Market Size for Lightning Arresters, Voltage Limiters and Surge Suppressors for over 1000 V in Latvia - 2022
Lightning Arresters, Voltage Limiters and Surge Suppressors for over 1000 V Consumption in Latvia - 2022
In 2022, consumption of lightning arresters, voltage limiters and surge suppressors for over 1000 v increased by 5.4% to 323K units, rising for the second year in a row after three years of decline. In general, the total consumption indicated a strong expansion from 2017 to 2022: its volume increased at an average annual rate of +5.4% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +93.8% against 2020 indices. Over the period under review, consumption of hit record highs in 2022 and is likely to see gradual growth in the near future.
The value of the market for lightning arresters, voltage limiters and surge suppressors for over 1000 v in Latvia soared to $1.2M in 2022, picking up by 23% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers margins, which will be included in the final consumer price). Overall, the total consumption indicated a prominent expansion from 2017 to 2022: its value increased at an average annual rate of +5.4% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +88.6% against 2020 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the immediate term.
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