Report Update Apr 1, 2024

Azerbaijan - Pianos and Other Keyboard Stringed Musical Instruments - Market Analysis, Forecast, Size, Trends and Insights

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Azerbaijan: Piano Market 2024

Piano Market Size in Azerbaijan

The Azerbaijani piano market surged to $X in 2022, with an increase of X% 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). In general, consumption posted a significant increase. Piano consumption peaked in 2022 and is expected to retain growth in the immediate term.

Piano Exports

Exports from Azerbaijan

In 2022, overseas shipments of pianos and other keyboard stringed musical instruments decreased by X% to X units, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a sharp setback. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, piano exports declined remarkably to $X in 2022. In general, exports faced a sharp descent. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X units), Qatar (X units) and Russia (X units) were the main destinations of piano exports from Azerbaijan, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X), Turkey ($X) and Russia ($X) appeared to be the largest markets for piano exported from Azerbaijan worldwide, together comprising X% of total exports.

Qatar, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average piano export price amounted to $X per unit, almost unchanged from the previous year. Overall, the export price faced a abrupt curtailment. The pace of growth was the most pronounced in 2015 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Australia ($X 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 Australia (X%), while the prices for the other major destinations experienced a decline.

Piano Imports

Imports into Azerbaijan

For the fifth consecutive year, Azerbaijan recorded growth in supplies from abroad of pianos and other keyboard stringed musical instruments, which increased by X% to X units in 2022. Overall, imports showed buoyant growth. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, piano imports soared to $X in 2022. In general, imports, however, continue to indicate a slight setback. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest piano supplier to Azerbaijan, with a X% share of total imports. Moreover, piano imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), ninefold. The third position in this ranking was taken by Germany (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Germany (X% per year).

In value terms, China ($X), Indonesia ($X) and Germany ($X) appeared to be the largest piano suppliers to Azerbaijan, with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average piano import price stood at $X per unit in 2022, waning by X% against the previous year. In general, the import price faced a abrupt contraction. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per unit), while the price for Turkey ($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 prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for pianos and other keyboard stringed musical instruments in the world?

China remains the largest piano consuming country worldwide, comprising approx. 30% of total volume. Moreover, piano consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was taken by India, with a 6.7% share.

What are the largest producers of pianos and other keyboard stringed musical instruments in the world?

The countries with the highest volumes of production in 2022 were Japan, Indonesia and India, together comprising 47% of global production. The UK, the United States, Pakistan, Italy, Ethiopia, South Korea, Germany, Democratic Republic of the Congo and the Czech Republic lagged somewhat behind, together comprising a further 33%.

What are the leading suppliers of pianos and other keyboard stringed musical instruments to Azerbaijan?

In value terms, the largest piano suppliers to Azerbaijan were China, Indonesia and Germany, together comprising 79% of total imports.

What are the leading importers of pianos and other keyboard stringed musical instruments from Azerbaijan?

In value terms, Qatar, Turkey $627) and Russia $470) constituted the largest markets for piano exported from Azerbaijan worldwide, with a combined 75% share of total exports.

What is the average export price for pianos and other keyboard stringed musical instruments in Azerbaijan?

The average piano export price stood at $261 per unit in 2022, almost unchanged from the previous year.

What is the average import price for pianos and other keyboard stringed musical instruments in Azerbaijan?

In 2022, the average piano import price amounted to $932 per unit, dropping by -34.8% against the previous year.

This report provides an in-depth analysis of the piano market in Azerbaijan. 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:

Azerbaijan

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Azerbaijan
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023