Indonesia: Piano Market 2024

Piano Market Size in Indonesia

The Indonesian piano market shrank notably to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption recorded a drastic downturn. Piano consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Piano Production in Indonesia

In value terms, piano production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable contraction. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Piano Exports

Exports from Indonesia

In 2022, approx. X units of pianos and other keyboard stringed musical instruments were exported from Indonesia; rising by X% against the previous year's figure. Overall, exports, however, recorded a noticeable curtailment. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, piano exports reached $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units), the United States (X units) and Germany (X units) were the main destinations of piano exports from Indonesia, together comprising X% of total exports. The Netherlands, Japan, Malaysia, France and South Korea lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United States ($X), China ($X) and Germany ($X) appeared to be the largest markets for piano exported from Indonesia worldwide, together comprising X% of total exports. Malaysia, the Netherlands, Japan, France and South Korea lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, the Netherlands, with a CAGR of X%, saw 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 average piano export price stood at $X per unit in 2022, shrinking by X% against the previous year. In general, the export price, however, continues to indicate moderate growth. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then shrank rapidly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Japan ($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 the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Piano Imports

Imports into Indonesia

In 2022, purchases abroad of pianos and other keyboard stringed musical instruments was finally on the rise to reach X units after two years of decline. In general, imports, however, saw a dramatic decline. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, piano imports expanded notably to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2019 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Japan (X units) and the Czech Republic (X units) were the main suppliers of piano imports to Indonesia, together accounting for X% of total imports. The United States, Germany, Estonia, Italy and South Korea lagged somewhat behind, together accounting for a further X%.

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

In value terms, Japan ($X) constituted the largest supplier of pianos and other keyboard stringed musical instruments to Indonesia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Estonia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Estonia (X% per year).

Import Prices by Country

In 2022, the average piano import price amounted to $X per unit, approximately mirroring the previous year. Over the period under review, the import price, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Estonia ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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