| Product Code: ETC5368466 | 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 a shift in the concentration of radio and audio equipment import shipments, with a notable increase in the Herfindahl-Hirschman Index (HHI) indicating higher market concentration. Top exporting countries such as Estonia, Poland, and Lithuania continued to play a significant role, with Netherlands and Germany also making substantial contributions. Despite a challenging year with a negative Compound Annual Growth Rate (CAGR) of -2.28% from 2020 to 2024, the steep decline in growth rate from 2023 to 2024 at -25.61% suggests a need for market players to adapt to changing dynamics in the Latvian 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 Radio and Audio Equipment Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Radio and Audio Equipment Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Radio and Audio Equipment Market - Industry Life Cycle |
3.4 Latvia Radio and Audio Equipment Market - Porter's Five Forces |
3.5 Latvia Radio and Audio Equipment Market Revenues & Volume Share, By Radio Type, 2021 & 2031F |
3.6 Latvia Radio and Audio Equipment Market Revenues & Volume Share, By Audio Equipment Type, 2021 & 2031F |
3.7 Latvia Radio and Audio Equipment Market Revenues & Volume Share, By End-users, 2021 & 2031F |
4 Latvia Radio and Audio Equipment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Technological advancements in radio and audio equipment |
4.2.2 Increasing demand for smart home devices and connected audio systems |
4.2.3 Growing popularity of podcasts and online streaming services |
4.3 Market Restraints |
4.3.1 Economic uncertainty affecting consumer spending on non-essential goods |
4.3.2 Competition from alternative entertainment options such as streaming services and mobile devices |
5 Latvia Radio and Audio Equipment Market Trends |
6 Latvia Radio and Audio Equipment Market Segmentations |
6.1 Latvia Radio and Audio Equipment Market, By Radio Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Radio and Audio Equipment Market Revenues & Volume, By Broadcast Radio, 2021-2031F |
6.1.3 Latvia Radio and Audio Equipment Market Revenues & Volume, By Online/Mobile Radio, 2021-2031F |
6.1.4 Latvia Radio and Audio Equipment Market Revenues & Volume, By Satellite Radio, 2021-2031F |
6.2 Latvia Radio and Audio Equipment Market, By Audio Equipment Type |
6.2.1 Overview and Analysis |
6.2.2 Latvia Radio and Audio Equipment Market Revenues & Volume, By Loudspeakers, 2021-2031F |
6.2.3 Latvia Radio and Audio Equipment Market Revenues & Volume, By Microphones, 2021-2031F |
6.2.4 Latvia Radio and Audio Equipment Market Revenues & Volume, By Amplifiers, 2021-2031F | 6.2.5 Latvia Radio and Audio Equipment Market Revenues & Volume, By Turntables, 2021-2031F |
6.2.6 Latvia Radio and Audio Equipment Market Revenues & Volume, By Others ? , 2021-2031F |
6.3 Latvia Radio and Audio Equipment Market, By End-users |
6.3.1 Overview and Analysis |
6.3.2 Latvia Radio and Audio Equipment Market Revenues & Volume, By B2B, 2021-2031F |
6.3.3 Latvia Radio and Audio Equipment Market Revenues & Volume, By B2C, 2021-2031F |
7 Latvia Radio and Audio Equipment Market Import-Export Trade Statistics |
7.1 Latvia Radio and Audio Equipment Market Export to Major Countries |
7.2 Latvia Radio and Audio Equipment Market Imports from Major Countries |
8 Latvia Radio and Audio Equipment Market Key Performance Indicators |
8.1 Adoption rate of smart home devices in Latvia |
8.2 Number of podcast listeners in the country |
8.3 Percentage of households with audio streaming subscriptions |
8.4 Average time spent listening to radio/audio content per day |
8.5 Rate of new product launches in the radio and audio equipment market |
9 Latvia Radio and Audio Equipment Market - Opportunity Assessment |
9.1 Latvia Radio and Audio Equipment Market Opportunity Assessment, By Radio Type, 2021 & 2031F |
9.2 Latvia Radio and Audio Equipment Market Opportunity Assessment, By Audio Equipment Type, 2021 & 2031F |
9.3 Latvia Radio and Audio Equipment Market Opportunity Assessment, By End-users, 2021 & 2031F |
10 Latvia Radio and Audio Equipment Market - Competitive Landscape |
10.1 Latvia Radio and Audio Equipment Market Revenue Share, By Companies, 2024 |
10.2 Latvia Radio and Audio Equipment Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |