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U.S. - Electrical Musical Or Keyboard Instruments - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

U.S. - Electrical Musical Or Keyboard Instruments - Market Analysis, Forecast, Size, Trends And Insights

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Aug 28, 2023

Imports of Electric Musical Instruments in June 2023 Increase by 12% to $41M in the United States

U.S. Electrical Musical Instrument Imports

In June 2023, approximately 234K units of electrical musical or keyboard instruments were imported into the United States; increasing by 22% compared with May 2023. Overall, imports, however, continue to indicate a pronounced contraction. The pace of growth was the most pronounced in July 2022 when imports increased by 61% month-to-month. As a result, imports attained the peak of 637K units. From August 2022 to June 2023, the growth of imports remained at a somewhat lower figure.

In value terms, electrical musical instrument imports expanded markedly to $41M (IndexBox estimates) in June 2023. Over the period under review, imports, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in July 2022 when imports increased by 51% m-o-m. As a result, imports attained the peak of $103M. From August 2022 to June 2023, the growth of imports failed to regain momentum. U.S. Electrical Musical Instrument Imports By Country (Million USD)

COUNTRYImport Value of Electrical Musical Instrument in U.S. (million USD)
Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023
China24.455.330.925.522.316.016.313.817.511.713.311.916.0
Indonesia16.224.118.014.814.319.213.812.812.417.49.610.68.1
Mexico8.37.65.15.13.54.21.24.24.45.54.44.45.2
Others19.416.216.413.815.212.913.48.910.412.211.49.812.0
Total68.310370.459.355.252.344.739.744.746.938.636.841.3

Imports by Country

In June 2023, China (145K units) constituted the largest supplier of electrical musical instrument to the United States, accounting for a 62% share of total imports. Moreover, electrical musical instrument imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (34K units), fourfold.

From June 2022 to June 2023, the average monthly rate of growth in terms of volume from China stood at -2.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Indonesia (-8.1% per month) and Mexico (-5.4% per month).

In value terms, the largest electrical musical instrument suppliers to the United States were China ($16M), Indonesia ($8.1M) and Mexico ($5.2M), with a combined 71% share of total imports.

In terms of the main suppliers, China, with a CAGR of -3.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Imports by Type

Non-keyboard electrical musical instruments (150K units) and keyboard electrical musical instruments, other than accordions (85K units) were the main products of electrical musical instrument imports to the United States.

From June 2022 to June 2023, the biggest increases were in keyboard electrical musical instruments, other than accordions (with a CAGR of -1.0%).

In value terms, the most traded types of electrical musical or keyboard instruments in the United States were non-keyboard electrical musical instruments ($26M) and keyboard electrical musical instruments, other than accordions ($15M).

Import Prices by Country

In June 2023, the electrical musical instrument price amounted to $176 per unit (CIF, US), declining by -7.5% against the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in October 2022 when the average import price increased by 33% against the previous month. Over the period under review, average import prices attained the peak figure at $259 per unit in March 2023; however, from April 2023 to June 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($485 per unit), while the price for the Philippines ($59.0 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 Germany (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the electrical 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:

  • Prodcom 32201400 - Musical or keyboard instruments, the sound of which is produced, or must be amplified, electrically

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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 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

  12. 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

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