Latvia: Vehicle Seat Market 2024

Vehicle Seat Market Size in Latvia

The Latvian vehicle seat market dropped to $X in 2023, with a decrease of X% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2023, the growth of the market failed to regain momentum.

Vehicle Seat Production in Latvia

In value terms, vehicle seat production shrank to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Vehicle seat production peaked at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

Vehicle Seat Exports

Exports from Latvia

In 2023, vehicle seat exports from Latvia surged to X units, growing by X% on 2022 figures. Overall, exports continue to indicate moderate growth. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

In value terms, vehicle seat exports soared to $X in 2023. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Lithuania (X units), Estonia (X units) and Kazakhstan (X units) were the main destinations of vehicle seat exports from Latvia, together accounting for X% of total exports. Kyrgyzstan, the Netherlands, Ukraine and Azerbaijan lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Kyrgyzstan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Estonia ($X) and the Netherlands ($X) were the largest markets for vehicle seat exported from Latvia worldwide, with a combined X% share of total exports. Kyrgyzstan, Kazakhstan, Azerbaijan and Ukraine lagged somewhat behind, together comprising a further X%.

Kyrgyzstan, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average vehicle seat export price amounted to $X per unit, picking up by X% against the previous year. In general, the export price, however, showed a slight decline. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2017; however, from 2018 to 2023, the export prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vehicle Seat Imports

Imports into Latvia

In 2023, overseas purchases of seats for motor vehicles increased by X% to X units, rising for the third consecutive year after two years of decline. Over the period under review, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in years to come.

In value terms, vehicle seat imports skyrocketed to $X in 2023. Overall, imports saw a prominent increase. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked in 2023 and are likely to see gradual growth in the near future.

Imports by Country

Lithuania (X units), Turkey (X units) and the UK (X units) were the main suppliers of vehicle seat imports to Latvia, together comprising X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Turkey ($X) and the UK ($X) appeared to be the largest vehicle seat suppliers to Latvia, with a combined X% share of total imports.

Among the main suppliers, the UK, with a CAGR of X%, recorded 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

In 2023, the average vehicle seat import price amounted to $X per unit, rising by X% against the previous year. In general, import price indicated a mild increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, vehicle seat import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Estonia ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Estonia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform