Africa: Grand Piano Market 2024

Grand Piano Market Size in Africa

The African grand piano market surged to $X in 2021, rising by 25% against the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Grand Piano Production in Africa

In value terms, grand piano production rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 28% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Grand Piano Exports

Exports in Africa

In 2021, overseas shipments of acoustic grand pianos increased by 340% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a relatively flat trend pattern. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, grand piano exports skyrocketed to $X in 2021. Overall, exports posted resilient growth. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Africa prevails in exports structure, accounting for X tons, which was near 85% of total exports in 2021. It was distantly followed by Ghana (X kg), creating a 4.5% share of total exports. The following exporters - Zimbabwe (X kg), Egypt (X kg) and Tunisia (X kg) - together made up 7.1% of total exports.

Exports from South Africa increased at an average annual rate of +1.3% from 2012 to 2021. At the same time, Ghana (+16.9%) and Egypt (+3.2%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Africa, with a CAGR of +16.9% from 2012-2021. By contrast, Zimbabwe (-2.0%) and Tunisia (-16.5%) illustrated a downward trend over the same period. While the share of South Africa (+9.6 p.p.) and Ghana (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Tunisia (-7.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest grand piano supplier in Africa, comprising 94% of total exports. The second position in the ranking was held by Ghana ($X), with a 2% share of total exports. It was followed by Egypt, with a 1.3% share.

In South Africa, grand piano exports increased at an average annual rate of +7.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+18.6% per year) and Egypt (+6.7% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, growing by 52% against the previous year. Over the period under review, the export price posted a resilient increase. The pace of growth appeared the most rapid in 2019 an increase of 165% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Africa ($X per ton), while Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+5.8%), while the other leaders experienced more modest paces of growth.

Grand Piano Imports

Imports in Africa

In 2021, approx. X tons of acoustic grand pianos were imported in Africa; jumping by 31% compared with 2020 figures. In general, imports, however, continue to indicate a mild contraction. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, grand piano imports soared to $X in 2021. The total import value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Africa (X tons) and Morocco (X tons) represented the key importers of acoustic grand pianos in Africa, together recording approx. 58% of total imports. Nigeria (X tons) held a 9.4% share (based on physical terms) of total imports, which put it in second place, followed by Egypt (4.7%). Seychelles (X tons), Tanzania (X tons), Mauritius (X tons), Uganda (X tons), Ethiopia (X tons), Angola (X tons) and Kenya (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Uganda (with a CAGR of +62.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Morocco ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 71% of total imports. These countries were followed by Egypt, Seychelles, Angola, Ethiopia, Mauritius, Kenya, Uganda and Tanzania, which together accounted for a further 14%.

Seychelles, with a CAGR of +32.1%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, with an increase of 2.4% against the previous year. Import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grand piano import price increased by +42.9% against 2013 indices. The most prominent rate of growth was recorded in 2016 when the import price increased by 24%. Over the period under review, import prices attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Nigeria ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+15.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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