The Motor Vehicles Clutches and Motor Vehicle Clutches Parts market in Latvia reached a value of 28.854 million USD in 2023. Observed trends indicate fluctuating growth, with notable peaks in 2016 and 2021 followed by declines in 2018 and 2020. Over the past two years, the market saw modest year-on-year increases, particularly a 3.22% rise in 2023. The five-year CAGR demonstrates an average annual growth rate of 4.31%.
Future trends to watch include:
- Increasing demand for electric vehicles, potentially affecting clutch demand.
- Technological advancements leading to improvements in clutch materials and durability.
- Potential economic shifts impacting consumer purchasing power and automotive sales.
How does Latvia rank in Motor Vehicles Clutches and Motor Vehicle Clutches Parts Market Size Value?
| # | 56 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 14,279,000,000 | 2023 | +1.67% | +1.46% | View data |
| 2 | 2 China | 6,050,400,000 | 2023 | +2.89% | +2% | View data |
| 3 | 3 Germany | 4,636,400,000 | 2023 | +1.94% | +1.85% | View data |
| 4 | 4 Japan | 3,361,100,000 | 2023 | -1.36% | -0.94% | View data |
| 5 | 5 France | 2,358,600,000 | 2023 | +0.74% | +0.82% | View data |
| 35 | 35 Uruguay | 30,911,000 | 2023 | +1.64% | +0.82% | View data |
| 36 | 36 Costa Rica | 28,864,000 | 2023 | +1.26% | +1.57% | View data |
| 37 | 37 Latvia | 28,854,000 | 2023 | +3.22% | +4.31% | |
| 38 | 38 Paraguay | 24,633,000 | 2023 | +0.11% | -0.16% | View data |
| 39 | 39 Ireland | 21,571,000 | 2023 | -3.82% | -2.22% | View data |
