Latvia: Market for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators 2025

Market Size for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators in Latvia

After two years of growth, the Latvian nickel and lithium accumulators market decreased by -97.1% to $X in 2022. In general, consumption continues to indicate a sharp contraction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Production of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators in Latvia

In value terms, nickel and lithium accumulators production reached $X in 2022 estimated in export price. In general, production continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2016 when the production volume increased by 16%. Nickel and lithium accumulators production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Exports from Latvia

In 2022, overseas shipments of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, nickel and lithium accumulators exports surged to $X in 2022. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 429%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Ukraine (X units), Poland (X units) and Lithuania (X units) were the main destinations of nickel and lithium accumulators exports from Latvia, with a combined 68% share of total exports. Estonia, the Netherlands, Germany, the Czech Republic and Russia lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +142.7%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Poland ($X) and Ukraine ($X) constituted the largest markets for nickel and lithium accumulators exported from Latvia worldwide, with a combined 75% share of total exports.

In terms of the main countries of destination, Poland, with a CAGR of +123.5%, recorded the highest growth rate of 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

In 2022, the average nickel and lithium accumulators export price amounted to $X per unit, picking up by 5.3% against the previous year. Overall, the export price, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2016 an increase of 45%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Imports into Latvia

In 2022, nickel and lithium accumulators imports into Latvia skyrocketed to X units, with an increase of 94% on the previous year's figure. In general, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2016 with an increase of 402% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, nickel and lithium accumulators imports skyrocketed to $X in 2022. Overall, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2016 with an increase of 170% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X units) constituted the largest nickel and lithium accumulators supplier to Latvia, with a 37% share of total imports. Moreover, nickel and lithium accumulators imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Estonia (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.0% per year) and Estonia (+39.4% per year).

In value terms, Germany ($X), the Czech Republic ($X) and China ($X) were the largest nickel and lithium accumulators suppliers to Latvia, with a combined 73% share of total imports.

In terms of the main suppliers, Germany, with a CAGR of +37.7%, saw 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 nickel and lithium accumulators import price stood at $X per unit in 2022, increasing by 34% against the previous year. In general, the import price saw a remarkable increase. The growth pace was the most rapid in 2017 when the average import price increased by 157% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

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 ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform