Latvia: Wheelchair Market 2020

Wheelchair Market Size in Latvia

The revenue of the wheelchair market in Latvia amounted to $X in 2018, growing by X% against the previous year. Overall, wheelchair consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the market value increased by X% y-o-y. Latvia wheelchair consumption peaked at $X in 2012; however, from 2013 to 2018, consumption remained at a lower figure.

Wheelchair Production in Latvia

In value terms, wheelchair production amounted to $X in 2018 estimated in export prices. Over the period under review, wheelchair production, however, continues to indicate a significant setback. The pace of growth appeared the most rapid in 2012 when production volume increased by X% y-o-y. Latvia wheelchair production peaked at $X in 2013; however, from 2014 to 2018, production remained at a lower figure.

Wheelchair Exports

Exports from Latvia

In 2018, the wheelchair exports from Latvia totaled X units, going down by -X% against the previous year. Overall, wheelchair exports continue to indicate a deep decrease. The pace of growth was the most pronounced in 2008 when exports increased by X% year-to-year. In that year, wheelchair exports attained their peak of X units. From 2009 to 2018, the growth of wheelchair exports remained at a lower figure.

In value terms, wheelchair exports amounted to $X in 2018. Overall, wheelchair exports continue to indicate a dramatic decline. The pace of growth was the most pronounced in 2012 when exports increased by X% y-o-y. Over the period under review, wheelchair exports attained their maximum at $X in 2013; however, from 2014 to 2018, exports stood at a somewhat lower figure.

Exports by Country

China dominates wheelchair exports structure, reaching X units, which was near X% of total exports in 2018. Taiwan, Chinese (X units), Germany (X units), the UK (X units), Mexico (X units), India (X units), the Netherlands (X units) and the U.S. (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +X% from 2007 to 2018. At the same time, India (+X%), the UK (+X%), the Netherlands (+X%), Germany (+X%) and the U.S. (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Taiwan, Chinese experienced a relatively flat trend pattern. By contrast, Mexico (-X%) illustrated a downward trend over the same period. While the share of China (+X p.p.), the UK (+X p.p.) and India (+X p.p.) increased significantly in terms of the global exports from 2007-2018, the share of Mexico (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wheelchair supplier from Latvia, comprising X% of global exports. The second position in the ranking was occupied by Germany ($X), with a X% share of global exports. It was followed by Taiwan, Chinese, with a X% share.

From 2007 to 2018, the average annual growth rate of value in China stood at +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+X% per year) and Taiwan, Chinese (+X% per year).

Export Prices by Country

In 2018, the wheelchair export price in Latvia amounted to $X per unit, reducing by -X% against the previous year. Overall, the wheelchair export price continues to indicate a deep drop. The most prominent rate of growth was recorded in 2012 when the export price increased by X% year-to-year. Over the period under review, the export prices for wheelchairs reached their maximum at $X per unit in 2013; however, from 2014 to 2018, export prices remained at a lower figure.

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

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

Wheelchair Imports

Imports into Latvia

Wheelchair imports into Latvia stood at X units in 2018, falling by -X% against the previous year. In general, wheelchair imports, however, continue to indicate an extraordinary increase. The growth pace was the most rapid in 2008 when imports increased by X% y-o-y. Over the period under review, wheelchair imports reached their peak figure at X units in 2017, and then declined slightly in the following year.

In value terms, wheelchair imports stood at $X in 2018. Over the period under review, wheelchair imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2008 when imports increased by X% year-to-year. Over the period under review, wheelchair imports reached their maximum in 2018 and are expected to retain its growth in the immediate term.

Imports by Country

The U.S. (X units) and the UK (X units) represented the key importers of wheelchairs in 2018, resulting at near X% and X% of total imports, respectively. It was distantly followed by Germany (X units), committing a X% share of total imports. India (X units), Mexico (X units), Italy (X units), Russia (X units), Taiwan, Chinese (X units), France (X units), the Netherlands (X units), Canada (X units) and Malaysia (X units) held a little share of total imports.

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

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

In the U.S., wheelchair imports remained relatively stable over the period from 2007-2018. In the other countries, the average annual rates were as follows: the UK (+X% per year) and France (+X% per year).

Import Prices by Country

In 2018, the wheelchair import price in Latvia amounted to $X per unit, picking up by X% against the previous year. In general, the wheelchair import price, however, continues to indicate a temperate setback. The most prominent rate of growth was recorded in 2014 an increase of X% y-o-y. Latvia import price peaked at $X per unit in 2008; however, from 2009 to 2018, import prices failed to regain their momentum.

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

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

Source: IndexBox Platform