| Product Code: ETC7924483 | Publication Date: Sep 2024 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Sumit Sagar | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
Latvia continues to rely on imports for water well drilling equipment, with top exporters including the USA, Estonia, Sweden, China, and Lithuania in 2024. The market shows high concentration with a high Herfindahl-Hirschman Index (HHI). However, the industry experienced a significant decline with a negative Compound Annual Growth Rate (CAGR) of -17.81% from 2020 to 2024. Furthermore, the growth rate plummeted even further in 2024, with a steep decline of -65.01% compared to the previous year. These trends may indicate challenges or shifts in the market dynamics that stakeholders should closely monitor.

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 Water Well Drilling Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Water Well Drilling Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Water Well Drilling Market - Industry Life Cycle |
3.4 Latvia Water Well Drilling Market - Porter's Five Forces |
3.5 Latvia Water Well Drilling Market Revenues & Volume Share, By DrillingMethod Type, 2021 & 2031F |
3.6 Latvia Water Well Drilling Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Latvia Water Well Drilling Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for clean water supply in rural and remote areas of Latvia |
4.2.2 Government initiatives to improve water infrastructure and access to safe drinking water |
4.2.3 Growing investments in construction and infrastructure development projects in Latvia |
4.3 Market Restraints |
4.3.1 Environmental regulations and restrictions on drilling activities in certain regions of Latvia |
4.3.2 Fluctuating prices of raw materials and equipment used in water well drilling |
4.3.3 Competition from alternative water supply solutions such as desalination plants or water treatment facilities |
5 Latvia Water Well Drilling Market Trends |
6 Latvia Water Well Drilling Market, By Types |
6.1 Latvia Water Well Drilling Market, By DrillingMethod Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Water Well Drilling Market Revenues & Volume, By DrillingMethod Type, 2021- 2031F |
6.1.3 Latvia Water Well Drilling Market Revenues & Volume, By Cable Tools Drilling and Auger Drilling, 2021- 2031F |
6.1.4 Latvia Water Well Drilling Market Revenues & Volume, By Rotary Drilling, 2021- 2031F |
6.1.5 Latvia Water Well Drilling Market Revenues & Volume, By Others, 2021- 2031F |
6.2 Latvia Water Well Drilling Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Latvia Water Well Drilling Market Revenues & Volume, By Residential, 2021- 2031F |
6.2.3 Latvia Water Well Drilling Market Revenues & Volume, By Irrigation, 2021- 2031F |
6.2.4 Latvia Water Well Drilling Market Revenues & Volume, By Institutional, 2021- 2031F |
7 Latvia Water Well Drilling Market Import-Export Trade Statistics |
7.1 Latvia Water Well Drilling Market Export to Major Countries |
7.2 Latvia Water Well Drilling Market Imports from Major Countries |
8 Latvia Water Well Drilling Market Key Performance Indicators |
8.1 Average depth of wells drilled per year |
8.2 Percentage of successful well drilling projects completed on time |
8.3 Number of new drilling equipment acquisitions per quarter |
8.4 Rate of adoption of advanced drilling technologies in the market |
8.5 Customer satisfaction ratings for water well drilling services |
9 Latvia Water Well Drilling Market - Opportunity Assessment |
9.1 Latvia Water Well Drilling Market Opportunity Assessment, By DrillingMethod Type, 2021 & 2031F |
9.2 Latvia Water Well Drilling Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Latvia Water Well Drilling Market - Competitive Landscape |
10.1 Latvia Water Well Drilling Market Revenue Share, By Companies, 2024 |
10.2 Latvia Water Well Drilling Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |