Report U.S. Musical Instruments Market. Analysis and Forecast to 2025 for 499$
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U.S. Musical Instruments Market. Analysis and Forecast to 2025
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U.S.: Musical Instrument Market 2022

Musical Instrument Market Size in the U.S.

The U.S. musical instrument market rose notably to $X in 2021, surging by 12% against the previous year. The market value increased at an average annual rate of +3.4% over the period from 2013 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Musical Instrument Production in the U.S.

In value terms, musical instrument production dropped to $X in 2021. The total output value increased at an average annual rate of +3.1% over the period from 2013 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when the production volume increased by 12% against the previous year. As a result, production attained the peak level of $X, and then contracted in the following year.

Musical Instrument Exports

Exports from the U.S.

In 2021, overseas shipments of musical instruments increased by 23% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, exports saw significant growth. The pace of growth was the most pronounced in 2020 with an increase of 353% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, musical instrument exports surged to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons), Japan (X tons) and the Netherlands (X tons) were the main destinations of musical instrument exports from the United States, with a combined 42% share of total exports. These countries were followed by Germany, the UK, Australia, China, Hong Kong SAR, Mexico, South Korea, France and Indonesia, which together accounted for a further 41%.

From 2013 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +37.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for musical instrument exported from the United States were Canada ($X), Japan ($X) and the Netherlands ($X), together comprising 42% of total exports. Germany, the UK, Australia, China, Hong Kong SAR, Mexico, South Korea, France and Indonesia lagged somewhat behind, together comprising a further 41%.

Among the main countries of destination, China, with a CAGR of +11.9%, recorded the highest growth rate of 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

In 2021, the average musical instrument export price amounted to $X per ton, standing approx. at the previous year. In general, the export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2016 an increase of 9.8%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, the countries with the highest prices were Mexico ($X per ton) and Germany ($X per ton), while the average price for exports to France ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-12.7%), while the prices for the other major destinations experienced a decline.

Musical Instrument Imports

Imports into the U.S.

In 2021, overseas purchases of musical instruments increased by 26% to X tons, rising for the fourth consecutive year after three years of decline. In general, imports saw strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 134% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, musical instrument imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.0% over the period from 2013 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest musical instrument supplier to the United States, accounting for a 40% share of total imports. Moreover, musical instrument imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. Mexico (X tons) ranked third in terms of total imports with an 8.3% share.

From 2013 to 2021, the average annual rate of growth in terms of volume from China totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+14.5% per year) and Mexico (+30.4% per year).

In value terms, China ($X) constituted the largest supplier of musical instrument to the United States, comprising 39% of total imports. The second position in the ranking was held by Indonesia ($X), with a 12% share of total imports. It was followed by Mexico, with an 8.3% share.

From 2013 to 2021, the average annual growth rate of value from China stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+3.1% per year) and Mexico (+7.5% per year).

Import Prices by Country

In 2021, the average musical instrument import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price recorded a abrupt descent. The pace of growth was the most pronounced in 2017 when the average import price increased by 6.6% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Germany ($X per ton) and Malaysia ($X per ton), while the price for South Korea ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by China (-7.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the leading suppliers of musical instruments to the U.S.?
+
In value terms, China constituted the largest supplier of musical instrument to the United States, comprising 39% of total imports. The second position in the ranking was held by Indonesia, with a 12% share of total imports. It was followed by Mexico, with an 8.3% share.
What are the leading importers of musical instruments from the U.S.?
+
In value terms, the largest markets for musical instrument exported from the United States were Canada, Japan and the Netherlands, together accounting for 42% of total exports. Germany, the UK, Australia, China, Hong Kong SAR, Mexico, South Korea, France and Indonesia lagged somewhat behind, together comprising a further 41%.
What is the average export price for musical instruments in the U.S.?
+
In 2021, the average musical instrument export price amounted to $6,243 per ton, approximately reflecting the previous year.
What is the average import price for musical instruments in the U.S.?
+
The average musical instrument import price stood at $6,250 per ton in 2021, approximately mirroring the previous year.

This report provides an in-depth analysis of the musical instrument market in the U.S.. 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:
• NAICS 339992 - Musical instrument manufacturing
Country coverage:
• United States

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption In 2007-2021
Table 5:
Imports, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Value Terms, By Country, 2012–2021
Table 7:
Import Prices, By Country Of Origin, 2012–2021
Table 8:
Exports, In Physical Terms, By Country, 2012–2021
Table 9:
Exports, In Value Terms, By Country, 2012–2021
Table 10:
Export Prices, By Country Of Destination, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2021
Figure 5:
Trade Balance, In Physical Terms, 2007-2021
Figure 6:
Trade Balance, In Value Terms, 2007-2021
Figure 7:
Per Capita Consumption, 2007-2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2021
Figure 21:
Production, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, 2012–2021
Figure 23:
Imports, In Value Terms, 2012–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2012–2021
Figure 26:
Imports, In Value Terms, By Country, 2012–2021
Figure 27:
Import Prices, By Country Of Origin, 2012–2021
Figure 28:
Exports, In Physical Terms, 2012–2021
Figure 29:
Exports, In Value Terms, 2012–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2012–2021
Figure 32:
Exports, In Value Terms, By Country, 2012–2021
Figure 33:
Export Prices, By Country Of Destination, 2012–2021
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