Latvia: Market for Tyres For Motorcycles or Bicycles 2024

Market Size for Tyres For Motorcycles or Bicycles in Latvia

In 2022, the Latvian motorcycle or bicycle tyre market increased by X% to $X, rising for the fifth consecutive year after three years of decline. Overall, consumption continues to indicate a relatively flat trend pattern. Motorcycle or bicycle tyre consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Exports of Tyres For Motorcycles or Bicycles

Exports from Latvia

In 2022, shipments abroad of tyres for motorcycles or bicycles increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a pronounced contraction. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, motorcycle or bicycle tyre exports surged to $X in 2022. Overall, exports recorded a tangible increase. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

Russia (X units) was the main destination for motorcycle or bicycle tyre exports from Latvia, accounting for a X% share of total exports. Moreover, motorcycle or bicycle tyre exports to Russia exceeded the volume sent to the second major destination, Lithuania (X units), twofold. Estonia (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Estonia (X% per year).

In value terms, Russia ($X) remains the key foreign market for tyres for motorcycles or bicycles exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Lithuania ($X), with a X% share of total exports. It was followed by Estonia, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Estonia (X% per year).

Export Prices by Country

In 2022, the average motorcycle or bicycle tyre export price amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price posted a resilient expansion. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($X per unit), while the average price for exports to Poland ($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 Denmark (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tyres For Motorcycles or Bicycles

Imports into Latvia

In 2022, imports of tyres for motorcycles or bicycles into Latvia soared to X units, picking up by X% on the previous year's figure. Overall, imports, however, recorded a mild downturn. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, motorcycle or bicycle tyre imports soared to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Poland (X units) and Taiwan (Chinese) (X units) were the main suppliers of motorcycle or bicycle tyre imports to Latvia, with a combined X% share of total imports. Estonia, Germany, Italy, Slovenia, the Czech Republic and Lithuania lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Taiwan (Chinese) ($X) and Italy ($X) appeared to be the largest motorcycle or bicycle tyre suppliers to Latvia, with a combined X% share of total imports. Estonia, Slovenia, Germany, China, Lithuania and the Czech Republic lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Slovenia, with a CAGR of X%, recorded the highest growth rate of 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 motorcycle or bicycle tyre import price stood at $X per unit in 2022, increasing by X% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, motorcycle or bicycle tyre import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain 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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform