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Bearing & Gear Manufacturing in Latvia - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

LV-C2814 August 2024 Factsheet

Revenue

€13.7m

2019-2024 3.0 %
2024-2029 X.X %

Employees

177

2019-2024 6.7 %
2024-2029 X.X %

Businesses

2

2019-2024 0.0 %
2024-2029 X.X %

Wages

€X.Xm

2019-2024 X.X %
2024-2029 X.X %

Bearing & Gear Manufacturing in Latvia market size outlook

Total value and annual change from from 2014-2029. Includes 5-year outlook.

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About Factsheets

Industry Statistics and Rankings

How does this industry perform in Latvia compared to Europe?

Country Benchmarking

Industry Data Latvia

Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.

Revenue
#28 In Europe
Business
#27 In Europe
Employees
#27 In Europe
Wages
#28 In Europe

View industry report for Europe

Bearing and gear manufacturing companies produce various products, including bearings, gearboxes, clutches and transmission shafts. Manufacturers rely on export revenue, leaving them susceptible to input inflation and exchange rate movements. Similarly, the development of the downstream automotive industry plays a central role in dictating the order volume of mechanical drive elements and various bearings. Outside motor vehicle manufacturers, bearings and gearboxes supply industrial equipment manufacturers, including lifting and handling equipment and agricultural machinery manufacturers. Germany comprises the largest share of industry revenue.

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Enterprises
Number of businesses in 2024

Biggest companies in the Bearing & Gear Manufacturing in Latvia

Company
Market Share (%)
2024
Revenue (€m)
2024
Profit (€m)
2024
Profit Margin (%)
2024

There are no companies that hold a large enough market share in the Bearing & Gear Manufacturing in Latvia industry for IBISWorld to include in this product.

Top Questions Answered in this Report

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What is the market size of the Bearing & Gear Manufacturing industry in Latvia in 2024?

The market size of the Bearing & Gear Manufacturing industry in Latvia is €13.7m in 2024.

How many businesses are there in the Bearing & Gear Manufacturing in Latvia industry in 2024?

There are 2 businesses in the Bearing & Gear Manufacturing industry in Latvia, which has declined at a CAGR of 0.0 % between 2019 and 2024.

Has the Bearing & Gear Manufacturing industry in Latvia grown or declined over the past 5 years?

The market size of the Bearing & Gear Manufacturing industry in Latvia has been growing at a CAGR of 3.0 % between 2019 and 2024.

What is the forecast growth of the Bearing & Gear Manufacturing industry in Latvia over the next 5 years?

Over the next five years, the Bearing & Gear Manufacturing industry in Latvia is expected to grow.

What does the Bearing & Gear Manufacturing in Latvia include?

Gearbox and Bearing & bearing housing are part of the Bearing & Gear Manufacturing industry.

How competitive is the Bearing & Gear Manufacturing industry in Latvia?

The level of competition is moderate and steady in the Bearing & Gear Manufacturing industry in Latvia.

Related Industries

This industry is covered in 37 countries

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Table of Contents

About this industry

Industry definition

Companies in this industry manufacture gearboxes, roller and ball bearings, gears, chains, clutches, flywheels, pulleys, parts of bearings and gears and other mechanical drive elements used in motor vehicles, machinery, equipment and devices.

Related Terms

BEARINGROLLER BEARINGGEARBALL BEARING

What's included in this industry?

GearboxBearing & bearing housingBearing and gear partsCranks and crankshaftsOther mechanical drive elements

Companies

Industry Code

ISIC 2006

2814 - Manufacture of bearings, gears, gearing and driving elements in Latvia

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Performance

Revenue Highlights

Trends
  • Revenue
  • 2024 Revenue CAGR
  • Revenue Volatility

Employment Highlights

Trends
  • Employees
  • Employees per Business
  • Revenue per Employee

Business Highlights

Trends
  • Businesses
  • Employees per Business
  • Revenue per Business

Profit Highlights

Trends
  • Total Profit
  • Profit Margin
  • Profit per Business

Current Performance

Charts
  • Revenue
  • Employees
  • Business
  • Profit
Analysis

What's driving current industry performance in the Bearing & Gear Manufacturing in Latvia industry?


Outlook

Analysis

What's driving the Bearing & Gear Manufacturing in Latvia industry outlook?


Volatility

Analysis

What influences volatility in the Bearing & Gear Manufacturing in Latvia industry?

Charts
  • Industry Volatility vs. Revenue Growth Matrix

Life Cycle

Analysis

What determines the industry life cycle stage in the Bearing & Gear Manufacturing in Latvia industry?

