| Product Code: ETC5234801 | Publication Date: Nov 2023 | Updated Date: Oct 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 | |
In 2024, Latvia saw a steady increase in torque wrench import shipments, with top exporting countries being Poland, Germany, Lithuania, China, and Estonia. The Herfindahl-Hirschman Index (HHI) indicated moderate concentration in the market. Despite a slight decline in growth rate from 2023 to 2024, the compound annual growth rate (CAGR) from 2020 to 2024 remained positive at 0.69%. This data suggests a stable market for torque wrench imports in Latvia, with key suppliers from both within Europe and Asia contributing to the industry`s growth.
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 Torque Wrench Market Overview  | 
3.1 Latvia Country Macro Economic Indicators  | 
3.2 Latvia Torque Wrench Market Revenues & Volume, 2021 & 2031F  | 
3.3 Latvia Torque Wrench Market - Industry Life Cycle  | 
3.4 Latvia Torque Wrench Market - Porter's Five Forces  | 
3.5 Latvia Torque Wrench Market Revenues & Volume Share, By Product Type, 2021 & 2031F  | 
3.6 Latvia Torque Wrench Market Revenues & Volume Share, By Applications, 2021 & 2031F  | 
4 Latvia Torque Wrench Market Dynamics  | 
4.1 Impact Analysis  | 
4.2 Market Drivers  | 
4.2.1 Increasing demand for precision tools in automotive and manufacturing industries  | 
4.2.2 Technological advancements in torque wrenches leading to improved efficiency and accuracy  | 
4.2.3 Growing focus on quality control and maintenance in various industries in Latvia  | 
4.3 Market Restraints  | 
4.3.1 High initial investment costs associated with torque wrenches  | 
4.3.2 Limited awareness and adoption of advanced torque wrench technologies in the market  | 
5 Latvia Torque Wrench Market Trends  | 
6 Latvia Torque Wrench Market Segmentations  | 
6.1 Latvia Torque Wrench Market, By Product Type  | 
6.1.1 Overview and Analysis  | 
6.1.2 Latvia Torque Wrench Market Revenues & Volume, By Manual Torque Wrench, 2021-2031F  | 
6.1.3 Latvia Torque Wrench Market Revenues & Volume, By Pneumatic Torque Wrench, 2021-2031F  | 
6.1.4 Latvia Torque Wrench Market Revenues & Volume, By Electronic Torque Wrench, 2021-2031F  | 
6.2 Latvia Torque Wrench Market, By Applications  | 
6.2.1 Overview and Analysis  | 
6.2.2 Latvia Torque Wrench Market Revenues & Volume, By Automotive, 2021-2031F  | 
6.2.3 Latvia Torque Wrench Market Revenues & Volume, By Engineering & Machinery Manufacturing, 2021-2031F  | 
6.2.4 Latvia Torque Wrench Market Revenues & Volume, By Construction, 2021-2031F  | 
6.2.5 Latvia Torque Wrench Market Revenues & Volume, By Shipping & Aerospace, 2021-2031F  | 
6.2.6 Latvia Torque Wrench Market Revenues & Volume, By Other, 2021-2031F  | 
7 Latvia Torque Wrench Market Import-Export Trade Statistics  | 
7.1 Latvia Torque Wrench Market Export to Major Countries  | 
7.2 Latvia Torque Wrench Market Imports from Major Countries  | 
8 Latvia Torque Wrench Market Key Performance Indicators  | 
8.1 Percentage increase in the adoption of digital torque wrenches  | 
8.2 Average time taken for torque application in industrial settings  | 
8.3 Number of training sessions conducted on the proper use of torque wrenches  | 
9 Latvia Torque Wrench Market - Opportunity Assessment  | 
9.1 Latvia Torque Wrench Market Opportunity Assessment, By Product Type, 2021 & 2031F  | 
9.2 Latvia Torque Wrench Market Opportunity Assessment, By Applications, 2021 & 2031F  | 
10 Latvia Torque Wrench Market - Competitive Landscape  | 
10.1 Latvia Torque Wrench Market Revenue Share, By Companies, 2024  | 
10.2 Latvia Torque Wrench Market Competitive Benchmarking, By Operating and Technical Parameters  | 
11 Company Profiles  | 
12 Recommendations  | 13 Disclaimer  |