Asia-Pacific: Grand Piano Market 2024

Grand Piano Market Size in Asia-Pacific

The Asia-Pacific grand piano market contracted slightly to $X in 2022, which is down by X% against the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Grand Piano Production in Asia-Pacific

In value terms, grand piano production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Grand Piano Exports

Exports in Asia-Pacific

In 2022, overseas shipments of acoustic grand pianos increased by X% to X units, rising for the second consecutive year after four years of decline. Overall, exports, however, recorded a pronounced downturn. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, grand piano exports rose rapidly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

China (X units) and Japan (X units) were the main exporters of acoustic grand pianos in 2022, recording approx. X% and X% of total exports, respectively. Indonesia (X units) held the next position in the ranking, followed by Malaysia (X units). All these countries together held approx. X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Japan ($X) remains the largest grand piano supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to X%. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, declining by X% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, grand piano export price increased by X% against 2016 indices. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then reduced in the following year.

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

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

Grand Piano Imports

Imports in Asia-Pacific

In 2022, grand piano imports in Asia-Pacific rose rapidly to X units, with an increase of X% against 2021. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, grand piano imports expanded sharply to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) represented the main importer of acoustic grand pianos, committing X% of total imports. Australia (X units) ranks second in terms of the total imports with a X% share, followed by Thailand (X%), Japan (X%), Malaysia (X%) and South Korea (X%). Taiwan (Chinese) (X units) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to grand piano imports into China stood at X%. At the same time, Thailand (X%), Taiwan (Chinese) (X%), South Korea (X%) and Australia (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Malaysia and Japan experienced a relatively flat trend pattern. While the share of China (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported acoustic grand pianos in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with an X% share of total imports. It was followed by Japan, with a X% share.

In China, grand piano imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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