Africa: Keyboard Stringed Instrument Market 2024

Keyboard Stringed Instrument Market Size in Africa

The African keyboard stringed instrument market reduced to $X in 2022, dropping by -5.7% against the previous year. Overall, consumption showed a deep downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Keyboard Stringed Instrument Production in Africa

In value terms, keyboard stringed instrument production rose sharply to $X in 2022 estimated in export price. The total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.3% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 70% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Keyboard Stringed Instrument Exports

Exports in Africa

In 2022, after two years of decline, there was significant growth in shipments abroad of keyboard stringed instruments, when their volume increased by 46% to X units. Over the period under review, exports, however, saw a perceptible decrease. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, keyboard stringed instrument exports surged to $X in 2022. In general, exports, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 46%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, South Africa (X units), Mozambique (X units), Angola (X units), Nigeria (X units), Rwanda (X units), Tanzania (X units) and Zambia (X units) represented the major exporter of keyboard stringed instruments in Africa, creating 76% of total export. The following exporters - Tunisia (X units), Ghana (X units), Cote d'Ivoire (X units), Namibia (X units), Togo (X units) and Mauritius (X units) - each finished at a 12% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Angola (with a CAGR of +45.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) remains the largest keyboard stringed instrument supplier in Africa, comprising 56% of total exports. The second position in the ranking was held by Mozambique ($X), with a 7.9% share of total exports. It was followed by Nigeria, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Mozambique (+52.8% per year) and Nigeria (+39.0% per year).

Export Prices by Country

The export price in Africa stood at $X per unit in 2022, falling by -9.7% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by 92%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Mauritius ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+35.7%), while the other leaders experienced more modest paces of growth.

Keyboard Stringed Instrument Imports

Imports in Africa

Keyboard stringed instrument imports reduced to X units in 2022, with a decrease of -2.9% compared with 2021 figures. In general, imports recorded a abrupt slump. The pace of growth was the most pronounced in 2017 when imports increased by 119% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, keyboard stringed instrument imports expanded to $X in 2022. Overall, imports saw a perceptible decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 38% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Mozambique (X units) and South Africa (X units) represented the key importers of keyboard stringed instruments in Africa, together comprising 49% of total imports. Morocco (X units) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Mauritius (9.5%) and Nigeria (7.8%). The following importers - Algeria (X units), Rwanda (X units), Tunisia (X units) and Tanzania (X units) - together made up 11% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mauritius (with a CAGR of +24.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported keyboard stringed instruments in Africa, comprising 39% of total imports. The second position in the ranking was held by Morocco ($X), with an 11% share of total imports. It was followed by Mauritius, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to -7.1%. The remaining importing countries recorded the following average annual rates of imports growth: Morocco (+18.3% per year) and Mauritius (+25.4% per year).

Import Prices by Country

In 2022, the import price in Africa amounted to $X per unit, increasing by 6.4% against the previous year. Over the period under review, the import price saw a prominent increase. The pace of growth appeared the most rapid in 2018 an increase of 158% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Tunisia ($X per unit), while Mozambique ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+24.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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