Latvia: Market for Pneumatic Linear Acting Actuators 2024

Market Size for Pneumatic Linear Acting Actuators in Latvia

In 2022, the Latvian pneumatic linear acting actuator market increased by 29% to $X, rising for the fourth year in a row after four years of decline. Overall, consumption continues to indicate perceptible growth. Pneumatic linear acting actuator consumption peaked in 2022 and is likely to see steady growth in the near future.

Exports of Pneumatic Linear Acting Actuators

Exports from Latvia

Pneumatic linear acting actuator exports from Latvia dropped to X units in 2022, with a decrease of -12.9% against the previous year's figure. Over the period under review, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 287% against the previous year. Over the period under review, the exports hit record highs at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, pneumatic linear acting actuator exports dropped dramatically to $X in 2022. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2014 when exports increased by 334%. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

Sweden (X units), Estonia (X units) and Russia (X units) were the main destinations of pneumatic linear acting actuator exports from Latvia, with a combined 85% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of +53.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pneumatic linear acting actuator exported from Latvia were Sweden ($X), Russia ($X) and Estonia ($X), together comprising 78% of total exports.

In terms of the main countries of destination, Sweden, with a CAGR of +71.9%, saw 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 pneumatic linear acting actuator export price stood at $X per unit in 2022, with a decrease of -33.3% against the previous year. Over the period under review, the export price, however, saw notable growth. The pace of growth was the most pronounced in 2019 when the average export price increased by 51%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then dropped markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uzbekistan ($X per unit), while the average price for exports to Estonia ($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 Sweden (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Linear Acting Actuators

Imports into Latvia

In 2022, overseas purchases of pneumatic linear acting actuators increased by 7.5% to X units, rising for the fifth year in a row after three years of decline. Over the period under review, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 148%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, pneumatic linear acting actuator imports soared to $X in 2022. Overall, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 71% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of pneumatic linear acting actuator to Latvia, with a 32% share of total imports. Moreover, pneumatic linear acting actuator imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X units), twofold. Poland (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+38.3% per year) and Poland (+29.6% per year).

In value terms, Germany ($X) constituted the largest supplier of pneumatic linear acting actuators to Latvia, comprising 34% of total imports. The second position in the ranking was taken by Japan ($X), with a 17% share of total imports. It was followed by the Czech Republic, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+177.9% per year) and the Czech Republic (+32.4% per year).

Import Prices by Country

In 2022, the average pneumatic linear acting actuator import price amounted to $X per unit, rising by 18% against the previous year. In general, the import price, however, saw a mild decrease. The pace of growth was the most pronounced in 2020 an increase of 35% against the previous year. 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 Japan ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+19.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform