2024 highlights a thriving market. Moreover, the remarkable growth rate of 317.44% from 2023 to 2024 underscores the rapid expansion of internal combustion engine imports in Latvia.

Latvia's Internal Combustion Engine market is anticipated to experience a stable growth rate of 2.33% by 2027, reflecting trends observed in the largest economy 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 Internal Combustion Engine Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Internal Combustion Engine Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Internal Combustion Engine Market - Industry Life Cycle |
3.4 Latvia Internal Combustion Engine Market - Porter's Five Forces |
3.5 Latvia Internal Combustion Engine Market Revenues & Volume Share, By Fuel, 2021 & 2031F |
3.6 Latvia Internal Combustion Engine Market Revenues & Volume Share, By End-use, 2021 & 2031F |
4 Latvia Internal Combustion Engine Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Growing demand for vehicles in Latvia |
4.2.2 Expansion of industrial and construction sectors driving the need for machinery with internal combustion engines |
4.2.3 Technological advancements leading to more efficient and environmentally friendly internal combustion engines |
4.3 Market Restraints |
4.3.1 Increasing focus on environmental sustainability and shift towards electric vehicles |
4.3.2 Fluctuating fuel prices impacting the operating costs of internal combustion engine vehicles |
4.3.3 Stringent emission regulations affecting the adoption of internal combustion engines |
5 Latvia Internal Combustion Engine Market Trends |
6 Latvia Internal Combustion Engine Market Segmentations |
6.1 Latvia Internal Combustion Engine Market, By Fuel |
6.1.1 Overview and Analysis |
6.1.2 Latvia Internal Combustion Engine Market Revenues & Volume, By Petroleum, 2021-2031F |
6.1.3 Latvia Internal Combustion Engine Market Revenues & Volume, By Natural Gas, 2021-2031F |
6.2 Latvia Internal Combustion Engine Market, By End-use |
6.2.1 Overview and Analysis |
6.2.2 Latvia Internal Combustion Engine Market Revenues & Volume, By Automotive, 2021-2031F |
6.2.3 Latvia Internal Combustion Engine Market Revenues & Volume, By Marine, 2021-2031F |
6.2.4 Latvia Internal Combustion Engine Market Revenues & Volume, By Aircraft, 2021-2031F |
7 Latvia Internal Combustion Engine Market Import-Export Trade Statistics |
7.1 Latvia Internal Combustion Engine Market Export to Major Countries |
7.2 Latvia Internal Combustion Engine Market Imports from Major Countries |
8 Latvia Internal Combustion Engine Market Key Performance Indicators |
8.1 Average age of vehicles in Latvia |
8.2 Number of new construction projects in the industrial sector |
8.3 Adoption rate of new internal combustion engine technologies |
8.4 Government incentives for internal combustion engine vehicles |
8.5 Carbon emissions reduction targets in Latvia |
9 Latvia Internal Combustion Engine Market - Opportunity Assessment |
9.1 Latvia Internal Combustion Engine Market Opportunity Assessment, By Fuel, 2021 & 2031F |
9.2 Latvia Internal Combustion Engine Market Opportunity Assessment, By End-use, 2021 & 2031F |
10 Latvia Internal Combustion Engine Market - Competitive Landscape |
10.1 Latvia Internal Combustion Engine Market Revenue Share, By Companies, 2024 |
10.2 Latvia Internal Combustion Engine Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |