World - Percussion Musical Instruments - Market Analysis, Forecast, Size, Trends And Insights
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The article delves into the challenges faced by the percussion musical instrument market due to shrinking demand worldwide. Forecasts predict a decline in consumption volume and value, with a contracted performance expected over the next eight years. Notable insights include the highest consuming countries in 2022, trends in production, imports, and exports, as well as significant growth rates in specific countries. Detailed statistics and trends from 2012 to 2022 provide a comprehensive overview of the market dynamics.
Market Forecast
Depressed by shrinking demand for percussion musical instrument worldwide, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -0.4% for the period from 2022 to 2030, which is projected to depress the market volume to 21M units by the end of 2030.
In value terms, the market is forecast to contract with an anticipated CAGR of +1.3% for the period from 2022 to 2030, which is projected to bring the market value to $1.3B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Percussion Musical Instruments
In 2022, global consumption of percussion musical instruments rose significantly to 22M units, picking up by 6.5% on 2021. Over the period under review, consumption, however, saw a deep downturn. Over the period under review, global consumption reached the peak volume at 38M units in 2012; however, from 2013 to 2022, consumption failed to regain momentum.
The global percussion musical instrument market revenue was estimated at $1.2B in 2022, increasing by 6.8% 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). Overall, consumption, however, showed a drastic downturn. Global consumption peaked at $2.7B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were China (4.3M units), the United States (2.5M units) and India (1.6M units), with a combined 39% share of global consumption. Germany, Japan, South Korea, Brazil, Russia, Pakistan, Indonesia, Australia, Canada and France lagged somewhat behind, together accounting for a further 31%.
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by South Korea (with a CAGR of +2.6%), while consumption for the other global leaders experienced a decline in the consumption figures.
In value terms, Russia ($343M) led the market, alone. The second position in the ranking was taken by Japan ($128M). It was followed by the United States.
In Russia, the percussion musical instrument market plunged by an average annual rate of -8.6% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Japan (-11.9% per year) and the United States (-4.4% per year).
The countries with the highest levels of percussion musical instrument per capita consumption in 2022 were Australia (23 units per 1000 persons), South Korea (14 units per 1000 persons) and Germany (13 units per 1000 persons).
From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +2.4%), while consumption for the other global leaders experienced a decline in the per capita consumption figures.
Production
World Production of Percussion Musical Instruments
In 2022, production of percussion musical instruments was finally on the rise to reach 27M units after three years of decline. Over the period under review, production, however, showed a pronounced shrinkage. The pace of growth was the most pronounced in 2018 when the production volume increased by 29%. Global production peaked at 42M units in 2012; however, from 2013 to 2022, production remained at a lower figure.
In value terms, percussion musical instrument production rose modestly to $1.1B in 2022 estimated in export price. In general, production, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15%. Over the period under review, global production hit record highs at $2.1B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.
Production By Country
The country with the largest volume of percussion musical instrument production was China (14M units), accounting for 52% of total volume. Moreover, percussion musical instrument production in China exceeded the figures recorded by the second-largest producer, India (2.1M units), sevenfold. The third position in this ranking was taken by Taiwan (Chinese) (1M units), with a 3.7% share.
In China, percussion musical instrument production plunged by an average annual rate of -1.9% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (-2.8% per year) and Taiwan (Chinese) (-6.6% per year).
Imports
World Imports of Percussion Musical Instruments
In 2022, overseas purchases of percussion musical instruments increased by 6.4% to 14M units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a mild decline. The most prominent rate of growth was recorded in 2018 with an increase of 17%. Global imports peaked at 17M units in 2012; however, from 2013 to 2022, imports remained at a lower figure.
In value terms, percussion musical instrument imports surged to $504M in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 17%. Over the period under review, global imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.
