Chile: Piano Market 2024

Piano Market Size in Chile

The Chilean piano market reduced dramatically to $X in 2022, falling by 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). Overall, consumption, however, posted prominent growth. Piano consumption peaked at $X in 2021, and then dropped notably in the following year.

Piano Exports

Exports from Chile

Piano exports from Chile shrank markedly to X units in 2022, waning by X% compared with 2021. Overall, exports continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, piano exports fell remarkably to $X in 2022. Over the period under review, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked at $X in 2021, and then fell significantly in the following year.

Exports by Country

Peru (X units) was the main destination for piano exports from Chile, with a X% share of total exports. Moreover, piano exports to Peru exceeded the volume sent to the second major destination, Bolivia (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Peru amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (X% per year) and Venezuela (X% per year).

In value terms, Peru ($X) emerged as the key foreign market for pianos and other keyboard stringed musical instruments exports from Chile, comprising X% of total exports. The second position in the ranking was taken by Bolivia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Peru stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (X% per year) and Venezuela (X% per year).

Export Prices by Country

In 2022, the average piano export price amounted to $X per unit, rising by X% against the previous year. In general, the export price posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per unit), while the average price for exports to Venezuela ($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 Peru (X%), while the prices for the other major destinations experienced mixed trend patterns.

Piano Imports

Imports into Chile

In 2022, overseas purchases of pianos and other keyboard stringed musical instruments decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, piano imports fell sharply to $X in 2022. Overall, imports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted sharply in the following year.

Imports by Country

The United States (X units), Sweden (X units) and South Korea (X units) were the main suppliers of piano imports to Chile, with a combined X% share of total imports. Panama, China, Japan, Spain, Poland, Indonesia and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

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

In value terms, Panama ($X) constituted the largest supplier of pianos and other keyboard stringed musical instruments to Chile, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Panama amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average piano import price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average 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 Panama ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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