MENA: Piano Market 2024

Piano Market Size in MENA

The MENA's piano market reduced sharply to $X in 2022, waning by X% against the previous year. In general, consumption recorded a slight curtailment. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Piano Production in MENA

In value terms, piano production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Piano Exports

Exports in MENA

Piano exports surged to X units in 2022, growing by X% compared with 2021 figures. In general, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, piano exports surged to $X in 2022. Overall, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates dominates exports structure, recording X units, which was approx. X% of total exports in 2022. The following exporters - Turkey (X units) and Oman (X units) - together made up X% of total exports.

The United Arab Emirates was also the fastest-growing in terms of the pianos and other keyboard stringed musical instruments exports, with a CAGR of X% from 2012 to 2022. At the same time, Oman (X%) and Turkey (X%) displayed positive paces of growth. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest piano supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with a X% share of total exports.

In the United Arab Emirates, piano exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (X% per year) and Turkey (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, rising by X% against the previous year. Over the period under review, the export price continues to indicate temperate growth. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced mixed trends in the export price figures.

Piano Imports

Imports in MENA

Piano imports soared to X units in 2022, with an increase of X% on the previous year's figure. Overall, imports saw a noticeable increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, piano imports skyrocketed to $X in 2022. In general, imports showed a strong increase. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X units, which was approx. X% of total imports in 2022. Turkey (X units) held the second position in the ranking, followed by Israel (X units) and Iran (X units). All these countries together held near X% share of total imports. Morocco (X units), Qatar (X units) and Iraq (X units) took a relatively small share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Iraq (X%), Qatar (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. By contrast, Turkey (X%), Israel (X%) and Iran (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.), Qatar (X p.p.) and Iraq (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (X p.p.), Israel (X p.p.) and Iran (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported pianos and other keyboard stringed musical instruments in MENA, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports. It was followed by Israel, with a X% share.

In the United Arab Emirates, piano imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Israel (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, with a decrease of X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2021, and then reduced in the following year.

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

From 2012 to 2022, 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

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