Latvia: Internal Combustion Engines Market 2020

Internal Combustion Engines Market Size in Latvia

The revenue of the internal combustion engines market in Latvia amounted to $X in 2018, declining by -X% against the previous year. Overall, internal combustion engines consumption continues to indicate an abrupt reduction. The most prominent rate of growth was recorded in 2012 when the market value increased by X% against the previous year. Latvia internal combustion engines consumption peaked at $X in 2013; however, from 2014 to 2018, consumption remained at a lower figure.

Internal Combustion Engines Production in Latvia

In value terms, internal combustion engines production amounted to $X in 2018 estimated in export prices. Over the period under review, internal combustion engines production continues to indicate a perceptible decline. The growth pace was the most rapid in 2012 with an increase of X% against the previous year. Latvia internal combustion engines production peaked at $X in 2013; however, from 2014 to 2018, production stood at a somewhat lower figure.

Internal Combustion Engines Exports

Exports from Latvia

In 2018, the amount of motor vehicles compression-ignition internal combustion piston engines exported from Latvia amounted to X units, coming down by -X% against the previous year. In general, internal combustion engines exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Over the period under review, internal combustion engines exports attained their maximum at X units in 2017, and then declined slightly in the following year.

In value terms, internal combustion engines exports amounted to $X in 2018. Overall, internal combustion engines exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2012 with an increase of X% y-o-y. Latvia exports peaked at $X in 2013; however, from 2014 to 2018, exports failed to regain their momentum.

Exports by Country

The UK (X units), Hungary (X units), France (X units), Poland (X units), the U.S. (X units), Germany (X units), Italy (X units), Japan (X units), Austria (X units), Spain (X units), Sweden (X units) and Thailand (X units) represented roughly X% of total exports of motor vehicles compression-ignition internal combustion piston engines in 2018.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Latvia, while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), Germany ($X) and France ($X) appeared to be the countries with the highest levels of exports in 2018, together accounting for X% of total exports. These countries were followed by Hungary, Austria, the UK, Sweden, Poland, Italy, Thailand, Japan, Spain and Latvia, which together accounted for a further X experienced the highest growth rate of exports, in terms of the main exporting countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The internal combustion engines export price in Latvia stood at $X per unit in 2018, jumping by X% against the previous year. Overall, the export price indicated notable growth from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 an increase of X% year-to-year. Over the period under review, the export prices for motor vehicles compression-ignition internal combustion piston engines reached their maximum at $X per unit in 2014; however, from 2015 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was the U.S. ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Thailand, while the other leaders experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into Latvia

In 2018, approx. X units of motor vehicles compression-ignition internal combustion piston engines were imported into Latvia; going down by -X% against the previous year. Over the period under review, internal combustion engines imports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2011 when imports increased by X% year-to-year. Over the period under review, internal combustion engines imports reached their maximum at X units in 2017, and then declined slightly in the following year.

In value terms, internal combustion engines imports totaled $X in 2018. Over the period under review, internal combustion engines imports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2009 when imports increased by X% year-to-year. Over the period under review, internal combustion engines imports attained their peak figure in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, Germany (X units), distantly followed by Mexico (X units), the U.S. (X units), Turkey (X units), the UK (X units) and the Czech Republic (X units) were the key importers of motor vehicles compression-ignition internal combustion piston engines, together comprising X% of total imports. Spain (X units), Italy (X units), France (X units), Argentina (X units), Romania (X units) and Russia (X units) held a relatively small share of total imports.

From 2007 to 2018, average annual rates of growth with regard to internal combustion engines imports into Germany stood at +X%. At the same time, Mexico (+X%), Argentina (+X%), the U.S. (+X%), Russia (+X%), the Czech Republic (+X%) and Romania (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. Turkey experienced a relatively flat trend pattern. By contrast, Italy (-X%), the UK (-X%), Spain (-X%) and France (-X%) illustrated a downward trend over the same period. Mexico (+X p.p.), the U.S. (+X p.p.), the Czech Republic (+X p.p.), Germany (+X p.p.) and Argentina (+X p.p.) significantly strengthened its position in terms of the global imports, while Spain, the UK and France saw its share reduced by -X%, -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest internal combustion engines importing markets into Latvia were Mexico ($X), Germany ($X) and the U.S. ($X), with a combined X% share of total imports. These countries were followed by Spain, Turkey, the Czech Republic, the UK, France, Italy, Russia, Argentina, Romania and Latvia, which together accounted for a further X experienced the highest rates of growth with regard to imports, among the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the internal combustion engines import price in Latvia amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the internal combustion engines import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 an increase of X% against the previous year. Over the period under review, the import prices for motor vehicles compression-ignition internal combustion piston engines reached their peak figure at $X per unit in 2010; however, from 2011 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Mexico ($X per unit), while the UK ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Spain, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform