Estonia: Piano Market 2024

Piano Market Size in Estonia

The Estonian piano market contracted to $X in 2022, reducing by X% against the previous year. Overall, consumption showed a abrupt decline. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Piano Production in Estonia

In value terms, piano production skyrocketed to $X in 2022 estimated in export price. The total output 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 pace of growth appeared the most rapid in 2021 with an increase of X%. Piano production peaked in 2022 and is expected to retain growth in the immediate term.

Piano Exports

Exports from Estonia

After two years of growth, overseas shipments of pianos and other keyboard stringed musical instruments decreased by X% to X units in 2022. Overall, exports saw a mild shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, piano exports fell to $X in 2022. In general, exports recorded a slight decline. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for piano exports from Estonia, with a X% share of total exports. Moreover, piano exports to the United States exceeded the volume sent to the second major destination, Canada (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Indonesia (X% per year).

In value terms, the United States ($X) remains the key foreign market for pianos and other keyboard stringed musical instruments exports from Estonia, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports.

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

Export Prices by Country

In 2022, the average piano export price amounted to $X per unit, reducing by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to the United States ($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 the United States (X%), while the prices for the other major destinations experienced a decline.

Piano Imports

Imports into Estonia

After two years of decline, purchases abroad of pianos and other keyboard stringed musical instruments increased by X% to X units in 2022. Over the period under review, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, piano imports skyrocketed to $X in 2022. In general, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X units), the Czech Republic (X units) and the United States (X units) were the main suppliers of piano imports to Estonia, with a combined X% share of total imports.

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

In value terms, Germany ($X), the Czech Republic ($X) and the United States ($X) constituted the largest piano suppliers to Estonia, with a combined X% share of total imports.

The United States, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average piano import price amounted to $X per unit, increasing by X% against the previous year. Overall, the import price posted a prominent increase. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :