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 EuropeBusiness
#27 In EuropeEmployees
#27 In EuropeWages
#28 In EuropeBearing 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.
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
Domestic industries
Competitors
- Motor Vehicle Manufacturing in Latvia
- Motorcycle Manufacturing in Latvia
Complementors
- Rubber Tyre Manufacturing and Repair in Latvia
- Electric Motor, Generator & Transformer Manufacturing in Latvia
- Motor Vehicle Parts & Accessories Manufacturing in Latvia
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 BEARINGWhat's included in this industry?
GearboxBearing & bearing housingBearing and gear partsCranks and crankshaftsOther mechanical drive elementsCompanies
Industry Code
2814 - Manufacture of bearings, gears, gearing and driving elements in Latvia
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Performance
Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- 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.
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.
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).
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.
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.
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