Argentina: Upright Piano Market 2024

Upright Piano Market Size in Argentina

The Argentinian upright piano market surged to $X in 2022, picking up by 57% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a prominent increase. Upright piano consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Upright Piano Exports

Exports from Argentina

In 2022, after two years of growth, there was significant decline in shipments abroad of acoustic new upright pianos, when their volume decreased by -30% to X units. Overall, exports recorded a abrupt contraction. The growth pace was the most rapid in 2015 with an increase of 117% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, upright piano exports soared to $X in 2022. In general, exports showed a deep setback. The growth pace was the most rapid in 2015 with an increase of 85%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Guatemala (X units), the United States (X units) and Israel (X units) were the main destinations of upright piano exports from Argentina, with a combined 43% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Paraguay ($X) remains the key foreign market for acoustic new upright pianos exports from Argentina, comprising 47% of total exports. The second position in the ranking was taken by the United States ($X), with a 19% share of total exports. It was followed by Uruguay, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to Paraguay amounted to -18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-1.4% per year) and Uruguay (-15.2% per year).

Export Prices by Country

In 2022, the average upright piano export price amounted to $X per unit, jumping by 64% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt decline. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Paraguay ($X per unit), while the average price for exports to Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+6.2%), while the prices for the other major destinations experienced a decline.

Upright Piano Imports

Imports into Argentina

For the third consecutive year, Argentina recorded growth in supplies from abroad of acoustic new upright pianos, which increased by 48% to X units in 2022. In general, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 61%. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, upright piano imports surged to $X in 2022. Overall, imports showed a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 67%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X units) constituted the largest upright piano supplier to Argentina, with a 49% share of total imports. Moreover, upright piano imports from Indonesia exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. China (X units) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia totaled +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+28.2% per year) and China (+1.7% per year).

In value terms, Indonesia ($X) constituted the largest supplier of acoustic new upright pianos to Argentina, comprising 49% of total imports. The second position in the ranking was held by Japan ($X), with a 20% share of total imports. It was followed by China, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia totaled +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+25.3% per year) and China (+5.5% per year).

Import Prices by Country

In 2022, the average upright piano import price amounted to $X per unit, with an increase of 2.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 15%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for South Korea ($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 Korea (+22.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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