Europe: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Europe

In 2023, after five years of growth, there was decline in the Europe electrical musical instrument market, when its value decreased by X% to $X. Overall, consumption, however, continues to indicate a strong expansion. As a result, consumption attained the peak level of $X, and then dropped modestly in the following year.

Electrical Musical Instrument Production in Europe

In value terms, electrical musical instrument production rose notably to $X in 2023 estimated in export price. Over the period under review, production, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Electrical Musical Instrument Exports

Exports in Europe

In 2023, shipments abroad of electrical musical or keyboard instruments decreased by X% to X units, falling for the second consecutive year after six years of growth. In general, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, electrical musical instrument exports expanded remarkably to $X in 2023. Overall, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are likely to see steady growth in years to come.

Exports by Country

The shipments of the three major exporters of electrical musical or keyboard instruments, namely Germany, Belgium and the Netherlands, represented more than two-thirds of total export. France (X units) ranks next in terms of the total exports with a X% share, followed by Sweden (X%) and the UK (X%). Spain (X units) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Spain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

Among the main exporting countries, Spain, with a CAGR of X%, recorded the highest growth rate of the value of exports, 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 Europe stood at $X per unit in 2023, growing by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 the UK (X%), while the other leaders experienced more modest paces of growth.

Electrical Musical Instrument Imports

Imports in Europe

In 2023, purchases abroad of electrical musical or keyboard instruments decreased by X% to X units, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, showed a moderate expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, electrical musical instrument imports reduced to $X in 2023. Total imports indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

Germany (X units), the UK (X units) and the Netherlands (X units) represented roughly X% of total imports in 2023. It was distantly followed by France (X units), Russia (X units) and Belgium (X units), together comprising a X% share of total imports. Italy (X units), Spain (X units), Sweden (X units), Poland (X units) and Switzerland (X units) held a minor share of total imports.

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

In value terms, the largest electrical musical instrument importing markets in Europe were Germany ($X), the Netherlands ($X) and the UK ($X), together accounting for X% of total imports. France, Belgium, Italy, Spain, Switzerland, Sweden, Russia and Poland lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Belgium, 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

In 2023, the import price in Europe amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum in 2023 and is likely to see gradual growth in the immediate term.

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