The truck market size in Latvia in 2023 was $130.5 per capita. Over the last year, there was a slight increase of 0.41% from 2022. In the past five years, the compound annual growth rate (CAGR) stands at approximately 3.23%, suggesting a stable upward trend following fluctuations in earlier years. This trend reflects a recovery from a notable decline in 2020. Despite some volatility, the market demonstrates resilience with positive growth momentum.
Future trends to watch include increasing demand for electric and eco-friendly trucks, potential shifts in logistics requirements, and evolving regulations impacting the trucking industry. Market adaptation to new technologies will be essential.
| # | 31 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 614.73 | 2023 | View data | ||
| 2 | 2 Finland | 608.66 | 2023 | View data | ||
| 3 | 3 France | 523.18 | 2023 | View data | ||
| 4 | 4 Denmark | 481.39 | 2023 | View data | ||
| 5 | 5 United Kingdom | 471.25 | 2023 | View data | ||
| 16 | 16 Japan | 159.02 | 2023 | View data | ||
| 17 | 17 Paraguay | 135.45 | 2023 | View data | ||
| 18 | 18 Latvia | 130.5 | 2023 | |||
| 19 | 19 Guatemala | 119.52 | 2023 | View data | ||
| 20 | 20 Slovakia | 115.63 | 2023 | View data | ||
