Europe: Piano Market 2024

Piano Market Size in Europe

In 2022, the Europe piano market increased by X% to $X, rising for the fourth year in a row after four years of decline. Overall, consumption, however, continues to indicate a mild reduction. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Piano Production in Europe

In value terms, piano production rose significantly 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 throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs in 2022 and is expected to retain growth in years to come.

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Piano Exports

Exports in Europe

In 2022, overseas shipments of pianos and other keyboard stringed musical instruments decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. In general, exports showed a mild decline. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, piano exports contracted to $X in 2022. The total export value increased at an average annual rate of X% 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%. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

Germany represented the main exporting country with an export of about X units, which amounted to X% of total exports. The Netherlands (X units) held the second position in the ranking, followed by the Czech Republic (X units), the UK (X units) and Belgium (X units). All these countries together took approx. X% share of total exports. Italy (X units), France (X units), Poland (X units), Croatia (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 piano exports from Germany stood at X%. At the same time, Croatia (X%), the Netherlands (X%), Italy (X%) and the UK (X%) displayed positive paces of growth. Moreover, Croatia emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2022. By contrast, the Czech Republic (X%), Belgium (X%), Poland (X%), France (X%) and Austria (X%) illustrated a downward trend over the same period. While the share of the Netherlands (X p.p.), the UK (X p.p.), Italy (X p.p.) and Croatia (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 ($X) remains the largest piano supplier in Europe, comprising X% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with an X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany amounted to X%. 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

The export price in Europe stood at $X per unit in 2022, falling by X% against the previous year. Export price indicated moderate growth 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, piano export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The level of export peaked at $X per unit in 2021, and then reduced slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Austria ($X per unit), while Croatia ($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.

Piano Imports

Imports in Europe

Piano imports reduced slightly to X units in 2022, therefore, remained relatively stable against the previous year's figure. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, piano imports declined to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Germany (X units), distantly followed by the UK (X units), the Netherlands (X units), France (X units) and Italy (X units) were the major importers of pianos and other keyboard stringed musical instruments, together comprising X% of total imports. The following importers - Belgium (X units), Russia (X units), Spain (X units), Switzerland (X units), the Czech Republic (X units), Poland (X units) and Ireland (X units) - together made up X% of total imports.

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

In value terms, Germany ($X), the UK ($X) and France ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. The Netherlands, Switzerland, Poland, Italy, Spain, Belgium, the Czech Republic, Russia and Ireland lagged somewhat behind, together comprising a further X%.

The Netherlands, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Europe amounted to $X per unit, shrinking by X% against the previous year. Over the period under review, the import price, however, saw a slight expansion. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, import prices hit record highs at $X per unit in 2021, and then fell in the following year.

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