Keyboards Market

The keyboards market is expected to see a decrease in consumption and performance over the next eight years, with a projected CAGR of -0.8% in volume and +2.0% in value. China leads in both consumption and production, while the United States dominates imports and exports. Singapore, the Netherlands, and Germany also play significant roles in the global keyboards market. Keyboards consumption, production, import, and export data from 2012 to 2022 are analyzed to provide insights into global trends and growth patterns in the industry.

Market Forecast

The keyboards market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -0.8% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 1B units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market value to $36.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Keyboards

In 2022, the amount of keyboards consumed worldwide soared to 1.1B units, jumping by 25% compared with the previous year. The total consumption volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The global keyboards market revenue rose notably to $31B in 2022, with an increase of 7.5% 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). The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2022 and is expected to retain growth in the near future.

Consumption By Country

The country with the largest volume of keyboards consumption was China (269M units), comprising approx. 25% of total volume. Moreover, keyboards consumption in China exceeded the figures recorded by the second-largest consumer, the United States (110M units), twofold. Singapore (88M units) ranked third in terms of total consumption with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +7.8%. In the other countries, the average annual rates were as follows: the United States (+2.2% per year) and Singapore (+4.8% per year).

In value terms, the largest keyboards markets worldwide were China ($3.3B), the United States ($3.2B) and Indonesia ($3B), together accounting for 31% of the global market. Singapore, the United Arab Emirates, Vietnam, Canada, Russia, Germany, the Philippines, Mexico, Kazakhstan and Brazil lagged somewhat behind, together accounting for a further 26%.

In terms of the main consuming countries, the United Arab Emirates, with a CAGR of +25.4%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of keyboards per capita consumption was registered in Singapore (15 units per person), followed by the United Arab Emirates (4 units per person), Kazakhstan (2.6 units per person) and Canada (0.6 units per person), while the world average per capita consumption of keyboards was estimated at less than 0.1 units per person.

From 2012 to 2022, the average annual rate of growth in terms of the keyboards per capita consumption in Singapore amounted to +3.9%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+29.2% per year) and Kazakhstan (+34.0% per year).

Production

World Production of Keyboards

In 2022, approx. 1B units of keyboards were produced worldwide; remaining stable against the previous year's figure. In general, production recorded a slight downturn. The most prominent rate of growth was recorded in 2019 when the production volume increased by 4.7%. Over the period under review, global production hit record highs at 1.1B units in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, keyboards production contracted to $19.2B in 2022 estimated in export price. Overall, production showed a perceptible contraction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 2.4%. Over the period under review, global production reached the peak level at $27.4B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The country with the largest volume of keyboards production was China (739M units), accounting for 74% of total volume. Moreover, keyboards production in China exceeded the figures recorded by the second-largest producer, Singapore (79M units), ninefold. The third position in this ranking was taken by Taiwan (Chinese) (39M units), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Singapore (+4.6% per year) and Taiwan (Chinese) (-0.9% per year).

Imports

World Imports of Keyboards

In 2022, after four years of growth, there was decline in purchases abroad of keyboards, when their volume decreased by -2.6% to 938M units. Overall, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.0% against 2017 indices. The growth pace was the most rapid in 2020 with an increase of 24% against the previous year. Global imports peaked at 963M units in 2021, and then shrank in the following year.

In value terms, keyboards imports fell to $20.3B in 2022. In general, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.8% against 2017 indices. The pace of growth was the most pronounced in 2020 with an increase of 22%. Global imports peaked at $20.7B in 2021, and then contracted modestly in the following year.

Imports By Country

In 2022, the United States (134M units) and China (101M units) were the key importers of keyboardsin the world, together amounting to approx. 25% of total imports. It was distantly followed by the Netherlands (54M units), Kazakhstan (51M units), Mexico (51M units) and Singapore (50M units), together comprising a 22% share of total imports. The United Arab Emirates (42M units), Hong Kong SAR (40M units), Germany (36M units), Brazil (30M units), Vietnam (26M units), the Czech Republic (21M units) and Poland (19M units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +52.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($3.9B) constitutes the largest market for imported keyboards worldwide, comprising 19% of global imports. The second position in the ranking was held by the Netherlands ($1.5B), with a 7.3% share of global imports. It was followed by Germany, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +3.1%. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+10.9% per year) and Germany (+5.7% per year).

Import Prices By Country

In 2022, the average keyboards import price amounted to $22 per unit, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2016 an increase of 9.4%. Over the period under review, average import prices hit record highs at $23 per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($39 per unit), while Kazakhstan ($0.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+13.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Keyboards

In 2022, after two years of growth, there was significant decline in shipments abroad of keyboards, when their volume decreased by -21.4% to 870M units. Over the period under review, exports recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 20% against the previous year. Over the period under review, the global exports reached the maximum at 1.1B units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, keyboards exports dropped to $17.2B in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 35%. Over the period under review, the global exports hit record highs at $19B in 2021, and then shrank in the following year.

Exports By Country

China dominates exports structure, resulting at 571M units, which was approx. 66% of total exports in 2022. Taiwan (Chinese) (57M units) held a 6.5% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (5.2%), Hong Kong SAR (4.7%) and Singapore (4.7%). The United States (24M units) and Germany (16M units) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -2.2% from 2012 to 2022. At the same time, Singapore (+14.3%), the Netherlands (+11.4%) and Germany (+2.7%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.3% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, the United States (-2.5%) and Hong Kong SAR (-8.3%) illustrated a downward trend over the same period. While the share of the Netherlands (+3.7 p.p.) and Singapore (+3.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Hong Kong SAR (-4.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($7B) remains the largest keyboards supplier worldwide, comprising 41% of global exports. The second position in the ranking was taken by the Netherlands ($1.9B), with an 11% share of global exports. It was followed by the United States, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +1.6%. In the other countries, the average annual rates were as follows: the Netherlands (+13.6% per year) and the United States (+0.0% per year).

Export Prices By Country

The average keyboards export price stood at $20 per unit in 2022, rising by 15% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($55 per unit), while China ($12 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform