| Product Code: ETC5872916 | Publication Date: Nov 2023 | Updated Date: Oct 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 | |
In 2024, Latvia`s light duty vehicle import shipments continued to show strong growth with a high Herfindahl-Hirschman Index (HHI) indicating concentration among top exporting countries. Germany, Estonia, Poland, Finland, and Belgium emerged as the key contributors to Latvia`s import market. Despite a slight decline in growth rate from 2023 to 2024, the compound annual growth rate (CAGR) for 2020-2024 stands at an impressive 14.9%. This data suggests a stable and thriving market for light duty vehicle imports in Latvia, with potential opportunities for further expansion and diversification in the coming years.
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 Light Duty Vehicle Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Light Duty Vehicle Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Light Duty Vehicle Market - Industry Life Cycle |
3.4 Latvia Light Duty Vehicle Market - Porter's Five Forces |
3.5 Latvia Light Duty Vehicle Market Revenues & Volume Share, By Transmission Type, 2021 & 2031F |
3.6 Latvia Light Duty Vehicle Market Revenues & Volume Share, By Turbocharger, 2021 & 2031F |
4 Latvia Light Duty Vehicle Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing disposable income of consumers in Latvia |
4.2.2 Government initiatives promoting the use of environmentally friendly vehicles |
4.2.3 Growing urbanization leading to higher demand for personal transportation |
4.3 Market Restraints |
4.3.1 High import tariffs on vehicles impacting affordability |
4.3.2 Economic uncertainty affecting consumer purchasing power |
4.3.3 Lack of charging infrastructure for electric vehicles hindering adoption |
5 Latvia Light Duty Vehicle Market Trends |
6 Latvia Light Duty Vehicle Market Segmentations |
6.1 Latvia Light Duty Vehicle Market, By Transmission Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Light Duty Vehicle Market Revenues & Volume, By Automatic transmission (AT), 2021-2031F |
6.1.3 Latvia Light Duty Vehicle Market Revenues & Volume, By Continuous variable transmission (CVT), 2021-2031F |
6.1.4 Latvia Light Duty Vehicle Market Revenues & Volume, By Manual transmission (MT), 2021-2031F |
6.2 Latvia Light Duty Vehicle Market, By Turbocharger |
6.2.1 Overview and Analysis |
6.2.2 Latvia Light Duty Vehicle Market Revenues & Volume, By Gasoline Turbocharged, 2021-2031F |
6.2.3 Latvia Light Duty Vehicle Market Revenues & Volume, By Diesel Turbocharged, 2021-2031F |
7 Latvia Light Duty Vehicle Market Import-Export Trade Statistics |
7.1 Latvia Light Duty Vehicle Market Export to Major Countries |
7.2 Latvia Light Duty Vehicle Market Imports from Major Countries |
8 Latvia Light Duty Vehicle Market Key Performance Indicators |
8.1 Average age of vehicles on the road |
8.2 Number of vehicle registrations per year |
8.3 Adoption rate of electric vehicles in the market |
9 Latvia Light Duty Vehicle Market - Opportunity Assessment |
9.1 Latvia Light Duty Vehicle Market Opportunity Assessment, By Transmission Type, 2021 & 2031F |
9.2 Latvia Light Duty Vehicle Market Opportunity Assessment, By Turbocharger, 2021 & 2031F |
10 Latvia Light Duty Vehicle Market - Competitive Landscape |
10.1 Latvia Light Duty Vehicle Market Revenue Share, By Companies, 2024 |
10.2 Latvia Light Duty Vehicle Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |