| Product Code: ETC5919200 | 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 |
Latvia`s solid-state transformer import market saw significant growth in 2024, with top exporting countries being Germany, Poland, Czechia, Denmark, and Turkey. The industry experienced a shift from low to moderate concentration, indicating increased competition among suppliers. The impressive Compound Annual Growth Rate (CAGR) of 7.93% from 2020 to 2024 highlights the expanding market demand. Additionally, the substantial growth rate of 20.26% from 2023 to 2024 suggests a surge in import shipments, reflecting a positive outlook for the solid-state transformer market 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 Solid-State Transformer Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Solid-State Transformer Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Solid-State Transformer Market - Industry Life Cycle |
3.4 Latvia Solid-State Transformer Market - Porter's Five Forces |
3.5 Latvia Solid-State Transformer Market Revenues & Volume Share, By Voltage Level, 2021 & 2031F |
3.6 Latvia Solid-State Transformer Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Latvia Solid-State Transformer Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for renewable energy sources in Latvia |
4.2.2 Growing emphasis on energy efficiency and grid stability |
4.2.3 Technological advancements in power distribution systems |
4.3 Market Restraints |
4.3.1 High initial investment costs associated with solid-state transformers |
4.3.2 Lack of awareness and understanding of the benefits of solid-state transformers |
4.3.3 Regulatory challenges and grid infrastructure limitations |
5 Latvia Solid-State Transformer Market Trends |
6 Latvia Solid-State Transformer Market Segmentations |
6.1 Latvia Solid-State Transformer Market, By Voltage Level |
6.1.1 Overview and Analysis |
6.1.2 Latvia Solid-State Transformer Market Revenues & Volume, By HV/MV, 2021-2031F |
6.1.3 Latvia Solid-State Transformer Market Revenues & Volume, By MV/LV, 2021-2031F |
6.2 Latvia Solid-State Transformer Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Latvia Solid-State Transformer Market Revenues & Volume, By Renewable Power Generation, 2021-2031F |
6.2.3 Latvia Solid-State Transformer Market Revenues & Volume, By Automotive, 2021-2031F |
6.2.4 Latvia Solid-State Transformer Market Revenues & Volume, By Power Grids, 2021-2031F |
6.2.5 Latvia Solid-State Transformer Market Revenues & Volume, By Traction Locomotives, 2021-2031F |
6.2.6 Latvia Solid-State Transformer Market Revenues & Volume, By Others, 2021-2031F |
7 Latvia Solid-State Transformer Market Import-Export Trade Statistics |
7.1 Latvia Solid-State Transformer Market Export to Major Countries |
7.2 Latvia Solid-State Transformer Market Imports from Major Countries |
8 Latvia Solid-State Transformer Market Key Performance Indicators |
8.1 Adoption rate of solid-state transformers in Latvia |
8.2 Percentage of renewable energy integration in the grid |
8.3 Number of research and development initiatives focused on solid-state transformer technology |
8.4 Energy efficiency improvements in the power grid |
8.5 Integration of smart grid solutions with solid-state transformers |
9 Latvia Solid-State Transformer Market - Opportunity Assessment |
9.1 Latvia Solid-State Transformer Market Opportunity Assessment, By Voltage Level, 2021 & 2031F |
9.2 Latvia Solid-State Transformer Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Latvia Solid-State Transformer Market - Competitive Landscape |
10.1 Latvia Solid-State Transformer Market Revenue Share, By Companies, 2024 |
10.2 Latvia Solid-State Transformer Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |