Latvia: Thermostat Market 2020

Thermostat Market Size in Latvia

The revenue of the thermostat market in Latvia amounted to $X in 2018, picking up by X% against the previous year. In general, thermostat consumption continues to indicate a measured setback. The pace of growth appeared the most rapid in 2011 with an increase of X% year-to-year. In that year, the thermostat market attained its peak level of $X. From 2012 to 2018, the growth of the thermostat market remained at a somewhat lower figure.

Thermostat Production in Latvia

In value terms, thermostat production stood at $X in 2018 estimated in export prices. Overall, thermostat production continues to indicate an abrupt setback. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Over the period under review, thermostat production reached its maximum level at $X in 2007; however, from 2008 to 2018, production remained at a lower figure.

Thermostat Exports

Exports from Latvia

In 2018, the amount of thermostats exported from Latvia stood at X units, growing by X% against the previous year. Over the period under review, thermostat exports continue to indicate an outstanding increase. The growth pace was the most rapid in 2009 with an increase of X% against the previous year. Over the period under review, thermostat exports attained their maximum at X units in 2015; however, from 2016 to 2018, exports remained at a lower figure.

In value terms, thermostat exports amounted to $X in 2018. Overall, thermostat exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2010 when exports increased by X% against the previous year. Over the period under review, thermostat exports attained their maximum at $X in 2015; however, from 2016 to 2018, exports failed to regain their momentum.

Exports by Country

China (X units) and Japan (X units) represented the largest exporters of thermostats in 2018, resulting at near X% and X% of total exports, respectively. China, Hong Kong SAR (X units) took the next position in the ranking, followed by Mexico (X units). All these countries together held near X% share of total exports. Germany (X units), the Czech Republic (X units), Italy (X units), the U.S. (X units), Croatia (X units) and France (X units) followed a long way behind the leaders.

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, China ($X), Germany ($X) and Mexico ($X) constituted the countries with the highest levels of exports in 2018, together comprising X% of total exports.

China recorded the highest growth rate of exports, among 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 thermostat export price in Latvia stood at $X per unit in 2018, surging by X% against the previous year. In general, the thermostat export price, however, continues to indicate a precipitous setback. The most prominent rate of growth was recorded in 2016 an increase of X% year-to-year. Over the period under review, the export prices for thermostats reached their maximum at $X per unit in 2007; however, from 2008 to 2018, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per unit), while Japan ($X per unit) was amongst the lowest.

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

Thermostat Imports

Imports into Latvia

In 2018, approx. X units of thermostats were imported into Latvia; picking up by X% against the previous year. Overall, thermostat imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2010 when imports increased by X% year-to-year. Over the period under review, thermostat imports attained their peak figure at X units in 2013; however, from 2014 to 2018, imports stood at a somewhat lower figure.

In value terms, thermostat imports amounted to $X in 2018. Over the period under review, thermostat imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. Latvia imports peaked at $X in 2013; however, from 2014 to 2018, imports remained at a lower figure.

Imports by Country

China, Hong Kong SAR was the main importer of thermostats in the world, with the volume of imports reaching X units, which was near X% of total imports in 2018. It was distantly followed by China (X units), Germany (X units), the U.S. (X units), Mexico (X units) and Turkey (X units), together making up a X% share of total imports. Italy (X units), the Czech Republic (X units), the UK (X units), India (X units), Brazil (X units) and Poland (X units) followed a long way behind the leaders.

Imports into China, Hong Kong SAR increased at an average annual rate of +X% from 2007 to 2018. At the same time, India (+X%), Turkey (+X%), Brazil (+X%), China (+X%), Poland (+X%), Germany (+X%) and Mexico (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. The Czech Republic experienced a relatively flat trend pattern. By contrast, the UK (-X%), the U.S. (-X%) and Italy (-X%) illustrated a downward trend over the same period. While the share of China, Hong Kong SAR (+X p.p.), China (+X p.p.) and Turkey (+X p.p.) increased significantly in terms of the global imports from 2007-2018, the share of Italy (-X p.p.) and the U.S. (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported thermostats into Latvia, comprising X% of global imports. The second position in the ranking was occupied by Germany ($X), with a X% share of global imports. It was followed by China, Hong Kong SAR, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in the U.S. totaled +X%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+X% per year) and China, Hong Kong SAR (+X% per year).

Import Prices by Country

In 2018, the thermostat import price in Latvia amounted to $X per unit, going down by -X% against the previous year. Over the period under review, the thermostat import price continues to indicate a drastic decline. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. Over the period under review, the import prices for thermostats attained their peak figure at $X per unit in 2007; however, from 2008 to 2018, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per unit), while China, Hong Kong SAR ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform