China - Acoustic Grand Pianos - Market Analysis, Forecast, Size, Trends And Insights
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View PricingChina's June 2023 Import of Grand Pianos Sees a Sharp Decline, Plunging to $10M
China Grand Piano Imports
In June 2023, grand piano imports into China declined to 683 units, shrinking by -5.8% on May 2023 figures. Over the period under review, imports showed a mild contraction. The pace of growth appeared the most rapid in March 2023 with an increase of 42% month-to-month. Imports peaked at 1.1K units in November 2022; however, from December 2022 to June 2023, imports failed to regain momentum.
In value terms, grand piano imports shrank dramatically to $10M (IndexBox estimates) in June 2023. Overall, imports, however, continue to indicate mild growth. The most prominent rate of growth was recorded in May 2023 when imports increased by 101% against the previous month. As a result, imports attained the peak of $13M, and then dropped rapidly in the following month.
| COUNTRY | Import Value of Grand Piano in China (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | |
| Germany | 4.4 | 6.1 | 4.7 | 3.0 | 5.0 | 6.1 | 3.4 | 3.4 | 3.5 | 4.2 | 2.2 | 8.4 | 6.0 |
| Japan | 2.9 | 2.5 | 2.9 | 3.2 | 2.9 | 3.7 | 3.3 | 2.0 | 2.3 | 4.9 | 2.5 | 2.4 | 3.2 |
| Indonesia | 1.0 | 1.1 | 1.1 | 1.0 | 1.2 | 1.8 | 0.7 | 1.1 | 1.4 | 1.2 | 1.0 | 0.6 | 0.4 |
| Others | 0.6 | 0.9 | 0.3 | 0.3 | 0.3 | 0.2 | 0.6 | 0.6 | 0.6 | 0.5 | 0.7 | 1.3 | 0.5 |
| Total | 8.9 | 10.6 | 9.0 | 7.6 | 9.5 | 11.8 | 8.0 | 7.1 | 7.8 | 10.8 | 6.4 | 12.8 | 10.1 |
Imports by Country
In June 2023, Japan (515 units) constituted the largest grand piano supplier to China, accounting for a 75% share of total imports. Moreover, grand piano imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (85 units), sixfold.
From June 2022 to June 2023, the average monthly growth rate of volume from Japan amounted to -1.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: Germany (+3.2% per month) and Indonesia (-7.9% per month).
In value terms, the largest grand piano suppliers to China were Germany ($6M), Japan ($3.2M) and Indonesia ($350K), together accounting for 95% of total imports.
In terms of the main suppliers, Germany, with a CAGR of +2.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.
Import Prices by Country
In June 2023, the grand piano price stood at $14,715 per unit (CIF, China), dropping by -16.7% against the previous month. In general, import price indicated notable growth from June 2022 to June 2023: its price increased at an average monthly rate of +2.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, grand piano import price increased by +50.0% against April 2023 indices. The growth pace was the most rapid in May 2023 an increase of 80% month-to-month. As a result, import price attained the peak level of $17.7M per thousand units, and then shrank significantly in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($70,653 per unit), while the price for Japan ($6,235 per unit) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Japan (+1.9%), while the prices for the other major suppliers experienced a decline.
This report provides an in-depth analysis of the grand piano market in China. 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 32201130 - Acoustic grand pianos (including automatic pianos)
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
