Latvia: Crawler Dozer Market 2024

Crawler Dozer Market Size in Latvia

The Latvian crawler dozer market was estimated at $X in 2022, almost unchanged from the previous year. Overall, consumption saw a significant expansion. Crawler dozer consumption peaked in 2022 and is likely to continue growth in the near future.

Crawler Dozer Production in Latvia

In value terms, crawler dozer production totaled less than $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume decreased by 99.9%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Crawler Dozer Exports

Exports from Latvia

Crawler dozer exports from Latvia surged to X units in 2022, with an increase of 32% compared with the year before. Overall, exports continue to indicate a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 280%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, crawler dozer exports surged to $X in 2022. In general, exports posted a slight increase. The pace of growth was the most pronounced in 2021 with an increase of 367% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for crawler dozer exports from Latvia, with a 56% share of total exports. Moreover, crawler dozer exports to Germany exceeded the volume sent to the second major destination, Lithuania (X units), fourfold. The Netherlands (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +30.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+7.2% per year) and the Netherlands (-3.5% per year).

In value terms, Lithuania ($X), Germany ($X) and the United States ($X) constituted the largest markets for crawler dozer exported from Latvia worldwide, with a combined 77% share of total exports.

Germany, with a CAGR of +23.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average crawler dozer export price stood at $X per unit in 2022, surging by 75% against the previous year. In general, the export price, however, continues to indicate a perceptible contraction. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to the Netherlands ($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 Austria (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Crawler Dozer Imports

Imports into Latvia

In 2022, overseas purchases of crawler dozers increased by 184% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports recorded a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, crawler dozer imports soared to $X in 2022. In general, imports enjoyed a prominent increase. The growth pace was the most rapid in 2017 when imports increased by 134% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the Czech Republic (X units) constituted the largest crawler dozer supplier to Latvia, accounting for a 43% share of total imports. Moreover, crawler dozer imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Lithuania (X units), threefold. The Netherlands (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from the Czech Republic amounted to +54.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+8.0% per year) and the Netherlands (+24.1% per year).

In value terms, the largest crawler dozer suppliers to Latvia were the Netherlands ($X), the Czech Republic ($X) and Belgium ($X), with a combined 66% share of total imports.

In terms of the main suppliers, the Czech Republic, with a CAGR of +69.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average crawler dozer import price amounted to $X per unit, shrinking by -56.3% against the previous year. Over the period under review, the import price saw a mild descent. The pace of growth was the most pronounced in 2021 when the average import price increased by 111% against the previous year. As a result, import price attained the peak level of $X per unit, and then declined dramatically in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Norway ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform