Latvia: Electromagnetic Lifting Head Market 2025

Electromagnetic Lifting Head Market Size in Latvia

The Latvian electromagnetic lifting head market fell slightly to $X in 2022, remaining relatively unchanged against the previous year. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.4% against 2020 indices. Electromagnetic lifting head consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Electromagnetic Lifting Head Production in Latvia

In value terms, electromagnetic lifting head production declined modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 -3.9% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 86%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Electromagnetic Lifting Head Exports

Exports from Latvia

In 2022, the amount of electromagnets and electromagnetic lifting heads exported from Latvia reduced rapidly to X tons, which is down by -50.3% against 2021 figures. Overall, exports saw a abrupt curtailment. The growth pace was the most rapid in 2019 when exports increased by 158%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, electromagnetic lifting head exports declined remarkably to $X in 2022. Over the period under review, exports, however, recorded slight growth. The most prominent rate of growth was recorded in 2019 with an increase of 256% against the previous year. The exports peaked at $X in 2021, and then declined remarkably in the following year.

Exports by Country

Germany (X tons) was the main destination for electromagnetic lifting head exports from Latvia, accounting for a 40% share of total exports. Moreover, electromagnetic lifting head exports to Germany exceeded the volume sent to the second major destination, Russia (X tons), twofold. The third position in this ranking was taken by Lithuania (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +74.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-23.5% per year) and Lithuania (+17.7% per year).

In value terms, Germany ($X) emerged as the key foreign market for electromagnets and electromagnetic lifting heads exports from Latvia, comprising 40% of total exports. The second position in the ranking was taken by Russia ($X), with a 19% share of total exports. It was followed by Sweden, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +75.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-13.8% per year) and Sweden (+53.8% per year).

Export Prices by Country

In 2022, the average electromagnetic lifting head export price amounted to $X per ton, with a decrease of -26.3% against the previous year. Over the period under review, the export price, however, continues to indicate a prominent increase. The growth pace was the most rapid in 2016 an increase of 72%. The export price peaked at $X per ton in 2021, and then shrank markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+22.4%), while the prices for the other major destinations experienced more modest paces of growth.

Electromagnetic Lifting Head Imports

Imports into Latvia

In 2022, electromagnetic lifting head imports into Latvia reduced slightly to X tons, which is down by -3.5% compared with 2021. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 163% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, electromagnetic lifting head imports declined notably to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 115% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest electromagnetic lifting head supplier to Latvia, accounting for a 52% share of total imports. Moreover, electromagnetic lifting head imports from Lithuania exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from Lithuania totaled +40.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+31.2% per year) and Germany (+12.7% per year).

In value terms, Lithuania ($X), China ($X) and Germany ($X) were the largest electromagnetic lifting head suppliers to Latvia, with a combined 60% share of total imports.

In terms of the main suppliers, Lithuania, with a CAGR of +35.8%, recorded the highest growth rate of 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

In 2022, the average electromagnetic lifting head import price amounted to $X per ton, falling by -12.7% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electromagnetic lifting head import price decreased by -30.3% against 2020 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 85%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform