EU: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in the EU

In 2023, after five years of growth, there was decline in the EU electrical musical instrument market, when its value decreased by X% to $X. In general, consumption, however, saw a strong increase. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Electrical Musical Instrument Production in the EU

In value terms, electrical musical instrument production amounted to $X in 2023 estimated in export price. Overall, production, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Electrical Musical Instrument Exports

Exports in the EU

In 2023, overseas shipments of electrical musical or keyboard instruments decreased by X% to X units, falling for the second year in a row after six years of growth. Overall, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. The volume of export peaked at X units in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, electrical musical instrument exports reached $X in 2023. Over the period under review, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, the exports attained the peak figure in 2023 and are likely to continue growth in the near future.

Exports by Country

In 2023, Germany (X units), Belgium (X units) and the Netherlands (X units) represented the main exporter of electrical musical or keyboard instruments in the European Union, mixing up X% of total export. It was distantly followed by France (X units) and Sweden (X units), together achieving a X% share of total exports. The following exporters - Spain (X units) and Poland (X units) - each reached a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Poland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Belgium ($X) constituted the countries with the highest levels of exports in 2023, together accounting for X% of total exports. Sweden, France, Poland and Spain lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per unit in 2023, picking up by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per unit in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while Belgium ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced more modest paces of growth.

Electrical Musical Instrument Imports

Imports in the EU

In 2023, supplies from abroad of electrical musical or keyboard instruments decreased by X% to X units, falling for the second consecutive year after four years of growth. Overall, imports, however, posted a noticeable expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. The volume of import peaked at X units in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, electrical musical instrument imports contracted to $X in 2023. In general, imports, however, continue to indicate moderate growth. The pace of growth was the most pronounced in 2020 with an increase of X%. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Germany (X units) and the Netherlands (X units) represented the key importers of electrical musical or keyboard instruments in 2023, accounting for approx. X% and X% of total imports, respectively. France (X units) took the next position in the ranking, followed by Belgium (X units), Italy (X units) and Spain (X units). All these countries together took approx. X% share of total imports. Sweden (X units) took a minor share of total imports.

From 2012 to 2023, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and France ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports. Belgium, Italy, Spain and Sweden lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Belgium, with a CAGR of X%, saw 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

In 2023, the import price in the European Union amounted to $X per unit, with an increase of X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked in 2023 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Germany ($X per unit) and Italy ($X per unit), while Sweden ($X per unit) and Spain ($X per unit) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform