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Canada - Electrical Musical Or Keyboard Instruments - Market Analysis, Forecast, Size, Trends And Insights

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May 11, 2023

Electrical Musical Instrument Price in Canada - 2023

Price Forecast for Electrical Musical Or Keyboard Instruments in Canada till 2025

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Electrical Musical Instrument Price in Canada (CIF) - 2023

In February 2023, the average electrical musical instrument import price amounted to $272 per unit, declining by -28.1% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in January 2023 an increase of 69% m-o-m. Over the period under review, average import prices attained the peak figure at $395 per unit in July 2022; however, from August 2022 to February 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In February 2023, the country with the highest price was Mexico ($672 per unit), while the price for the Philippines ($57.9 per unit) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Electrical Musical Instrument Price in Canada (FOB) - 2023

In February 2023, the average electrical musical instrument export price amounted to $533 per unit, surging by 138% against the previous month. In general, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $1,132 per unit in September 2022; however, from October 2022 to February 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In February 2023, the country with the highest price was Germany ($1,482 per unit), while the average price for exports to the UK ($193 per unit) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+36.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Musical Instrument Imports in Canada

Electrical musical instrument imports into Canada soared to 3.1M units in 2022, growing by 31% compared with the year before. The total import volume increased at an average annual rate of +11.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, electrical musical instrument imports surged to $132M in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +19.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.7% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Electrical Musical or Keyboard Instruments in Canada (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	26.6	28.5	34.1	45.5	19.6%
United States	18.4	17.4	20.1	28.9	16.2%
Indonesia	14.9	15.2	19.7	27.1	22.1%
Mexico	5.0	4.5	7.1	10.4	27.7%
Malaysia	6.4	6.3	6.3	8.3	9.1%
Japan	2.2	1.9	2.4	3.3	14.5%
Others	4.8	4.4	6.4	8.6	21.5%
Total	78.3	78.2	96.0	132	19.0%

Top Suppliers of Electrical Musical or Keyboard Instruments to Canada in 2022:

China (1280.4K units)
Indonesia (634.0K units)
United States (489.5K units)
Malaysia (264.5K units)
Mexico (141.7K units)
Japan (72.4K units)

Electrical Musical Instrument Exports in Canada

In 2022, approx. 114K units of electrical musical or keyboard instruments were exported from Canada; surging by 11% on 2021. Overall, exports, however, continue to indicate a perceptible setback. The growth pace was the most rapid in 2020 with an increase of 32% against the previous year. As a result, the exports reached the peak of 161K units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, electrical musical instrument exports expanded to $11M in 2022. The total export value increased at an average annual rate of +4.0% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 17% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Export of Electrical Musical or Keyboard Instruments in Canada (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	3,500	4,169	5,218	5,134	13.6%
Netherlands	218	794	1,135	1,095	71.3%
United Kingdom	768	680	687	726	-1.9%
Germany	621	663	614	592	-1.6%
Japan	790	575	445	563	-10.7%
France	494	286	443	421	-5.2%
Spain	149	69.1	287	277	23.0%
Australia	204	170	214	207	0.5%
Peru	291	187	138	191	-13.1%
Chile	449	66.3	77.9	184	-25.7%
Hong Kong SAR	359	118	101	171	-21.9%
Others	1,751	1,199	1,108	1,224	-11.3%
Total	9,596	8,977	10,468	10,785	4.0%

Top Export Markets for Electrical Musical or Keyboard Instruments from Canada in 2022:

United States (52.8K units)
United Kingdom (9.6K units)
Netherlands (9.2K units)
Germany (6.9K units)
Japan (6.7K units)
France (4.2K units)
Peru (2.3K units)
Spain (2.3K units)
Australia (2.1K units)
Chile (2.1K units)
Hong Kong SAR (2.0K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the electrical musical instrument market in Canada. 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:

Canada

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Canada
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.

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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
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
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