China: Grand Piano Market 2024

Grand Piano Market Size in China

In 2022, after three years of growth, there was significant decline in the Chinese grand piano market, when its value decreased by X% to $X. Overall, consumption, however, posted a prominent increase. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Grand Piano Production in China

In value terms, grand piano production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

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Grand Piano Exports

Exports from China

In 2022, shipments abroad of acoustic grand pianos increased by X% to X units, rising for the second year in a row after two years of decline. In general, exports, however, saw a mild contraction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, grand piano exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for grand piano exports from China, with a X% share of total exports. Moreover, grand piano exports to the United States exceeded the volume sent to the second major destination, Singapore (X units), fourfold. The Czech Republic (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the Czech Republic (X% per year).

In value terms, the United States ($X) remains the key foreign market for acoustic grand pianos exports from China, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Singapore (X% per year).

Export Prices by Country

The average grand piano export price stood at $X per unit in 2022, approximately reflecting 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 2020 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Brazil ($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 more modest paces of growth.

Grand Piano Imports

Imports into China

In 2022, approx. X units of acoustic grand pianos were imported into China; with a decrease of X% compared with 2021 figures. Overall, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at X units in 2021, and then contracted in the following year.

In value terms, grand piano imports contracted to $X in 2022. Over the period under review, imports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then fell modestly in the following year.

Imports by Country

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

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at 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, the largest grand piano suppliers to China were Germany ($X), Japan ($X) and Indonesia ($X), together comprising X% of total imports.

In terms of the main suppliers, Germany, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average grand piano import price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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