| Product Code: ETC5580050 | 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 |
The import shipments of solid state relays to Latvia in 2024 saw a significant increase in diversity, with top exporters being Hungary, Poland, Lithuania, Denmark, and Finland. The market concentration, as measured by the HHI, shifted from high to moderate in 2024, indicating a more balanced import landscape. The compound annual growth rate (CAGR) for the period 2020-2024 was notably negative at -25.5%, but there was a remarkable growth spurt in 2024 with a growth rate of 66.05%, suggesting a potential rebound and increased demand for solid state relays 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 Solid State Relay Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Solid State Relay Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Solid State Relay Market - Industry Life Cycle |
3.4 Latvia Solid State Relay Market - Porter's Five Forces |
3.5 Latvia Solid State Relay Market Revenues & Volume Share, By Mounting Type , 2021 & 2031F |
3.6 Latvia Solid State Relay Market Revenues & Volume Share, By Output Voltage , 2021 & 2031F |
3.7 Latvia Solid State Relay Market Revenues & Volume Share, By Current Rating , 2021 & 2031F |
3.8 Latvia Solid State Relay Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Latvia Solid State Relay Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for energy-efficient solutions in various industries |
4.2.2 Growing automation and digitalization trends in manufacturing processes |
4.2.3 Rising adoption of solid state relays for their reliability and durability |
4.3 Market Restraints |
4.3.1 High initial investment cost associated with solid state relays |
4.3.2 Limited awareness and technical knowledge among end-users |
4.3.3 Potential compatibility issues with existing systems and equipment |
5 Latvia Solid State Relay Market Trends |
6 Latvia Solid State Relay Market Segmentations |
6.1 Latvia Solid State Relay Market, By Mounting Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Solid State Relay Market Revenues & Volume, By Panel, 2021-2031F |
6.1.3 Latvia Solid State Relay Market Revenues & Volume, By PCB, 2021-2031F |
6.1.4 Latvia Solid State Relay Market Revenues & Volume, By DIN Rail, 2021-2031F |
6.1.5 Latvia Solid State Relay Market Revenues & Volume, By Others (plug-in, SO4, and DIP), 2021-2031F |
6.2 Latvia Solid State Relay Market, By Output Voltage |
6.2.1 Overview and Analysis |
6.2.2 Latvia Solid State Relay Market Revenues & Volume, By AC, 2021-2031F |
6.2.3 Latvia Solid State Relay Market Revenues & Volume, By DC, 2021-2031F |
6.2.4 Latvia Solid State Relay Market Revenues & Volume, By AC/DC, 2021-2031F |
6.3 Latvia Solid State Relay Market, By Current Rating |
6.3.1 Overview and Analysis |
6.3.2 Latvia Solid State Relay Market Revenues & Volume, By Low, 2021-2031F |
6.3.3 Latvia Solid State Relay Market Revenues & Volume, By Medium, 2021-2031F |
6.3.4 Latvia Solid State Relay Market Revenues & Volume, By High, 2021-2031F |
6.4 Latvia Solid State Relay Market, By Application |
6.4.1 Overview and Analysis |
6.4.2 Latvia Solid State Relay Market Revenues & Volume, By Energy and Infrastructure, 2021-2031F |
6.4.3 Latvia Solid State Relay Market Revenues & Volume, By Industrial OEM, 2021-2031F |
6.4.4 Latvia Solid State Relay Market Revenues & Volume, By Building Equipment, 2021-2031F |
6.4.5 Latvia Solid State Relay Market Revenues & Volume, By Food and Beverages, 2021-2031F |
6.4.6 Latvia Solid State Relay Market Revenues & Volume, By Automotive and Transportation, 2021-2031F |
6.4.7 Latvia Solid State Relay Market Revenues & Volume, By Industrial Automation, 2021-2031F |
7 Latvia Solid State Relay Market Import-Export Trade Statistics |
7.1 Latvia Solid State Relay Market Export to Major Countries |
7.2 Latvia Solid State Relay Market Imports from Major Countries |
8 Latvia Solid State Relay Market Key Performance Indicators |
8.1 Number of new product developments and innovations in the solid state relay market |
8.2 Adoption rate of solid state relays in key industries such as automotive, electronics, and healthcare |
8.3 Percentage increase in energy savings achieved by using solid state relays |
8.4 Average lifespan of solid state relays in different applications |
8.5 Rate of successful integration of solid state relays into existing systems |
9 Latvia Solid State Relay Market - Opportunity Assessment |
9.1 Latvia Solid State Relay Market Opportunity Assessment, By Mounting Type , 2021 & 2031F |
9.2 Latvia Solid State Relay Market Opportunity Assessment, By Output Voltage , 2021 & 2031F |
9.3 Latvia Solid State Relay Market Opportunity Assessment, By Current Rating , 2021 & 2031F |
9.4 Latvia Solid State Relay Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Latvia Solid State Relay Market - Competitive Landscape |
10.1 Latvia Solid State Relay Market Revenue Share, By Companies, 2024 |
10.2 Latvia Solid State Relay Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |