South-Eastern Asia: Upright Piano Market 2024

Upright Piano Market Size in South-Eastern Asia

In 2022, after five years of growth, there was significant decline in the Southeast Asian upright piano market, when its value decreased by X% to $X. Overall, consumption continues to indicate a abrupt shrinkage. Over the period under review, the market attained the peak level at $X in 2021, and then plummeted in the following year.

Upright Piano Production in South-Eastern Asia

In value terms, upright piano production dropped slightly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

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Upright Piano Exports

Exports in South-Eastern Asia

Upright piano exports surged to X units in 2022, jumping by X% compared with 2021 figures. In general, exports, however, showed a mild descent. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, upright piano exports reached $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia dominates exports structure, amounting to X units, which was approx. X% of total exports in 2022. It was distantly followed by Malaysia (X units) and Vietnam (X units), together creating a X% share of total exports.

Exports from Indonesia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest upright piano supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports.

In Indonesia, upright piano exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, dropping by X% against the previous year. Over the period under review, the export price, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per unit in 2021, and then declined significantly in the following year.

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

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

Upright Piano Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of acoustic new upright pianos increased by X% to X units, rising for the second year in a row after three years of decline. Over the period under review, imports, however, continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, upright piano imports skyrocketed to $X in 2022. Overall, imports, however, showed a noticeable downturn. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X units), distantly followed by Vietnam (X units), Thailand (X units), the Philippines (X units) and Singapore (X units) were the main importers of acoustic new upright pianos, together generating X% of total imports. Cambodia (X units) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Vietnam ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Thailand, the Philippines and Cambodia lagged somewhat behind, together accounting for a further X%.

Cambodia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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