EU: Upright Piano Market 2024

Upright Piano Market Size in the EU

For the fifth consecutive year, the EU upright piano market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Upright Piano Production in the EU

In value terms, upright piano production rose notably to $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2015 indices. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of production peaked in 2022 and is likely to see gradual growth in the immediate term.

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Upright Piano Exports

Exports in the EU

After two years of growth, shipments abroad of acoustic new upright pianos decreased by X% to X units in 2022. Over the period under review, exports continue to indicate a noticeable decrease. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, upright piano exports declined 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 when exports increased by X%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

In 2022, Germany (X units) was the key exporter of acoustic new upright pianos, committing X% of total exports. The Netherlands (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by the Czech Republic (X%) and Belgium (X%). The following exporters - France (X units), Croatia (X units) and Poland (X units) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to upright piano exports from Germany stood at X%. At the same time, Croatia (X%) and the Netherlands (X%) displayed positive paces of growth. Moreover, Croatia emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2022. By contrast, the Czech Republic (X%), Belgium (X%), Poland (X%) and France (X%) illustrated a downward trend over the same period. While the share of the Netherlands (X p.p.), Croatia (X p.p.) and the Czech Republic (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of France (X p.p.) and Germany (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest upright piano supplier in the European Union, comprising X% of total exports. The second position in the ranking was held by the Czech Republic ($X), with an X% share of total exports. It was followed by the Netherlands, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Germany was relatively modest. In the other countries, the average annual rates were as follows: the Czech Republic (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per unit, therefore, remained relatively stable against the previous year. Export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, upright piano export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Poland ($X per unit), while Croatia ($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 other leaders experienced more modest paces of growth.

Upright Piano Imports

Imports in the EU

In 2022, imports of acoustic new upright pianos in the European Union shrank to X units, falling by X% on the year before. Over the period under review, imports showed a mild descent. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, upright piano imports fell modestly to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then reduced modestly in the following year.

Imports by Country

Germany was the major importing country with an import of about X units, which amounted to X% of total imports. The Netherlands (X units) ranks second in terms of the total imports with a X% share, followed by France (X%), Italy (X%) and Belgium (X%). Spain (X units), the Czech Republic (X units), Ireland (X units), Poland (X units) and Austria (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to upright piano imports into Germany stood at X%. At the same time, the Czech Republic (X%), the Netherlands (X%), Poland (X%) and Ireland (X%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing importer imported in the European Union, with a CAGR of X% from 2012-2022. By contrast, Italy (X%), Belgium (X%), Spain (X%), Austria (X%) and France (X%) illustrated a downward trend over the same period. The Netherlands (X p.p.) and the Czech Republic (X p.p.) significantly strengthened its position in terms of the total imports, while France and Germany saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported acoustic new upright pianos in the European Union, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany totaled X%. In the other countries, the average annual rates were as follows: the Netherlands (X% per year) and France (X% per year).

Import Prices by Country

The import price in the European Union stood at $X per unit in 2022, growing by X% against 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 an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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