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
#33 In EuropeBusiness
#27 In EuropeEmployees
#29 In EuropeWages
#33 In EuropeRepairs of personal and household goods are sensitive to various economic factors. Typically, consumers will postpone new purchases if they expect the economy to worsen or their incomes to shrink, trading down to repair services to save money. The total private consumption expenditure of households is a good indicator of demand; higher spending suggests consumers are buying new appliances instead of repairing old ones, cutting into the need for repairs. However, this does create a bigger potential market for repair services further down the line. Over the five years through 2024, revenue is expected to dip at a compound annual rate of 6.6% to €17.1 billion.
Enterprises
Number of businesses in 2024
Biggest companies in the Personal & Household Goods Repair 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 Personal & Household Goods Repair 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 Personal & Household Goods Repair industry in Latvia in 2024?
The market size of the Personal & Household Goods Repair industry in Latvia is €13.7m in 2024.
How many businesses are there in the Personal & Household Goods Repair in Latvia industry in 2024?
There are 656 businesses in the Personal & Household Goods Repair industry in Latvia, which has declined at a CAGR of 1.3 % between 2019 and 2024.
Has the Personal & Household Goods Repair industry in Latvia grown or declined over the past 5 years?
The market size of the Personal & Household Goods Repair industry in Latvia has been declining at a CAGR of 6.0 % between 2019 and 2024.
What is the forecast growth of the Personal & Household Goods Repair industry in Latvia over the next 5 years?
Over the next five years, the Personal & Household Goods Repair industry in Latvia is expected to decline.
What does the Personal & Household Goods Repair in Latvia include?
Repairing white goods and Repairing garden equipment are part of the Personal & Household Goods Repair industry.
How competitive is the Personal & Household Goods Repair industry in Latvia?
The level of competition is moderate and steady in the Personal & Household Goods Repair industry in Latvia.
Related Industries
This industry is covered in 37 countries
Domestic industries
Competitors
- Fabricated Metal Product Repair in Latvia
- Industrial Machinery & Equipment Installation in Latvia
- Household Textiles, Hardware, Carpets, Appliance & Furniture Retailers in Latvia
Complementors
- Home Textile & Soft Furnishing Manufacturing in Latvia
- Electrical Household Appliance Manufacturing in Latvia
Table of Contents
About this industry
Industry definition
The industry encompasses the repair of consumer electrics, household appliances and garden equipment, footwear and leather goods, furniture and home furnishings and other personal items, including the restoration of bikes, clothing, watches, clocks and piano tuning. Examples of consumer electronics are TVs, radios and video cameras, while household appliances and garden equipment include refrigerators, washing machines and lawnmowers.
Related Terms
LARGE HOUSEHOLD APPLIANCESSMALL HOUSEHOLD APPLIANCESSMART DEVICESREPAIR CAFE/MEETINGWhat's included in this industry?
Repairing white goodsRepairing garden equipmentRepairing brown goodsOther repairs and selling of spare partsCompanies
Industry Code
952 - Repair of personal and household goods 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 Personal & Household Goods Repair in Latvia industry?
Outlook
Analysis
What's driving the Personal & Household Goods Repair in Latvia industry outlook?
Volatility
Analysis
What influences volatility in the Personal & Household Goods Repair in Latvia industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Personal & Household Goods Repair in Latvia industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
New EU legislation elevates interest in repairing white goods. The EU’s Right to Repair regulations aim to encourage more sustainable consumption by making it easier to repair defective goods by encouraging manufacturers to make spare parts.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Personal & Household Goods Repair in Latvia industry's products and services performing?
Analysis
What are innovations in the Personal & Household Goods Repair in Latvia industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Personal & Household Goods Repair 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
Mirco enterprises dominate the market. The industry is highly fragmented and small repair companies cater to specific repair segments. With many specialised companies serving different niches, no single company can dominate the market.
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 Personal & Household Goods Repair 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
The EU supports the industry through regulations. In March 2023, the European Commission announced the establishment of the “right to repair” regulations, requiring manufacturers of longer-lasting appliances to produce spare parts.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Personal & Household Goods Repair in Latvia industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Profit succumbs to intense price competition. Profit has remained subdued thanks to increasing competition from repair cafes, DIY activity and in-house manufacturer repair services weighing on prices.
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 Personal & Household Goods Repair 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.
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