Latvia: Market for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters 2025

Market Size for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters in Latvia

After four years of growth, the Latvian electric oven and cooker market decreased by -8.3% to $X in 2022. In general, consumption, however, continues to indicate a prominent expansion. Over the period under review, the market reached the peak level at $X in 2021, and then reduced in the following year.

Exports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Exports from Latvia

In 2022, shipments abroad of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters decreased by -26.4% to X units for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 46% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2021, and then shrank rapidly in the following year.

In value terms, electric oven and cooker exports dropped rapidly to $X in 2022. In general, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 56% against the previous year. As a result, the exports attained the peak of $X, and then reduced remarkably in the following year.

Exports by Country

Estonia (X units), Lithuania (X units) and Moldova (X units) were the main destinations of electric oven and cooker exports from Latvia, together comprising 84% of total exports. Poland, Russia, Austria and the Czech Republic lagged somewhat behind, together comprising a further 9.7%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +87.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Lithuania ($X) and Russia ($X) were the largest markets for electric oven and cooker exported from Latvia worldwide, with a combined 81% share of total exports. The Czech Republic, Poland, Moldova and Austria lagged somewhat behind, together comprising a further 5.6%.

In terms of the main countries of destination, Austria, with a CAGR of +91.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average electric oven and cooker export price amounted to $X per unit, with an increase of 13% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 45%. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Austria ($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 Estonia (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Imports into Latvia

After four years of growth, supplies from abroad of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters decreased by -16.2% to X units in 2022. Over the period under review, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 90%. Over the period under review, imports reached the maximum at X units in 2021, and then dropped notably in the following year.

In value terms, electric oven and cooker imports dropped to $X in 2022. Overall, imports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2016 when imports increased by 34%. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Poland (X units) constituted the largest electric oven and cooker supplier to Latvia, accounting for a 41% share of total imports. Moreover, electric oven and cooker imports from Poland exceeded the figures recorded by the second-largest supplier, Lithuania (X units), twofold. China (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Poland stood at +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+12.3% per year) and China (+0.4% per year).

In value terms, Poland ($X), Lithuania ($X) and Estonia ($X) constituted the largest electric oven and cooker suppliers to Latvia, together comprising 68% of total imports. Germany, China, the Czech Republic, Slovakia and Turkey lagged somewhat behind, together accounting for a further 16%.

Slovakia, with a CAGR of +79.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electric oven and cooker import price stood at $X per unit in 2022, picking up by 8.3% against the previous year. Over the period under review, the import price, however, showed a slight setback. The most prominent rate of growth was recorded in 2016 an increase of 23% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Slovakia ($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 (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform