Latvia: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA 2025

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA in Latvia

In 2022, the Latvian market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA decreased by -94.3% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, showed temperate growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, production of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA soared to $X in 2022 estimated in export price. Overall, the total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -31.8% against 2019 indices. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA

Exports from Latvia

In 2022, overseas shipments of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA decreased by -61.7% to X units, falling for the second consecutive year after four years of growth. Over the period under review, exports, however, posted a notable increase. The pace of growth appeared the most rapid in 2020 when exports increased by 295% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA skyrocketed to $X in 2022. Overall, exports, however, posted a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X units) was the main destination for exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA from Latvia, accounting for a 72% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to Lithuania exceeded the volume sent to the second major destination, Ukraine (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania stood at +29.2%.

In value terms, Ukraine ($X) and Lithuania ($X) appeared to be the largest markets for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA exported from Latvia worldwide.

Lithuania, with a CAGR of +84.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average export price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA amounted to $X per unit, increasing by 570% against the previous year. In general, the export price saw strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Ukraine ($X per unit), while the average price for exports to Lithuania totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+448.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA

Imports into Latvia

Imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA into Latvia reduced notably to X units in 2022, with a decrease of -98% compared with 2021 figures. Over the period under review, imports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2020 with an increase of 22,110%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA soared to $X in 2022. Overall, imports, however, posted notable growth. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Poland (X units), Italy (X units) and Lithuania (X units) were the main suppliers of imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to Latvia, together comprising 78% of total imports. Croatia, France and Turkey lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Croatia (with a CAGR of +52.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical transformers with non-liquid dielectric, of power handling capacity over X kVA suppliers to Latvia were Italy ($X), Poland ($X) and Croatia ($X), together comprising 78% of total imports. Lithuania, France and Turkey lagged somewhat behind, together accounting for a further 19%.

Among the main suppliers, Lithuania, with a CAGR of +84.8%, 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 electrical transformers with non-liquid dielectric, of power handling capacity over X kVA stood at $X per unit in 2022, picking up by 12,217% against the previous year. In general, the import price, however, recorded a abrupt decline. 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 Italy ($X per unit), while the price for Lithuania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform