Piano Market - Germany Displays Highest Rates of EU Piano Production and Exports

Musical instruments January 31, 2016
Author: Alla Yakimova
Market Analyst

piano market

From 2007 to 2014, EU production on the piano market stringed musical instruments showed mixed dynamics, ultimately falling from 15.4 thousand units in 2007 to 12.6 thousand units in 2014. It dropped with a CAGR of -2.8% over the period under review. In value terms, EU production of pianos and similar instruments decreased to 142 million EUR in 2014, falling by -2.3% annually.

Germany was the largest producer of pianos and similar instruments in value terms, with 102 million EUR. It was followed by Estonia (2.1 million EUR). From 2007 to 2014, Germany showed negative dynamics (-0.7% per year).

Germany dominated in EU piano production and trade. In 2014, it exported the lion's share of its total piano output. Of this amount, 9% was supplied to France, where Germany's pianos and other keyboard stringed musical instruments held a 43% share of total French imports.

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Source: EU: Pianos And Other Keyboard Stringed Musical Instruments - Market Report. Analysis And Forecast To 2020