Report Update: May 1, 2024

Thailand - Electrical Musical Or Keyboard Instruments - Market Analysis, Forecast, Size, Trends And Insights

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Electrical Musical Instrument Price in Thailand - 2023

Electrical Musical Instrument Price in Thailand (CIF) - 2022

The average electrical musical instrument import price stood at $183 per unit in 2022, picking up by 63% against the previous year. Over the period under review, the import price recorded resilient growth. As a result, import 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 importers, the country with the highest price was the United States ($830 per unit), while the price for China ($99 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Electrical Musical Instrument Price in Thailand (FOB) - 2022

The average electrical musical instrument export price stood at $173 per unit in 2022, increasing by 19% against the previous year. Over the period under review, the export price recorded a pronounced increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 569%. The export price peaked at $251 per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($497 per unit), while the average price for exports to Nepal ($18 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+23.2%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Musical Instrument Imports in Thailand

In 2022, supplies from abroad of electrical musical or keyboard instruments decreased by -43.2% to 82K units, falling for the second consecutive year after two years of growth. In general, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 15%. As a result, imports reached the peak of 174K units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, electrical musical instrument imports contracted to $15M in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2020 when imports increased by 17% against the previous year. Over the period under review, imports attained the peak figure at $16M in 2021, and then reduced in the following year.

Import of Electrical Musical Instrument in Thailand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	5.7	7.9	7.5	5.7	0.0%
Indonesia	3.2	3.3	3.6	3.6	4.0%
United States	2.4	2.1	2.1	2.8	5.3%
Malaysia	0.9	1.0	1.3	1.3	13.0%
Japan	0.6	0.7	0.9	0.6	0.0%
Others	0.8	0.8	0.7	0.9	4.0%
Total	13.5	15.8	16.2	14.9	3.3%

Top Suppliers of Electrical Musical Instrument to Thailand in 2022:

China (57.6K units)
Indonesia (11.7K units)
United States (3.4K units)
Japan (3.4K units)
Malaysia (2.4K units)

Electrical Musical Instrument Exports in Thailand

In 2022, after three years of growth, there was significant decline in overseas shipments of electrical musical or keyboard instruments, when their volume decreased by -47% to 1.8K units. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 123%. The exports peaked at 3.5K units in 2021, and then dropped sharply in the following year.

In value terms, electrical musical instrument exports fell sharply to $318K in 2022. In general, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 94%. The exports peaked at $502K in 2021, and then shrank remarkably in the following year.

Export of Electrical Musical Instrument in Thailand (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Hong Kong SAR	71.6	139	256	154	29.1%
United States	15.6	59.8	57.4	58.6	55.5%
Singapore	4.8	29.0	28.8	13.6	41.5%
Canada	0.5	0.6	18.6	12.4	191.6%
South Korea	13.0	13.8	7.4	8.3	-13.9%
Lao People's Democratic Republic	12.4	11.0	3.0	6.3	-20.2%
Italy	N/A	0.3	1.8	5.3	320.3%
India	0.2	1.1	0.6	3.9	169.2%
Nepal	N/A	N/A	0.1	2.3	2200.0%
Germany	6.4	0.9	43.9	2.0	-32.1%
Myanmar	2.3	8.8	1.8	0.2	-55.7%
Others	36.0	52.2	82.3	51.2	12.5%
Total	163	316	502	318	25.0%

Top Export Markets for Electrical Musical Instrument from Thailand in 2022:

Hong Kong SAR (811.0 units)
United States (440.0 units)
Nepal (129.0 units)
Canada (68.0 units)
India (51.0 units)
Singapore (45.0 units)
Lao People's Democratic Republic (42.0 units)
South Korea (38.0 units)
Italy (35.0 units)
Germany (4.0 units)
Myanmar (2.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the electrical musical instrument market in Thailand. 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 32201400 - Musical or keyboard instruments, the sound of which is produced, or must be amplified, electrically

Country coverage:

Thailand

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Thailand
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023