Belgium: Piano Market 2024

Piano Market Size in Belgium

After two years of growth, the Belgian piano market decreased by X% to $X in 2022. Overall, consumption recorded a perceptible contraction. Over the period under review, the market reached the maximum level at $X in 2021, and then fell remarkably in the following year.

Piano Exports

Exports from Belgium

In 2022, shipments abroad of pianos and other keyboard stringed musical instruments decreased by X% to X units, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, piano exports contracted dramatically to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined rapidly in the following year.

Exports by Country

France (X units) was the main destination for piano exports from Belgium, accounting for a X% share of total exports. Moreover, piano exports to France exceeded the volume sent to the second major destination, the Netherlands (X units), twofold. Italy (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to France totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Italy (X% per year).

In value terms, France ($X) remains the key foreign market for pianos and other keyboard stringed musical instruments exports from Belgium, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average piano export price amounted to $X per unit, standing approx. at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit, and then contracted modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Rwanda ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Piano Imports

Imports into Belgium

In 2022, purchases abroad 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, imports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, piano imports dropped dramatically to $X in 2022. Overall, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced sharply in the following year.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of piano to Belgium, with a X% share of total imports. Moreover, piano imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. 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 Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

In value terms, the largest piano suppliers to Belgium were Japan ($X), Germany ($X) and the Netherlands ($X), together comprising X% of total imports.

Japan, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average piano import price stood at $X per unit in 2022, waning by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked at $X per unit in 2021, and then plummeted in the following year.

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 Germany ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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