Lithuania: Piano Market 2024

Piano Market Size in Lithuania

The Lithuanian piano market skyrocketed to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, faced a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Piano Production in Lithuania

In value terms, piano production soared to $X in 2022 estimated in export price. In general, production, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Piano production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Piano Exports

Exports from Lithuania

Piano exports from Lithuania surged to X units in 2022, increasing by X% compared with the previous year's figure. In general, exports saw a measured expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, piano exports soared to $X in 2022. Over the period under review, exports saw a remarkable increase. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Russia (X units) was the main destination for piano exports from Lithuania, with a X% share of total exports. Moreover, piano exports to Russia exceeded the volume sent to the second major destination, Kazakhstan (X units), sixfold. The third position in this ranking was taken by Germany (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (X% per year) and Germany (X% per year).

In value terms, Russia ($X), Kazakhstan ($X) and the United Arab Emirates ($X) were the largest markets for piano exported from Lithuania worldwide, together comprising X% of total exports.

Kazakhstan, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average piano export price amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the export price enjoyed a pronounced expansion. The growth pace was the most rapid in 2018 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Kyrgyzstan ($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 Lithuania

In 2022, overseas purchases of pianos and other keyboard stringed musical instruments were finally on the rise to reach X units after two years of decline. Over the period under review, imports posted buoyant growth. The growth pace was the most rapid in 2019 when imports increased by X%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, piano imports soared to $X in 2022. In general, imports recorded prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X units), Italy (X units) and China (X units) were the main suppliers of piano imports to Lithuania, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Latvia (X% per year).

Import Prices by Country

The average piano import price stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the import price recorded buoyant growth. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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