Imports By Country
In 2022, the United States (3.8M units) was the major importer of percussion musical instruments, committing 27% of total imports. It was distantly followed by Germany (1.3M units), China (1.1M units) and South Korea (0.8M units), together generating a 23% share of total imports. Australia (605K units), Canada (568K units), the Netherlands (491K units), France (433K units), Japan (362K units), Italy (331K units), Chile (327K units), the UK (283K units) and Brazil (227K units) held a relatively small share of total imports.
From 2012 to 2022, average annual rates of growth with regard to percussion musical instrument imports into the United States stood at -4.6%. At the same time, China (+12.4%), the Netherlands (+9.7%), Germany (+8.6%), Italy (+6.8%), France (+4.1%) and South Korea (+3.2%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +12.4% from 2012-2022. By contrast, Chile (-1.1%), Canada (-1.8%), Australia (-2.4%), Brazil (-2.4%), the UK (-7.5%) and Japan (-12.9%) illustrated a downward trend over the same period. While the share of Germany (+6 p.p.), China (+5.7 p.p.), the Netherlands (+2.4 p.p.) and South Korea (+2.2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the UK (-1.6 p.p.), Japan (-5.8 p.p.) and the United States (-8.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the United States ($144M) constitutes the largest market for imported percussion musical instruments worldwide, comprising 29% of global imports. The second position in the ranking was taken by Germany ($67M), with a 13% share of global imports. It was followed by France, with a 4.7% share.
From 2012 to 2022, the average annual growth rate of value in the United States amounted to +1.6%. In the other countries, the average annual rates were as follows: Germany (+4.8% per year) and France (+1.2% per year).
Import Prices By Country
The average percussion musical instrument import price stood at $36 per unit in 2022, picking up by 8.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2017 when the average import price increased by 13% against the previous year. Global import price peaked in 2022 and is likely to see steady growth in years to come.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($81 per unit), while China ($13 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+11.3%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Percussion Musical Instruments
In 2022, overseas shipments of percussion musical instruments increased by 19% to 19M units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, showed a mild decline. The most prominent rate of growth was recorded in 2018 with an increase of 74% against the previous year. The global exports peaked at 23M units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.
In value terms, percussion musical instrument exports surged to $558M in 2022. The total export value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 23% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the immediate term.
Exports By Country
China dominates exports structure, reaching 11M units, which was approx. 57% of total exports in 2022. It was distantly followed by the United States (1.4M units), Taiwan (Chinese) (1.1M units), Germany (1M units) and Thailand (0.9M units), together making up a 23% share of total exports. The Netherlands (746K units), India (595K units) and Turkey (386K units) took a relatively small share of total exports.
China experienced a relatively flat trend pattern with regard to volume of exports of percussion musical instruments. At the same time, Turkey (+5.7%), India (+4.7%) and the United States (+3.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +5.7% from 2012-2022. The Netherlands experienced a relatively flat trend pattern. By contrast, Thailand (-1.7%), Germany (-5.5%) and Taiwan (Chinese) (-6.1%) illustrated a downward trend over the same period. The United States (+2.5 p.p.) and China (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while Germany and Taiwan (Chinese) saw its share reduced by -3% and -4.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($192M) remains the largest percussion musical instrument supplier worldwide, comprising 34% of global exports. The second position in the ranking was taken by Germany ($85M), with a 15% share of global exports. It was followed by the United States, with an 11% share.
In China, percussion musical instrument exports expanded at an average annual rate of +3.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+6.0% per year) and the United States (-0.8% per year).
Export Prices By Country
The average percussion musical instrument export price stood at $29 per unit in 2022, which is down by -2.8% against the previous year. Over the period under review, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the average export price increased by 53% against the previous year. The global export price peaked at $45 per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
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 ($88 per unit), while India ($4.3 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+12.2%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global percussion musical instrument 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 2030.
Product coverage:
- Prodcom 32201510 - Percussion musical instruments
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- 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
- CONSUMPTION BY COUNTRY
- 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. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- 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 -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 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
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 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, 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, 2012–2023
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