India: Upright Piano Market 2024

Upright Piano Market Size in India

The Indian upright piano market dropped to $X in 2022, shrinking by X% against the previous year. In general, the total consumption indicated a perceptible increase 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, consumption increased by X% against 2020 indices. Upright piano consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Upright Piano Production in India

In value terms, upright piano production declined modestly to $X in 2022 estimated in export price. In general, the total production indicated temperate 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 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Upright Piano Exports

Exports from India

In 2022, shipments abroad of acoustic new upright pianos decreased by X% to X units, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a abrupt descent. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, upright piano exports shrank markedly to $X in 2022. In general, exports continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Bangladesh (X units) and Australia (X units) were the main destinations of upright piano exports from India, together comprising X% of total exports.

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

In value terms, the United States ($X) emerged as the key foreign market for acoustic new upright pianos exports from India, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with a X% share of total exports. It was followed by Egypt, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Egypt (X% per year).

Export Prices by Country

The average upright piano export price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bhutan (X%), while the prices for the other major destinations experienced a decline.

Upright Piano Imports

Imports into India

In 2022, approx. X units of acoustic new upright pianos were imported into India; falling by X% compared with 2021 figures. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, upright piano imports totaled $X in 2022. In general, total imports indicated a measured increase 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X units), China (X units) and Indonesia (X units) were the main suppliers of upright piano imports to India, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Malaysia ($X), Japan ($X) and China ($X) constituted the largest upright piano suppliers to India, together accounting for X% of total imports.

In terms of the main suppliers, Malaysia, 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 mixed trend patterns.

Import Prices by Country

The average upright piano import price stood at $X per unit in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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