Latin America and the Caribbean: Grand Piano Market 2024

Grand Piano Market Size in Latin America and the Caribbean

In 2022, the Latin American grand piano market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Grand Piano Production in Latin America and the Caribbean

In value terms, grand piano production skyrocketed to $X in 2022 estimated in export price. In general, production, however, showed a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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Grand Piano Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of acoustic grand pianos increased by X% to X units, rising for the second consecutive year after four years of decline. In general, exports, however, faced a abrupt slump. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, grand piano exports amounted to $X in 2022. Over the period under review, exports, however, continue to indicate a sharp reduction. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Costa Rica dominates exports structure, resulting at X units, which was near X% of total exports in 2022. Guatemala (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Panama (X%). The following exporters - Colombia (X units), Uruguay (X units) and Venezuela (X units) - each accounted for an X% share of total exports.

Exports from Costa Rica decreased at an average annual rate of X% from 2012 to 2022. At the same time, Venezuela (X%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Guatemala (X%), Panama (X%) and Uruguay (X%) illustrated a downward trend over the same period. Costa Rica (X p.p.), Guatemala (X p.p.), Panama (X p.p.), Colombia (X p.p.), Venezuela (X p.p.) and Uruguay (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest grand piano supplying countries in Latin America and the Caribbean were Uruguay ($X), Costa Rica ($X) and Venezuela ($X), with a combined X% share of total exports.

Among the main exporting countries, Venezuela, 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 mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the export price saw a deep slump. The pace of growth was the most pronounced in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, 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 Uruguay ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

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

Grand Piano Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of acoustic grand pianos increased by X% to X units, rising for the second year in a row after five years of decline. Over the period under review, imports, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, grand piano imports amounted to $X in 2022. Overall, imports, however, recorded a pronounced decrease. The pace of growth was the most pronounced in 2017 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Brazil (X units) and Chile (X units) represented roughly X% of total imports in 2022. Mexico (X units) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (X%) and Argentina (X%). The following importers - Trinidad and Tobago (X units) and Costa Rica (X units) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Trinidad and Tobago (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported acoustic grand pianos in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, surging by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per unit), while Chile ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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