China - Pianos And Other Keyboard Stringed Musical Instruments - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPiano Price in China Plummets 15% to $1,415 per Unit After Three Consecutive Months of Decline
China Piano Import Price in April 2023
In April 2023, the piano price amounted to $1,415 per unit (CIF, China), shrinking by -15.3% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 34% month-to-month. As a result, import price attained the peak level of $2.5M per thousand units. From February 2023 to April 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In April 2023, the country with the highest price was Indonesia ($2,957 per unit), while the price for South Korea ($173 per unit) was amongst the lowest.
From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+0.7%), while the prices for the other major suppliers experienced a decline.
| COUNTRY | Import Price of Piano in China (USD per unit) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | |
| Indonesia | 2,722 | 3,198 | 3,221 | 2,814 | 3,191 | 3,972 | 3,229 | 3,554 | 3,187 | 3,423 | 3,412 | 3,205 | 2,957 |
| Japan | 1,696 | 1,326 | 1,394 | 1,219 | 1,623 | 1,732 | 1,547 | 1,795 | 1,770 | 1,985 | 1,911 | 1,893 | 1,636 |
| South Korea | 229 | 195 | 232 | 212 | 205 | 182 | 160 | 202 | 175 | 233 | 157 | 212 | 173 |
| Average | 1,370 | 1,676 | 1,663 | 1,513 | 1,574 | 1,593 | 1,599 | 1,997 | 1,874 | 2,508 | 1,767 | 1,671 | 1,415 |
China Piano Import Prices by Type
Prices varied noticeably by the product type; the product with the highest price was acoustic grand pianos ($9,758 per unit), while the price for acoustic new upright pianos ($868 per unit) was amongst the lowest.
From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by keyboard stringed instrument (+6.2%), while the prices for the other products experienced more modest paces of growth.
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China Piano Imports
In April 2023, supplies from abroad of pianos and other keyboard stringed musical instruments decreased by -18.6% to 11K units for the first time since January 2023, thus ending a two-month rising trend. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in March 2023 when imports increased by 64% month-to-month. Imports peaked at 16K units in July 2022; however, from August 2022 to April 2023, imports remained at a lower figure.
In value terms, piano imports contracted significantly to $15M (IndexBox estimates) in April 2023. In general, total imports indicated a modest expansion from April 2022 to April 2023: its value increased at an average monthly rate of +1.1% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on April 2023 figures, imports increased by +10.8% against January 2023 indices. The most prominent rate of growth was recorded in March 2023 when imports increased by 55% against the previous month. Over the period under review, imports reached the maximum at 24M units in July 2022; however, from August 2022 to April 2023, imports remained at a lower figure.
China Piano Imports by Type
In April 2023, acoustic new upright pianos (9.9K units) was the main type of piano supplied to China, with a 94% share of total imports. Moreover, acoustic new upright pianos exceeded the figures recorded for the second-largest type, acoustic grand pianos (647 units), more than tenfold.
From April 2022 to April 2023, the average monthly growth rate of the volume of import of acoustic new upright pianos was relatively modest. With regard to the other supplied products, the following average monthly rates of growth were recorded: acoustic grand pianos (+0.6% per month) and keyboard stringed instruments (-4.7% per month).
In value terms, acoustic new upright pianos ($8.6M), acoustic grand pianos ($6.3M) and keyboard stringed instruments ($60K) appeared to be the most imported types of pianos and other keyboard stringed musical instruments in China, together accounting for 99.9% of total imports. Keyboard stringed instruments lagged somewhat behind, accounting for a further 0%.
China Piano Imports by Country
South Korea (4.8K units), Japan (4.7K units) and Indonesia (940 units) were the main suppliers of piano imports to China, together comprising 98% of total imports.
From April 2022 to April 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +2.3%), while imports for the other leaders experienced mixed trend patterns.
In value terms, Japan ($7.7M) constituted the largest supplier of piano to China, comprising 51% of total imports. The second position in the ranking was taken by Indonesia ($2.8M), with a 19% share of total imports.
From April 2022 to April 2023, the average monthly growth rate of value from Japan stood at +2.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: Indonesia (-0.8% per month) and South Korea (-2.2% per month).
This report provides an in-depth analysis of the piano market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 32201110 - Acoustic new upright pianos (including automatic pianos)
- Prodcom 32201130 - Acoustic grand pianos (including automatic pianos)
- Prodcom 32201150 - Keyboard stringed instruments (including harpsichords, s pinets and clavichords)
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
