GCC: Grand Piano Market 2024

Grand Piano Market Size in GCC

The GCC grand piano market contracted sharply to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption, however, continues to indicate a pronounced increase. As a result, consumption attained the peak level of $X, and then shrank sharply in the following year.

Grand Piano Production in GCC

In value terms, grand piano production stood at $X in 2022 estimated in export price. In general, production continues to indicate a mild descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

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Grand Piano Exports

Exports in GCC

In 2022, exports of acoustic grand pianos in GCC soared to X units, growing by X% compared with 2021. Overall, exports continue to indicate a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, grand piano exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates dominates exports structure, accounting for X units, which was near X% of total exports in 2022. The following exporters - Oman (X units), Kuwait (X units) and Saudi Arabia (X units) - together made up X% of total exports.

The United Arab Emirates was also the fastest-growing in terms of the acoustic grand pianos exports, with a CAGR of X% from 2012 to 2022. At the same time, Oman (X%), Saudi Arabia (X%) and Kuwait (X%) displayed positive paces of growth. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Oman (X p.p.), Saudi Arabia (X p.p.) and Kuwait (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest grand piano supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

In the United Arab Emirates, grand piano exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, increasing by X% against the previous year. In general, the export price showed strong growth. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

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

Grand Piano Imports

Imports in GCC

In 2022, approx. X units of acoustic grand pianos were imported in GCC; falling by X% on the previous year's figure. Overall, imports, however, saw temperate growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then fell rapidly in the following year.

In value terms, grand piano imports dropped significantly to $X in 2022. In general, imports, however, saw a prominent increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then reduced markedly in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, reaching X units, which was near X% of total imports in 2022. It was distantly followed by Qatar (X units), generating a X% share of total imports. Kuwait (X units), Bahrain (X units) and Oman (X units) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Qatar (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. Bahrain experienced a relatively flat trend pattern. By contrast, Oman (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Qatar increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported acoustic grand pianos in GCC, comprising X% of total imports. The second position in the ranking was held by Qatar ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled X%. In the other countries, the average annual rates were as follows: Qatar (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, jumping by X% against the previous year. In general, the import price saw a perceptible increase. The growth pace was the most rapid in 2019 when the import price increased by X%. Over the period under review, import prices reached the peak figure 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 the United Arab Emirates ($X per unit), while Kuwait ($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 Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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