ASEAN: Piano Market 2024

Piano Market Size in ASEAN

The ASEAN piano market fell to $X in 2022, reducing by X% against the previous year. Overall, consumption recorded a perceptible slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Piano Production in ASEAN

In value terms, piano production fell to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Piano Exports

Exports in ASEAN

In 2022, overseas shipments of pianos and other keyboard stringed musical instruments increased by X% to X units, rising for the second consecutive year after four years of decline. Overall, exports, however, showed a mild descent. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, piano exports totaled $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia represented the key exporter of pianos and other keyboard stringed musical instruments in ASEAN, with the volume of exports reaching X units, which was approx. X% of total exports in 2022. It was distantly followed by the Philippines (X units) and Malaysia (X units), together achieving a X% share of total exports. Vietnam (X units) followed a long way behind the leaders.

Exports from Indonesia decreased at an average annual rate of X% from 2012 to 2022. At the same time, the Philippines (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. While the share of the Philippines (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (X p.p.) and Indonesia (X p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) remains the largest piano supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia was relatively modest. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, dropping by X% against the previous year. Overall, the export price, however, recorded moderate growth. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The level of export peaked at $X per unit in 2021, and then declined notably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Piano Imports

Imports in ASEAN

In 2022, approx. X units of pianos and other keyboard stringed musical instruments were imported in ASEAN; remaining stable against the previous year's figure. Overall, imports saw a mild reduction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, piano imports surged to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

The Philippines (X units), Thailand (X units) and Malaysia (X units) represented roughly X% of total imports in 2022. Vietnam (X units) took the next position in the ranking, followed by Singapore (X units). All these countries together took approx. X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Singapore ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Thailand and the Philippines lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. Over the period under review, import prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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