Latvia: Market for Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA 2024

Market Size for Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA in Latvia

The Latvian market for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA shrank notably to $X in 2022, waning by -74.2% against the previous year. Over the period under review, consumption showed a significant curtailment. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Diesel or Semi-Diesel Electric Generating Sets of Output Over X kVA but Under X kVA in Latvia

In value terms, production of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA reduced dramatically to $X in 2022 estimated in export price. In general, production saw a sharp slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by 95% against the previous year. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA

Exports from Latvia

After two years of growth, overseas shipments of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA decreased by -25% to X units in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2017 with an increase of 183%. Over the period under review, the exports of attained the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA shrank remarkably to $X in 2022. Overall, exports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of 281%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Lithuania (X units) was the main destination for exports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA from Latvia, with a 70% share of total exports. Moreover, exports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA to Lithuania exceeded the volume sent to the second major destination, Ukraine (X units), tenfold. Estonia (X units) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume to Lithuania amounted to +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (-14.0% per year) and Estonia (-7.4% per year).

In value terms, the largest markets for diesel or semi-diesel electric generating set of output over X kVA but under X kVA exported from Latvia were Lithuania ($X), Russia ($X) and Estonia ($X), with a combined 57% share of total exports. Ukraine, Germany, Turkey and Poland lagged somewhat behind, together comprising a further 40%.

Germany, with a CAGR of +23.5%, saw 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 export price for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA stood at $X per unit in 2022, falling by -1.9% against the previous year. Over the period under review, the export price saw a deep reduction. The growth pace was the most rapid in 2021 an increase of 63% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Lithuania ($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 Turkey (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Diesel or Semi-Diesel Electric Generating Sets of Output Over 75 kVA but Under 375 kVA

Imports into Latvia

In 2022, imports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA into Latvia contracted dramatically to X units, declining by -47.1% on the previous year. Overall, imports saw a noticeable descent. The most prominent rate of growth was recorded in 2021 with an increase of 80% against the previous year. As a result, imports reached the peak of X units, and then fell markedly in the following year.

In value terms, imports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA contracted sharply to $X in 2022. In general, imports continue to indicate a pronounced decline. The growth pace was the most rapid in 2021 with an increase of 174% against the previous year. As a result, imports reached the peak of $X, and then declined significantly in the following year.

Imports by Country

France (X units), Turkey (X units) and China (X units) were the main suppliers of imports of diesel or semi-diesel electric generating sets of output over X kVA but under X kVA to Latvia, with a combined 82% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +21.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Turkey ($X) and China ($X) were the largest diesel or semi-diesel electric generating set of output over X kVA but under X kVA suppliers to Latvia, together comprising 85% of total imports.

In terms of the main suppliers, China, with a CAGR of +30.9%, recorded the highest rates of growth with regard to 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

The average import price for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA stood at $X per unit in 2022, which is down by -8.5% against the previous year. In general, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for diesel or semi-diesel electric generating sets of output over X kVA but under X kVA increased by +43.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 68% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 China ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+27.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform