| Product Code: ETC4766242 | 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 saw an increase in permanent magnet motor import shipments, with top exporting countries being China, Germany, USA, Lithuania, and Poland. The market concentration shifted from low to moderate, indicating a more balanced distribution among suppliers. The compound annual growth rate (CAGR) from 2020 to 2024 was 2.12%, with a notable growth rate of 10.03% from 2023 to 2024. These trends suggest a growing demand for permanent magnet motors in Latvia, with a diverse range of suppliers catering to the market.

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 Permanent Magnet Motor Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Permanent Magnet Motor Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Permanent Magnet Motor Market - Industry Life Cycle |
3.4 Latvia Permanent Magnet Motor Market - Porter's Five Forces |
3.5 Latvia Permanent Magnet Motor Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Latvia Permanent Magnet Motor Market Revenues & Volume Share, By Power Rating, 2021 & 2031F |
3.7 Latvia Permanent Magnet Motor Market Revenues & Volume Share, By End-user, 2021 & 2031F |
4 Latvia Permanent Magnet Motor Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for energy-efficient and high-performance motors in various industries |
4.2.2 Government initiatives promoting the use of permanent magnet motors for energy savings |
4.2.3 Growing adoption of electric vehicles and renewable energy sources driving the demand for permanent magnet motors |
4.3 Market Restraints |
4.3.1 High initial investment costs associated with permanent magnet motors |
4.3.2 Limited availability of rare earth materials required for manufacturing permanent magnets |
4.3.3 Competition from other motor technologies like induction motors |
5 Latvia Permanent Magnet Motor Market Trends |
6 Latvia Permanent Magnet Motor Market Segmentations |
6.1 Latvia Permanent Magnet Motor Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Permanent Magnet Motor Market Revenues & Volume, By PMAC, 2021-2031F |
6.1.3 Latvia Permanent Magnet Motor Market Revenues & Volume, By PMDC, 2021-2031F |
6.1.4 Latvia Permanent Magnet Motor Market Revenues & Volume, By Brushless DC, 2021-2031F |
6.2 Latvia Permanent Magnet Motor Market, By Power Rating |
6.2.1 Overview and Analysis |
6.2.2 Latvia Permanent Magnet Motor Market Revenues & Volume, By Up to 25 kW, 2021-2031F |
6.2.3 Latvia Permanent Magnet Motor Market Revenues & Volume, By 25? ??100 kW, 2021-2031F |
6.2.4 Latvia Permanent Magnet Motor Market Revenues & Volume, By 100? ??300 kW, 2021-2031F |
6.2.5 Latvia Permanent Magnet Motor Market Revenues & Volume, By 300 kW and Above, 2021-2031F |
6.3 Latvia Permanent Magnet Motor Market, By End-user |
6.3.1 Overview and Analysis |
6.3.2 Latvia Permanent Magnet Motor Market Revenues & Volume, By Industrial, 2021-2031F |
6.3.3 Latvia Permanent Magnet Motor Market Revenues & Volume, By Commercial and Residential, 2021-2031F |
6.3.4 Latvia Permanent Magnet Motor Market Revenues & Volume, By Others, 2021-2031F |
7 Latvia Permanent Magnet Motor Market Import-Export Trade Statistics |
7.1 Latvia Permanent Magnet Motor Market Export to Major Countries |
7.2 Latvia Permanent Magnet Motor Market Imports from Major Countries |
8 Latvia Permanent Magnet Motor Market Key Performance Indicators |
8.1 Energy efficiency improvement percentage achieved by using permanent magnet motors |
8.2 Adoption rate of permanent magnet motors in key industries in Latvia |
8.3 Percentage increase in the production capacity of permanent magnet motors in Latvia |
9 Latvia Permanent Magnet Motor Market - Opportunity Assessment |
9.1 Latvia Permanent Magnet Motor Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Latvia Permanent Magnet Motor Market Opportunity Assessment, By Power Rating, 2021 & 2031F |
9.3 Latvia Permanent Magnet Motor Market Opportunity Assessment, By End-user, 2021 & 2031F |
10 Latvia Permanent Magnet Motor Market - Competitive Landscape |
10.1 Latvia Permanent Magnet Motor Market Revenue Share, By Companies, 2024 |
10.2 Latvia Permanent Magnet Motor Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |