MENA: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in MENA

In 2023, the MENA's electrical musical instrument market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The total consumption indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2022, and then reduced in the following year.

Electrical Musical Instrument Production in MENA

In value terms, electrical musical instrument production reached $X in 2023 estimated in export price. Overall, production, however, continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. The level of production peaked at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Electrical Musical Instrument Exports

Exports in MENA

In 2023, overseas shipments of electrical musical or keyboard instruments decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports, however, saw a temperate expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2022, and then reduced in the following year.

In value terms, electrical musical instrument exports expanded remarkably to $X in 2023. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

Turkey (X units) and the United Arab Emirates (X units) dominates exports structure, together creating X% of total exports. It was distantly followed by Israel (X units), making up a X% share of total exports. Tunisia (X units) held a minor share of total exports.

From 2012 to 2023, the biggest increases were recorded for Tunisia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical musical instrument supplying countries in MENA were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), together comprising X% of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of X%, saw the highest rates of growth with regard to 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 export price in MENA stood at $X per unit in 2023, rising by X% against the previous year. Overall, the export price, however, showed a noticeable setback. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2023, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Electrical Musical Instrument Imports

Imports in MENA

In 2023, after two years of growth, there was decline in supplies from abroad of electrical musical or keyboard instruments, when their volume decreased by X% to X units. Overall, imports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of import peaked at X units in 2022, and then dropped in the following year.

In value terms, electrical musical instrument imports rose to $X in 2023. Total imports indicated a temperate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in years to come.

Imports by Country

The United Arab Emirates (X units) and Turkey (X units) prevails in imports structure, together mixing up X% of total imports. It was distantly followed by Israel (X units), constituting a X% share of total imports. The following importers - Oman (X units) and Kuwait (X units) - each reached a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Oman (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Oman and Kuwait lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Oman, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per unit in 2023, increasing by X% against the previous year. Import price indicated a slight expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, electrical musical instrument import price increased by X% against 2019 indices. The growth pace was the most rapid in 2015 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform