| Product Code: ETC5850439 | 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 |
In 2024, Latvia saw consistent growth in marine battery imports with a CAGR of 1.55% from 2020-2024. Despite a slight decline in growth rate of -15.25% from 2023-2024, top exporting countries such as Finland, Lithuania, Sweden, Germany, and Netherlands continue to dominate the market. The low concentration of the Herfindahl-Hirschman Index (HHI) indicates a diverse range of suppliers, offering competitive pricing and product options for Latvia`s marine battery market. This trend suggests a stable and evolving landscape for marine battery imports in Latvia.

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 Marine Battery Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Marine Battery Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Marine Battery Market - Industry Life Cycle |
3.4 Latvia Marine Battery Market - Porter's Five Forces |
3.5 Latvia Marine Battery Market Revenues & Volume Share, By Ship Type, 2021 & 2031F |
3.6 Latvia Marine Battery Market Revenues & Volume Share, By Sales Channel, 2021 & 2031F |
4 Latvia Marine Battery Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for eco-friendly and sustainable energy solutions in the maritime industry |
4.2.2 Growth in the adoption of electric propulsion systems in ships |
4.2.3 Government initiatives and regulations promoting the use of clean energy sources in the marine sector |
4.3 Market Restraints |
4.3.1 High initial investment costs associated with marine battery systems |
4.3.2 Limited availability of charging infrastructure for marine batteries |
4.3.3 Technological limitations leading to issues such as limited range and charging times |
5 Latvia Marine Battery Market Trends |
6 Latvia Marine Battery Market Segmentations |
6.1 Latvia Marine Battery Market, By Ship Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Marine Battery Market Revenues & Volume, By Commercial, 2021-2031F |
6.1.3 Latvia Marine Battery Market Revenues & Volume, By Defense, 2021-2031F |
6.1.4 Latvia Marine Battery Market Revenues & Volume, By Unmanned, 2021-2031F |
6.2 Latvia Marine Battery Market, By Sales Channel |
6.2.1 Overview and Analysis |
6.2.2 Latvia Marine Battery Market Revenues & Volume, By OEM, 2021-2031F |
6.2.3 Latvia Marine Battery Market Revenues & Volume, By Aftermarket, 2021-2031F |
7 Latvia Marine Battery Market Import-Export Trade Statistics |
7.1 Latvia Marine Battery Market Export to Major Countries |
7.2 Latvia Marine Battery Market Imports from Major Countries |
8 Latvia Marine Battery Market Key Performance Indicators |
8.1 Average cost per kilowatt-hour (kWh) of marine batteries |
8.2 Number of new electric propulsion systems installed in ships annually in Latvia |
8.3 Percentage increase in government funding or incentives for clean energy solutions in the maritime sector |
8.4 Average lifespan of marine batteries in the market |
8.5 Ratio of electric-powered ships to traditional fuel-powered ships in Latvia's maritime industry |
9 Latvia Marine Battery Market - Opportunity Assessment |
9.1 Latvia Marine Battery Market Opportunity Assessment, By Ship Type, 2021 & 2031F |
9.2 Latvia Marine Battery Market Opportunity Assessment, By Sales Channel, 2021 & 2031F |
10 Latvia Marine Battery Market - Competitive Landscape |
10.1 Latvia Marine Battery Market Revenue Share, By Companies, 2024 |
10.2 Latvia Marine Battery Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |