The Electronic and Electric Wires Market in Latvia experienced fluctuations from 2013 to 2023. In 2023, the market size stood at 53.862 million euros. Notably, after experiencing a decline from 2013 to 2018, the market rebounded markedly in 2019, with a peak growth of 20.56%. From 2018 to 2023, a stable positive compound annual growth rate (CAGR) of 4.59% was observed, although the year-on-year variation showed minor fluctuations in the last two years.
Future trends to watch for include:
- Technological advancements in wire materials and insulation.
- The impact of increased demand for electric vehicles and renewable energy solutions.
- Potential market expansion driven by infrastructure development and smart grid projects.
How does Latvia rank in Electronic and Electric Wires Market Size Value?
| # | 12 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 4,748,500,000 | 2023 | +0.79% | -0.017% | View data |
| 2 | 2 France | 3,493,800,000 | 2023 | -1.06% | -2.07% | View data |
| 3 | 3 United Kingdom | 2,462,200,000 | 2023 | -2.07% | -2.79% | View data |
| 4 | 4 Poland | 1,309,000,000 | 2023 | +1.52% | +1.73% | View data |
| 5 | 5 Finland | 544,110,000 | 2023 | -0.44% | +1.63% | View data |
| 10 | 10 Slovenia | 139,840,000 | 2023 | -4.97% | -3.67% | View data |
| 11 | 11 Estonia | 109,250,000 | 2023 | -0.41% | +0.12% | View data |
| 12 | 12 Latvia | 53,862,000 | 2023 | +0.35% | +4.59% | |
