| Product Code: ETC12579637 | Publication Date: Apr 2025 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Sachin Kumar Rai | No. of Pages: 65 | No. of Figures: 34 | No. of Tables: 19 |
The low speed electric vehicle import market in Latvia saw significant growth in 2024, with top exporters being Estonia, Germany, Netherlands, Lithuania, and Czechia. The high Herfindahl-Hirschman Index (HHI) indicates a concentrated market. The impressive compound annual growth rate (CAGR) of 66.84% from 2020 to 2024 demonstrates a rapidly expanding industry. Additionally, the remarkable growth rate of 96.0% from 2023 to 2024 highlights the increasing demand for low speed electric vehicles in Latvia. This data suggests a promising outlook for the market 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 Low Speed Electric Vehicle Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Low Speed Electric Vehicle Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Low Speed Electric Vehicle Market - Industry Life Cycle |
3.4 Latvia Low Speed Electric Vehicle Market - Porter's Five Forces |
3.5 Latvia Low Speed Electric Vehicle Market Revenues & Volume Share, By Vehicle Type, 2021 & 2031F |
3.6 Latvia Low Speed Electric Vehicle Market Revenues & Volume Share, By End user, 2021 & 2031F |
4 Latvia Low Speed Electric Vehicle Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing environmental concerns and government initiatives promoting sustainable transportation |
4.2.2 Rising fuel costs driving demand for more cost-effective transportation alternatives |
4.2.3 Growing urbanization and congestion issues leading to the adoption of low speed electric vehicles |
4.3 Market Restraints |
4.3.1 Limited charging infrastructure hindering the widespread adoption of low speed electric vehicles |
4.3.2 Perception of low speed electric vehicles as less powerful or less reliable compared to traditional vehicles |
4.3.3 Initial higher purchase cost acting as a barrier for potential buyers |
5 Latvia Low Speed Electric Vehicle Market Trends |
6 Latvia Low Speed Electric Vehicle Market, By Types |
6.1 Latvia Low Speed Electric Vehicle Market, By Vehicle Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Low Speed Electric Vehicle Market Revenues & Volume, By Vehicle Type, 2021 - 2031F |
6.1.3 Latvia Low Speed Electric Vehicle Market Revenues & Volume, By Passenger Vehicles, 2021 - 2031F |
6.1.4 Latvia Low Speed Electric Vehicle Market Revenues & Volume, By Heavy Duty Vehicles, 2021 - 2031F |
6.1.5 Latvia Low Speed Electric Vehicle Market Revenues & Volume, By Utility Vehicles, 2021 - 2031F |
6.1.6 Latvia Low Speed Electric Vehicle Market Revenues & Volume, By Off-Road Vehicles, 2021 - 2031F |
6.2 Latvia Low Speed Electric Vehicle Market, By End user |
6.2.1 Overview and Analysis |
6.2.2 Latvia Low Speed Electric Vehicle Market Revenues & Volume, By Airports, 2021 - 2031F |
6.2.3 Latvia Low Speed Electric Vehicle Market Revenues & Volume, By Residential and Commercial Premises, 2021 - 2031F |
6.2.4 Latvia Low Speed Electric Vehicle Market Revenues & Volume, By Golf Courses, 2021 - 2031F |
6.2.5 Latvia Low Speed Electric Vehicle Market Revenues & Volume, By Tourist Destinations, 2021 - 2031F |
6.2.6 Latvia Low Speed Electric Vehicle Market Revenues & Volume, By Hotels and Resorts, 2021 - 2031F |
7 Latvia Low Speed Electric Vehicle Market Import-Export Trade Statistics |
7.1 Latvia Low Speed Electric Vehicle Market Export to Major Countries |
7.2 Latvia Low Speed Electric Vehicle Market Imports from Major Countries |
8 Latvia Low Speed Electric Vehicle Market Key Performance Indicators |
8.1 Average daily utilization rate of charging stations for low speed electric vehicles |
8.2 Number of government incentives or subsidies introduced to promote low speed electric vehicles |
8.3 Growth in the number of registered low speed electric vehicles in urban areas |
9 Latvia Low Speed Electric Vehicle Market - Opportunity Assessment |
9.1 Latvia Low Speed Electric Vehicle Market Opportunity Assessment, By Vehicle Type, 2021 & 2031F |
9.2 Latvia Low Speed Electric Vehicle Market Opportunity Assessment, By End user, 2021 & 2031F |
10 Latvia Low Speed Electric Vehicle Market - Competitive Landscape |
10.1 Latvia Low Speed Electric Vehicle Market Revenue Share, By Companies, 2024 |
10.2 Latvia Low Speed Electric Vehicle Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |