Report Update Nov 1, 2024

Latvia - Handtools, Hydraulic or With A Self-Contained Non-Electric Motor - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Latvia

In 2022, after two years of decline, there was significant growth in the Latvian non-electric motor handtools market, when its value increased by 947% to $X. In general, consumption, however, saw a drastic downturn. Non-electric motor handtools consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Non-Electric Motor Handtools Production in Latvia

In value terms, non-electric motor handtools production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 32%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Non-Electric Motor Handtools Exports

Exports from Latvia

In 2022, overseas shipments of handtools, hydraulic or with a self-contained non-electric motor decreased by -33.6% to X units for the first time since 2016, thus ending a five-year rising trend. Over the period under review, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 73%. The exports peaked at X units in 2021, and then reduced dramatically in the following year.

In value terms, non-electric motor handtools exports shrank sharply to $X in 2022. Overall, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2018 when exports increased by 90% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Lithuania (X units), Sweden (X units) and France (X units) were the main destinations of non-electric motor handtools exports from Latvia, with a combined 49% share of total exports. Germany, the Czech Republic, Italy, Estonia and Russia lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +193.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-electric motor handtools exported from Latvia were Lithuania ($X), Sweden ($X) and France ($X), together accounting for 49% of total exports. Germany, the Czech Republic, Italy, Estonia and Russia lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, the Czech Republic, with a CAGR of +182.3%, recorded 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 non-electric motor handtools export price stood at $X per unit in 2022, rising by 20% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-electric motor handtools export price decreased by -35.7% against 2019 indices. The growth pace was the most rapid in 2019 when the average export price increased by 55% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($X per unit) and Estonia ($X per unit), while the average price for exports to Italy ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Motor Handtools Imports

Imports into Latvia

In value terms, non-electric motor handtools imports reduced slightly to $X in 2022. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +83.2% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 53% against the previous year. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In value terms, Lithuania ($X) constituted the largest supplier of handtools, hydraulic or with a self-contained non-electric motor to Latvia, comprising 39% of total imports. The second position in the ranking was taken by China ($X), with a 19% share of total imports. It was followed by Sweden, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania stood at +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.5% per year) and Sweden (-1.0% per year).

Source: IndexBox Platform

This report provides an in-depth analysis of the non-electric motor handtools market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28241280 - Handtools, hydraulic or with a self-contained non-electric motor (excluding chainsaws)

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023