World - Acoustic New Upright Pianos - Market Analysis, Forecast, Size, Trends And Insights
Global Upright Piano Market 2019 - Key Insights
IndexBox has just published a new report, the World - Acoustic New Upright Pianos - Market Analysis, Forecast, Size, Trends And Insights. Here is a summary of the report's key findings.
The global upright piano market revenue amounted to $352M in 2017, growing by 4.2% 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). In general, upright piano consumption continues to indicate a drastic reduction. The pace of growth was the most pronounced in 2012, when it surged by 25% against the previous year. Over the period under review, the global upright piano market attained its maximum level of $689M in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.
In 2017, approx. 212K units of acoustic new upright pianos were exported worldwide; declining by -5.7% against the previous year. Overall, upright piano exports continue to indicate a relatively flat trend pattern.
In value terms, upright piano exports amounted to $388M (IndexBox estimates) in 2017.
Exports by Country
Japan represented the major exporting country with an export of about 97K units, which resulted at 46% of total exports. Indonesia (49K units) occupied the second position in the ranking, distantly followed by Germany (23K units) and China (16K units). All these countries together held near 42% share of total exports. Malaysia (4.1K units) followed a long way behind the leaders.
From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Indonesia (+6.1% per year), while the other global leaders experienced more modest paces of growth.
In value terms, the largest upright piano markets worldwide were Japan ($171M), Indonesia ($87M) and Germany ($45M), together accounting for 78% of global exports. China and Malaysia lagged somewhat behind, together accounting for a further 9.5%.
Export Prices by Country
The average upright piano export price stood at $1.8 thousand per unit in 2017, coming up by 6.3% against the previous year. In general, upright piano export price continues to indicate a relatively flat trend pattern.
Average export prices varied noticeably amongst the major exporting countries. In 2017, major exporting countries recorded the following export prices: in Germany ($2 thousand per unit) and Malaysia ($1.9 thousand per unit), while Japan ($1.8 thousand per unit) and Indonesia ($1.8 thousand per unit) were amongst the lowest.
From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by China (+5.6% per year), while the other global leaders experienced mixed trends in the export price figures.
In 2017, approx. 178K units of acoustic new upright pianos were imported worldwide; shrinking by -34% against the previous year.
In value terms, upright piano imports totaled $390M (IndexBox estimates) in 2017.
Imports by Country
China represented the major importing country with an import of around 59K units, which reached 33% of total imports. The U.S. (20K units) occupied the second position in the ranking, followed by Germany (12K units). All these countries together took near 18% share of total imports. Malaysia (7.4K units), France (6.6K units), Australia (6K units), Singapore (5.2K units), Japan (4.3K units), the UK (4.3K units), Canada (4.2K units), Switzerland (4.1K units) and Viet Nam (3.7K units) followed a long way behind the leaders.
China was also the fastest growing in terms of the acoustic new upright pianos imports, with a CAGR of +17.8% from 2007 to 2017. At the same time, Viet Nam (+9.4%) and Malaysia (+3.0%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. By contrast, Switzerland (-2.5%), Japan (-2.7%), Australia (-3.5%), the U.S. (-4.0%), Germany (-4.1%), the UK (-5.6%), Canada (-7.0%) and France (-7.4%) illustrated a downward trend over the same period. From 2007 to 2017, the share of the U.S., France, Germany, Canada and the UK increased by 5.6%, 4.2%, 3.5%, 2.5% and 1.9% percentage points, while China (-26.5%) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($136M) constitutes the largest market for imported acoustic new upright pianos worldwide, making up 35% of global imports. The second position in the ranking was occupied by the U.S. ($46M), with a 12% share of global imports. It was followed by Germany, with a 7.6% share.
Import Prices by Country
In 2017, the average upright piano import price amounted to $2.2 thousand per unit, growing by 52% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%.
Import prices varied noticeably by the country of destination; the country with the highest import price was Australia ($2.6 thousand per unit), while Singapore ($1.2 thousand per unit) was amongst the lowest.
From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Australia (+4.5% per year), while the other global leaders experienced more modest paces of growth.
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global upright piano market. 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 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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