U.S. - Pianos And Other Keyboard Stringed Musical Instruments - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPiano Price in the United States - 2023
Contents:
- Piano Price in the United States (CIF) - 2023
- Piano Price in the United States (FOB) - 2022
- Piano Imports in the United States
- Piano Exports in the United States
Piano Price in the United States (CIF) - 2023
The average piano import price stood at $5,799 per unit in July 2023, growing by 9.7% against the previous month. Over the last ten months, it increased at an average monthly rate of +3.8%. The most prominent rate of growth was recorded in June 2023 an increase of 14% against the previous month. The import price peaked in July 2023.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Germany ($6,088 per unit), while the price for China ($2,503 per unit) was amongst the lowest.
From September 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Japan (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Piano Price in the United States (FOB) - 2022
In 2022, the average piano export price amounted to $7,226 per unit, which is down by -17.2% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2014 an increase of 31% against the previous year. The export price peaked at $8,726 per unit in 2021, and then fell dramatically in the following year.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($22,922 per unit), while the average price for exports to Costa Rica ($905 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 Germany (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.
Piano Imports in the United States
In 2022, imports of pianos and other keyboard stringed musical instruments into the United States surged to 33K units, picking up by 23% against the previous year. Overall, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +5.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 41% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, piano imports skyrocketed to $142M in 2022. Over the period under review, total imports indicated pronounced growth from 2019 to 2022: its value increased at an average annual rate of +4.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Piano in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 56.8 | 37.6 | 45.7 | 54.6 | -1.3% |
| Indonesia | 36.2 | 17.7 | 27.5 | 36.1 | -0.1% |
| China | 11.0 | 7.7 | 15.5 | 18.7 | 19.3% |
| Germany | 9.0 | 7.3 | 9.3 | 10.8 | 6.3% |
| Czech Republic | 0.5 | 0.7 | 0.9 | 2.9 | 79.7% |
| Vietnam | 0.6 | 0.8 | 0.7 | 1.1 | 22.4% |
| Others | 9.9 | 8.2 | 11.0 | 17.4 | 20.7% |
| Total | 124 | 80.0 | 111 | 142 | 4.6% |
Top Suppliers of Piano to the United States in 2022:
- Indonesia (11.3K units)
- Japan (9.2K units)
- China (6.9K units)
- Germany (2.6K units)
- Vietnam (0.6K units)
- Czech Republic (0.5K units)
Piano Exports in the United States
In 2022, shipments abroad of pianos and other keyboard stringed musical instruments was finally on the rise to reach 4.8K units for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +7.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, piano exports expanded markedly to $34M in 2022. The total export value increased at an average annual rate of +9.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Piano in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 12.8 | 15.9 | 18.1 | 19.8 | 15.7% |
| Japan | 3.0 | 2.4 | 2.6 | 2.4 | -7.2% |
| China | 2.1 | 0.9 | 1.2 | 1.9 | -3.3% |
| Germany | 1.1 | 1.4 | 0.7 | 1.7 | 15.6% |
| Mexico | 1.7 | 0.8 | 1.3 | 0.8 | -22.2% |
| Hong Kong SAR | 0.4 | 0.3 | 0.5 | 0.5 | 7.7% |
| Italy | 0.2 | 0.1 | 0.1 | 0.4 | 26.0% |
| Guatemala | 0.2 | 0.2 | 0.2 | 0.3 | 14.5% |
| Malaysia | N/A | N/A | N/A | 0.2 | 0% |
| Costa Rica | 0.1 | N/A | 0.1 | 0.1 | 0.0% |
| Argentina | 0.4 | 0.3 | 0.3 | 0.1 | -37.0% |
| Others | 4.3 | 4.7 | 5.4 | 6.0 | 11.7% |
| Total | 26.3 | 27.1 | 30.3 | 34.3 | 9.3% |
Top Export Markets for Piano from the United States in 2022:
- Canada (2242.0 units)
- Japan (460.0 units)
- Guatemala (234.0 units)
- China (232.0 units)
- Mexico (223.0 units)
- Malaysia (161.0 units)
- Costa Rica (146.0 units)
- Hong Kong SAR (118.0 units)
- Italy (80.0 units)
- Argentina (78.0 units)
- Germany (72.0 units)
This report provides an in-depth analysis of the piano market in the U.S.. 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:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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
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