Latvia: Electrical Insulator Market 2025

Electrical Insulator Market Size in Latvia

The Latvian electrical insulator market shrank to $X in 2022, which is down by -3.1% against the previous year. In general, consumption recorded a perceptible shrinkage. Electrical insulator consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Electrical Insulator Production in Latvia

In value terms, electrical insulator production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced curtailment. The growth pace was the most rapid in 2019 with an increase of 21%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Electrical Insulator Exports

Exports from Latvia

In 2022, after three years of decline, there was significant growth in overseas shipments of electrical insulators, when their volume increased by 144% to X units. Over the period under review, exports, however, recorded a slight downturn. The pace of growth was the most pronounced in 2015 with an increase of 363% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, electrical insulator exports reduced markedly to $X in 2022. Overall, exports, however, continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2015 with an increase of 479%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Denmark (X units), Germany (X units) and Russia (X units) were the main destinations of electrical insulator exports from Latvia, together comprising 91% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +70.9%), while the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Denmark ($X) and Lithuania ($X) appeared to be the largest markets for electrical insulator exported from Latvia worldwide, with a combined 84% share of total exports.

In terms of the main countries of destination, Denmark, with a CAGR of +71.3%, saw the highest rates of growth with regard to 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

The average electrical insulator export price stood at $X per unit in 2022, which is down by -82.1% against the previous year. In general, the export price saw a abrupt downturn. The growth pace was the most rapid in 2019 an increase of 128%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per unit), while the average price for exports to Germany ($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 Poland (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulator Imports

Imports into Latvia

In 2022, overseas purchases of electrical insulators were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 119%. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, electrical insulator imports soared to $X in 2022. In general, imports, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2017 when imports increased by 67% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X units), Russia (X units) and China (X units) were the main suppliers of electrical insulator imports to Latvia, together comprising 70% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +85.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical insulator suppliers to Latvia were China ($X), Russia ($X) and Estonia ($X), with a combined 73% share of total imports.

China, with a CAGR of +150.9%, saw the highest growth rate of the value of imports, among the main suppliers 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 electrical insulator import price amounted to $X per unit, shrinking by -20.9% against the previous year. Overall, the import price saw a noticeable setback. The growth pace was the most rapid in 2016 when the average import price increased by 41% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Austria ($X per unit), while the price for Italy ($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 (+35.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform