Eastern Asia: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Eastern Asia

The East Asian percussion musical instrument market fell significantly to $X in 2022, reducing by X% against the previous year. Overall, consumption continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Percussion Musical Instrument Production in Eastern Asia

In value terms, percussion musical instrument production declined slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Percussion Musical Instrument Exports

Exports in Eastern Asia

Percussion musical instrument exports rose notably to X units in 2022, picking up by X% against 2021 figures. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, percussion musical instrument exports surged 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 indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

China dominates exports structure, recording X units, which was approx. X% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), achieving a X% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of percussion musical instruments. Taiwan (Chinese) (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest percussion musical instrument supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports.

In China, percussion musical instrument exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the export price posted a temperate expansion. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%).

Percussion Musical Instrument Imports

Imports in Eastern Asia

In 2022, the amount of percussion musical instruments imported in Eastern Asia fell rapidly to X units, declining by X% on the year before. Over the period under review, imports continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, percussion musical instrument imports dropped to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China represented the key importer of percussion musical instruments in Eastern Asia, with the volume of imports finishing at X units, which was approx. X% of total imports in 2022. Japan (X units) held the second position in the ranking, followed by South Korea (X units) and Taiwan (Chinese) (X units). All these countries together took near X% share of total imports. Hong Kong SAR (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the percussion musical instruments imports, with a CAGR of X% from 2012 to 2022. Taiwan (Chinese) and South Korea experienced a relatively flat trend pattern. Japan (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (X p.p.) and Japan (X p.p.) displayed negative dynamics.

In value terms, Japan ($X), South Korea ($X) and China ($X) were the countries with the highest levels of imports in 2022, 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, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period under review, the import price saw perceptible growth. The pace of growth appeared the most rapid in 2015 when the import price increased by X%. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per unit), while China ($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.

Source: IndexBox Platform