The market for motor vehicle mufflers and exhaust pipes in Latvia has experienced fluctuations over the past decade. Since 2013, there has been a declining trend, from $8.03 per capita down to $6.24 in 2023. Recent years have shown slight recovery, with current levels slightly rebounding from the 2020 low point of $5.31. Year-on-year changes between 2022 and 2023 reflect minor declines, whereas the Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) shows a shrinking market on average.
Future trends to watch for:
- Increasing adoption of electric vehicles may impact demand for traditional exhaust components.
- Advancements in emissions technology could alter market needs.
- Potential economic fluctuations in the automotive sector may influence consumer spending on vehicle maintenance.
| # | 21 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 46.11 | 2023 | View data | ||
| 2 | 2 Belgium | 34.09 | 2023 | View data | ||
| 3 | 3 United Kingdom | 32.77 | 2023 | View data | ||
| 4 | 4 France | 31.56 | 2023 | View data | ||
| 5 | 5 Denmark | 17.72 | 2023 | View data | ||
| 10 | 10 Iceland | 8.49 | 2023 | View data | ||
| 11 | 11 Switzerland | 6.52 | 2023 | View data | ||
| 12 | 12 Latvia | 6.24 | 2023 | |||
| 13 | 13 New Zealand | 5.14 | 2023 | View data | ||
| 14 | 14 Moldova | 0.75 | 2023 | View data | ||
