Global Piano Market 2024

Piano Market Size

The global piano market was estimated at $X in 2022, growing by X% against the previous year. In general, consumption showed a mild decrease. Over the period under review, the global market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Piano Production

In value terms, piano production stood at $X in 2022 estimated in export price. In general, production, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, global production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Piano Exports

Exports

In 2022, overseas shipments of pianos and other keyboard stringed musical instruments increased by X% to X units, rising for the second consecutive year after four years of decline. Overall, exports, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the global exports failed to regain momentum.

In value terms, piano exports dropped slightly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then dropped modestly in the following year.

Exports by Country

In 2022, Japan (X units), distantly followed by Indonesia (X units), China (X units), Germany (X units) and the United Arab Emirates (X units) represented the major exporters of pianos and other keyboard stringed musical instruments, together mixing up X% of total exports. The Philippines (X units), the Netherlands (X units), the United States (X units), the Czech Republic (X units), Hong Kong SAR (X units), the UK (X units) and Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest piano supplying countries worldwide were Japan ($X), Germany ($X) and Indonesia ($X), together comprising X% of global exports. China, the United States, the Czech Republic, the United Arab Emirates, the Netherlands, Malaysia, the UK, Hong Kong SAR and the Philippines lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, the Philippines, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average piano export price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period under review, the export price, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. The global export price peaked at $X per unit in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

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

Piano Imports

Imports

In 2022, the amount of pianos and other keyboard stringed musical instruments imported worldwide declined to X units, with a decrease of X% compared with 2021 figures. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then contracted in the following year.

In value terms, piano imports declined modestly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

China was the key importer of pianos and other keyboard stringed musical instruments in the world, with the volume of imports accounting for X units, which was approx. X% of total imports in 2022. The United States (X units) held the second position in the ranking, followed by Germany (X units). All these countries together held near X% share of total imports. The United Arab Emirates (X units), the UK (X units), the Netherlands (X units), Australia (X units), the Philippines (X units), Thailand (X units), Canada (X units), Malaysia (X units), France (X units) and Japan (X units) followed a long way behind the leaders.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%), the Philippines (X%), the Netherlands (X%), Thailand (X%), the UK (X%) and Australia (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Canada (X%), Germany (X%), Japan (X%), France (X%) and Malaysia (X%) illustrated a downward trend over the same period. China (X p.p.), the United Arab Emirates (X p.p.), the Philippines (X p.p.) and the Netherlands (X p.p.) significantly strengthened its position in terms of the global imports, while Malaysia and Germany saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), the United States ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of global imports. Canada, Australia, the UK, France, the United Arab Emirates, Japan, the Netherlands, Malaysia, Thailand and the Philippines lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average piano import price stood at $X per unit in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Canada ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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