Charts
  • Industry Life Cycle Matrix

Products and Markets

Highlights

Trends
  • Largest Market
  • Product Innovation

Key Takeaways

Bearing & bearing housing sales suffer from low industrial production volumes. According to the European Commission, industrial production in the Euro area tumbled by 6.6% over the years through October 2023, weighing on downstream demand for bearings.

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Products and Services

Charts
  • Products and Services Segmentation
Analysis

How are the Bearing & Gear Manufacturing in Latvia industry's products and services performing?

Analysis

What are innovations in the Bearing & Gear Manufacturing in Latvia industry's products and services?


Major Markets

Charts
  • Major Market Segmentation
Analysis

What influences demand in the Bearing & Gear Manufacturing in Latvia industry?


International Trade

Highlights

  • Total Imports into Latvia
  • Total Exports into Latvia
Heat maps
  • Industry Concentration of Imports by Country
  • Industry Concentration of Exports by Country
Data Tables

Value and annual change (%) included

  • Number of Imports and Exports by European Country (2024)

Competitive Forces

Highlights

Trends
  • Concentration
  • Competition
  • Barriers to Entry
  • Substitutes
  • Buyer Power
  • Supplier Power

Key Takeaways

A handful of manufacturers hold a slice of market share. A degree of market saturation has begun to occur where manufacturers can only achieve growth via acquisitions, while intense import competition restricts growth prospects for SMEs.

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Supply Chain

Charts

Buyer and supply industries

Geographic Breakdown

Business Locations

Heat maps
  • Share of Total Industry Establishments by Region (2024)
Data Tables
  • Number of Establishments by Region (2024)
Charts
  • Share of Establishments vs. Population of Each Region
Analysis

What regions are businesses in the Bearing & Gear Manufacturing in Latvia located?

Companies

Data Tables

Top 0 companies by market share:

  • Market share (2024)
  • Revenue (2024)
  • Profit (2024)
  • Profit margin (2024)

External Environment

Highlights

Trends
  • Regulation & Policy
  • Assistance

Key Takeaways

Manufacturers must comply with a handful of EU and European regulations. Bearing and gear manufacturers must abide by the Machinery Directive (2006/42/EC), the Occupational Health and Safety Act and Ordinance and the EU General Product Safety Regulation (GPSR).

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External Drivers

Analysis

What demographic and macroeconomic factors impact the Bearing & Gear Manufacturing in Latvia industry?

Financial Benchmarks

Highlights

Trends
  • Profit Margin
  • Average Wage
  • Largest Cost

Key Takeaways

Profitability has edged downward since the onset of the pandemic. Over 2021 and 2022, supply chain bottles drove up raw material prices, while the Russian-Ukraine conflict pushed up transportation and logistics costs, weighing on probability.

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Cost Structure

Charts
  • Share of Economy vs. Investment Matrix
  • Industry Cost Structure Benchmarks:
    • Marketing
    • Depreciation
    • Profit
    • Purchases
    • Wages
    • Rent
    • Utilities
    • Other
Analysis

What trends impact cost in the Bearing & Gear Manufacturing in Latvia industry?


Key Ratios

Data tables
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)
  • Revenue per Employee (2014-2029)
  • Wages/Revenue (2014-2029)
  • Employees per Establishment (2014-2029)
  • Average Wage (2014-2029)

Country Benchmarks

European Leaders & Laggards

Data Tables

Top and boottom five countries listed for each:

  • Revenue Growth (2024)
  • Business Growth (2024)
  • Job Growth (2024)

European Country Performance

Data Tables

Rankings available for 37 countries. Statistics ranked include:

  • IVA/Revenue (2024)
  • Imports/Demand (2024)
  • Exports/Revenue (2024)
  • Revenue per Employee (2024)
  • Wages/Revenue (2024)
  • Employees per Establishment (2024)
  • Average Wage (2024)

Structural Comparison

Data Tables

Trends in 37 countries benchmarked against trends in Europe

  • Concentration
  • Competition
  • Barriers to Entry
  • Buyer Power
  • Supplier Power
  • Volatility
  • Capital Intensity
  • Innovation
  • Life Cycle

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2014-2029)
  • IVA (2014-2029)
  • Establishments (2014-2029)
  • Enterprises (2014-2029)
  • Employment (2014-2029)
  • Exports (2014-2029)
  • Imports (2014-2029)
  • Wages (2014-2029)

Methodology

Where does IBISWorld source its data?

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.