Southern Asia: Piano Market 2024

Piano Market Size in Southern Asia

The South Asian piano market fell to $X in 2022, leveling off at the previous year. Overall, consumption continues to indicate a perceptible contraction. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Piano Production in Southern Asia

In value terms, piano production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Piano Exports

Exports in Southern Asia

For the third consecutive year, Southern Asia recorded decline in shipments abroad of pianos and other keyboard stringed musical instruments, which decreased by X% to X units in 2022. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, piano exports declined sharply to $X in 2022. In general, exports saw a perceptible shrinkage. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India dominates exports structure, resulting at X units, which was approx. X% of total exports in 2022. It was distantly followed by Sri Lanka (X units), achieving a X% share of total exports. Bangladesh (X units) followed a long way behind the leaders.

Exports from India decreased at an average annual rate of X% from 2012 to 2022. At the same time, Bangladesh (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2022. By contrast, Sri Lanka (X%) illustrated a downward trend over the same period. India (X p.p.), Sri Lanka (X p.p.) and Bangladesh (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest piano supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a X% share of total exports.

In India, piano exports decreased by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Sri Lanka (X% per year) and Bangladesh (X% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, surging by X% against the previous year. Overall, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the export prices remained 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 India ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

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

Piano Imports

Imports in Southern Asia

Piano imports fell rapidly to X units in 2022, with a decrease of X% on the previous year's figure. In general, imports showed a noticeable decline. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, piano imports reduced markedly to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then shrank significantly in the following year.

Imports by Country

India dominates imports structure, finishing at X units, which was approx. X% of total imports in 2022. Sri Lanka (X units) ranks second in terms of the total imports with a X% share, followed by Pakistan (X%). Bangladesh (X units), Maldives (X units) and Nepal (X units) followed a long way behind the leaders.

Imports into India decreased at an average annual rate of X% from 2012 to 2022. At the same time, Pakistan (X%) and Maldives (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. By contrast, Nepal (X%), Sri Lanka (X%) and Bangladesh (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Pakistan increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported pianos and other keyboard stringed musical instruments in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Pakistan ($X), with a X% share of total imports. It was followed by Nepal, with a X% share.

In India, piano imports expanded 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: Pakistan (X% per year) and Nepal (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :