Report Update Apr 1, 2024

Mexico - Pianos and Other Keyboard Stringed Musical Instruments - Market Analysis, Forecast, Size, Trends and Insights

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Mexico: Piano Market 2024

Piano Market Size in Mexico

In 2022, the Mexican piano market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. In general, consumption, however, saw a abrupt decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Piano Exports

Exports from Mexico

Piano exports from Mexico reached X units in 2014, picking up by X% against the previous year's figure. Overall, exports, however, saw a abrupt decrease. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2014, the exports remained at a lower figure.

In value terms, piano exports expanded modestly to $X in 2014. The total export value increased at an average annual rate of X% from 2012 to 2014; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure in 2014 and are likely to continue growth in the near future.

Exports by Country

The United States (X units) was the main destination for piano exports from Mexico, accounting for a approx. X% share of total exports.

From 2012 to 2014, the average annual rate of growth in terms of volume to the United States stood at X%.

In value terms, the United States ($X) also remains the key foreign market for pianos and other keyboard stringed musical instruments exports from Mexico.

From 2012 to 2014, the average annual growth rate of value to the United States stood at X%.

Export Prices by Country

The average piano export price stood at $X per unit in 2014, with a decrease of X% against the previous year. Overall, export price indicated a significant increase from 2012 to 2014: its price increased at an average annual rate of X% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2014 figures, piano export price increased by X% against 2012 indices. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit, and then declined slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2014, the rate of growth in terms of prices for the United States amounted to X% per year.

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Piano Imports

Imports into Mexico

In 2022, overseas purchases of pianos and other keyboard stringed musical instruments were finally on the rise to reach X units after four years of decline. In general, imports, however, saw a abrupt descent. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, piano imports surged to $X in 2022. Over the period under review, imports, however, showed a abrupt slump. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X units), China (X units) and Indonesia (X units) were the main suppliers of piano imports to Mexico, together accounting for X% of total imports. Japan and Panama lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X), Indonesia ($X) and China ($X) constituted the largest piano suppliers to Mexico, with a combined X% share of total imports. Japan and Panama lagged somewhat behind, together accounting for a further X%.

Panama, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average piano import price amounted to $X per unit, growing by X% against the previous year. Overall, the import price saw a remarkable increase. The growth pace was the most rapid in 2019 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Indonesia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for pianos and other keyboard stringed musical instruments in the world?

China constituted the country with the largest volume of piano consumption, accounting for 30% of total volume. Moreover, piano consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. India ranked third in terms of total consumption with a 6.7% share.

What are the largest producers of pianos and other keyboard stringed musical instruments in the world?

The countries with the highest volumes of production in 2022 were Japan, Indonesia and India, together accounting for 47% of global production. The UK, the United States, Pakistan, Italy, Ethiopia, South Korea, Germany, Democratic Republic of the Congo and the Czech Republic lagged somewhat behind, together accounting for a further 33%.

What are the leading suppliers of pianos and other keyboard stringed musical instruments to Mexico?

In value terms, the largest piano suppliers to Mexico were the United States, Indonesia and China, with a combined 88% share of total imports. Japan and Panama lagged somewhat behind, together accounting for a further 12%.

What are the leading importers of pianos and other keyboard stringed musical instruments from Mexico?

In value terms, the United States remains the key foreign market for pianos and other keyboard stringed musical instruments exports from Mexico.

What is the average export price for pianos and other keyboard stringed musical instruments in Mexico?

The average piano export price stood at $1,708 per unit in 2014, declining by -2.1% against the previous year.

What is the average import price for pianos and other keyboard stringed musical instruments in Mexico?

In 2022, the average piano import price amounted to $2,547 per unit, rising by 9.9% against the previous year.

This report provides an in-depth analysis of the piano market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32201110 - Acoustic new upright pianos (including automatic pianos)
Prodcom 32201130 - Acoustic grand pianos (including automatic pianos)
Prodcom 32201150 - Keyboard stringed instruments (including harpsichords, s pinets and clavichords)

Country coverage:

Mexico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Mexico
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023