Price for Non-Keyboard Electrical Musical Instruments in the United States - 2023
Contents:
- Price for Non-Keyboard Electrical Musical Instruments in the United States (CIF) - 2022
- Price for Non-Keyboard Electrical Musical Instruments in the United States (FOB) - 2023
- Imports of Non-Keyboard Electrical Musical Instruments in the United States
- Exports of Non-Keyboard Electrical Musical Instruments in the United States
Price for Non-Keyboard Electrical Musical Instruments in the United States (CIF) - 2022
The average non-keyboard electrical musical instruments import price stood at $149 per unit in 2022, picking up by 1.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2018 an increase of 9.8%. The import price peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($447 per unit), while the price for China ($110 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Keyboard Electrical Musical Instruments in the United States (FOB) - 2023
In October 2023, the average non-keyboard electrical musical instruments export price amounted to $553 per unit, falling by -3.6% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.7%. The most prominent rate of growth was recorded in May 2023 an increase of 35% against the previous month. Over the period under review, the average export prices attained the peak figure at $638 per unit in February 2023; however, from March 2023 to October 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In October 2023, the country with the highest price was Hong Kong SAR ($1,239 per unit), while the average price for exports to Brazil ($191 per unit) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Non-Keyboard Electrical Musical Instruments in the United States
In 2022, the amount of non-keyboard electrical musical instrumentses imported into the United States surged to 3.2M units, growing by 25% against the year before. In general, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +15.3% 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 +70.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, non-keyboard electrical musical instruments imports surged to $476M in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +17.4% 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 +77.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 39% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Non-Keyboard Electrical Musical Instruments in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 109 | 96.3 | 129 | 172 | 16.4% |
| Indonesia | 77.6 | 64.0 | 93.3 | 140 | 21.7% |
| Mexico | 41.2 | 38.2 | 63.9 | 70.5 | 19.6% |
| South Korea | 19.3 | 20.0 | 21.6 | 26.5 | 11.1% |
| Malaysia | 15.6 | 14.4 | 24.8 | 21.8 | 11.8% |
| Japan | 17.3 | 20.2 | 19.3 | 20.9 | 6.5% |
| Others | 14.8 | 15.2 | 21.7 | 25.7 | 20.2% |
| Total | 294 | 268 | 374 | 476 | 17.4% |
Top Suppliers of Non-Keyboard Electrical Musical Instruments to the United States in 2022:
- China (1553.7K units)
- Indonesia (948.2K units)
- Mexico (343.4K units)
- South Korea (113.3K units)
- Malaysia (46.9K units)
- Japan (46.7K units)
Exports of Non-Keyboard Electrical Musical Instruments in the United States
Non-keyboard electrical musical instruments exports from the United States surged to 618K units in 2022, with an increase of 16% against the previous year. The total export volume increased at an average annual rate of +9.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 26% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, non-keyboard electrical musical instruments exports soared to $308M in 2022. Overall, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +13.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.9% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 32% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.
| Export of Non-Keyboard Electrical Musical Instruments in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 65.3 | 54.7 | 75.9 | 84.5 | 9.0% |
| Canada | 31.5 | 31.5 | 43.4 | 59.3 | 23.5% |
| Japan | 30.2 | 26.4 | 31.5 | 33.9 | 3.9% |
| Australia | 11.5 | 11.8 | 20.7 | 29.4 | 36.7% |
| Hong Kong SAR | 10.0 | 8.0 | 7.8 | 20.8 | 27.7% |
| Mexico | 10.2 | 7.7 | 9.6 | 14.5 | 12.4% |
| United Kingdom | 8.8 | 8.6 | 10.8 | 12.0 | 10.9% |
| China | 4.7 | 4.8 | 10.4 | 9.5 | 26.4% |
| Germany | 6.3 | 7.3 | 7.7 | 5.5 | -4.4% |
| Others | 30.3 | 24.9 | 26.9 | 38.5 | 8.3% |
| Total | 209 | 186 | 245 | 308 | 13.8% |
Top Export Markets for Non-Keyboard Electrical Musical Instruments from the United States in 2022:
- Netherlands (166.0K units)
- Canada (143.4K units)
- Mexico (53.8K units)
- Japan (46.5K units)
- Australia (36.5K units)
- Hong Kong SAR (26.2K units)
- United Kingdom (23.4K units)
- Germany (17.2K units)
- China (10.7K units)
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This report provides an in-depth analysis of the electrical musical instrument market in the U.S..
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This report provides an in-depth analysis of the global electrical musical instrument market.
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In terms of value, imports of Electrical Musical Instruments grew significantly to $41M in June 2023.
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Discover the top import markets for electrical musical instruments in 2023. Learn about the key countries driving the global trade of musical instruments.
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In terms of value, imports of Electrical Musical Instruments grew significantly to $41M in June 2023.
98
Discover the top import markets for electrical musical instruments in 2023. Learn about the key countries driving the global trade of musical instruments.
