Latvia: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA 2025

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA in Latvia

The Latvian market for electrical transformers with liquid dielectric, of power handling capacity over X kVA declined notably to $X in 2022, waning by -94.9% against the previous year. Overall, consumption saw a sharp decrease. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over X kVA in Latvia

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity over X kVA reached $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 3.5% against the previous year. Over the period under review, production of reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA

Exports from Latvia

Exports of electrical transformers with liquid dielectric, of power handling capacity over X kVA from Latvia reached X units in 2022, increasing by 11% on 2021. Over the period under review, exports showed significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 300% against the previous year. Over the period under review, the exports of hit record highs at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity over X kVA contracted dramatically to $X in 2022. In general, exports posted a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 502%. As a result, the exports attained the peak of $X, and then shrank remarkably in the following year.

Exports by Country

The Netherlands (X units) was the main destination for exports of electrical transformers with liquid dielectric, of power handling capacity over X kVA from Latvia, accounting for a approx. 100% share of total exports.

From 2016 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to +64.8%.

In value terms, the Netherlands ($X) emerged as the key foreign market for electrical transformers with liquid dielectric, of power handling capacity over X kVA exports from Latvia.

From 2016 to 2022, the average annual growth rate of value to the Netherlands totaled +114.9%.

Export Prices by Country

The average export price for electrical transformers with liquid dielectric, of power handling capacity over X kVA stood at $X per unit in 2022, which is down by -47.5% against the previous year. In general, the export price, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2021 when the average export price increased by 602% against the previous year. As a result, the export price reached the peak level of $X per unit, and then shrank rapidly in the following year.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2016 to 2022, the rate of growth in terms of prices for the Netherlands amounted to +30.4% per year.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA

Imports into Latvia

In 2022, after two years of growth, there was significant decline in purchases abroad of electrical transformers with liquid dielectric, of power handling capacity over X kVA, when their volume decreased by -65.4% to X units. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 160% against the previous year. As a result, imports reached the peak of X units, and then declined remarkably in the following year.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity over X kVA reduced markedly to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 226% against the previous year. As a result, imports attained the peak of $X, and then plummeted in the following year.

Imports by Country

Poland (X units) and the Czech Republic (X units) were the main suppliers of imports of electrical transformers with liquid dielectric, of power handling capacity over X kVA to Latvia. Moreover, imports of electrical transformers with liquid dielectric, of power handling capacity over X kVA in Poland exceeded the figures recorded by the second-largest supplier, the Czech Republic, twofold.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +14.7%).

In value terms, the largest electrical transformers with liquid dielectric, of power handling capacity over X kVA suppliers to Latvia were Poland ($X) and the Czech Republic ($X).

The Czech Republic, with a CAGR of +26.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review.

Import Prices by Country

In 2022, the average import price for electrical transformers with liquid dielectric, of power handling capacity over X kVA amounted to $X per unit, rising by 3.2% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 125% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 the Czech Republic ($X per unit), while the price for Poland stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform