Latvia: Market for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process 2024

Market Size for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in Latvia

In 2022, the Latvian market for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption showed a perceptible setback. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in Latvia

In value terms, production of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process fell rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable setback. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, production of reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Exports from Latvia

Exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process from Latvia dropped sharply to X units in 2022, with a decrease of X% compared with the previous year. In general, exports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports of hit record highs at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process reduced markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Russia (X units), British Virgin Islands (X units) and Lithuania (X units) were the main destinations of exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process from Latvia, together accounting for X% of total exports. Belarus, Finland, Ukraine, Estonia, Uzbekistan and Brazil lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Finland ($X), with a X% share of total exports. It was followed by Lithuania, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X% per year) and Lithuania (X% per year).

Export Prices by Country

In 2022, the average export price for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process amounted to $X per unit, which is down by X% against the previous year. In general, the export price, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X per unit in 2021, and then fell remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to British Virgin Islands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Imports into Latvia

After three years of growth, overseas purchases of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process decreased by X% to X units in 2022. Overall, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process contracted sharply to $X in 2022. In general, imports saw a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports of attained the peak figure at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

China (X units), Germany (X units) and Italy (X units) were the main suppliers of imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process to Latvia, together comprising X% of total imports. Poland, Lithuania, Denmark, Turkey, Russia, Finland, Austria, the Netherlands and Ukraine lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process to Latvia, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average import price for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process amounted to $X per unit, which is down by X% against the previous year. Over the period under review, the import price, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per unit in 2021, and then fell rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform