Asia-Pacific: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Asia-Pacific

The Asia-Pacific percussion musical instrument market contracted to $X in 2022, reducing by -2% against the previous year. Overall, consumption continues to indicate a abrupt setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Percussion Musical Instrument Production in Asia-Pacific

In value terms, percussion musical instrument production stood at $X in 2022 estimated in export price. In general, production recorded a abrupt curtailment. The growth pace was the most rapid in 2020 with an increase of 3.1%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Percussion Musical Instrument Exports

Exports in Asia-Pacific

In 2022, approx. X units of percussion musical instruments were exported in Asia-Pacific; growing by 7.8% on the previous year's figure. Overall, exports, however, saw a noticeable curtailment. The pace of growth was the most pronounced in 2021 with an increase of 21% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, percussion musical instrument exports stood at $X in 2022. The total export value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 26% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

China dominates exports structure, reaching X units, which was approx. 77% of total exports in 2022. Taiwan (Chinese) (X units) took the second position in the ranking, followed by Thailand (X units). All these countries together held near 14% share of total exports. India (X units) and Nepal (X units) held a little share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of percussion musical instruments. At the same time, Nepal (+16.3%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +16.3% from 2012-2022. India experienced a relatively flat trend pattern. By contrast, Thailand (-1.6%) and Taiwan (Chinese) (-14.4%) illustrated a downward trend over the same period. While the share of China (+18 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-20 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest percussion musical instrument supplier in Asia-Pacific, comprising 69% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 13% share of total exports. It was followed by Thailand, with a 5.9% share.

In China, percussion musical instrument exports increased at an average annual rate of +3.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (-2.6% per year) and Thailand (-2.2% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, rising by 3.7% against the previous year. Over the last decade, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2013 an increase of 16%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.8%), while the other leaders experienced mixed trends in the export price figures.

Percussion Musical Instrument Imports

Imports in Asia-Pacific

In 2022, approx. X units of percussion musical instruments were imported in Asia-Pacific; with a decrease of -14.6% against the previous year. Over the period under review, imports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 67% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, percussion musical instrument imports shrank to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 32% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units), distantly followed by Australia (X units), Japan (X units), South Korea (X units), Malaysia (X units) and Taiwan (Chinese) (X units) represented the major importers of percussion musical instruments, together comprising 87% of total imports. Thailand (X units) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +12.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest percussion musical instrument importing markets in Asia-Pacific were Japan ($X), South Korea ($X) and China ($X), with a combined 52% share of total imports.

China, with a CAGR of +7.8%, saw the highest growth rate of 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 2022, the import price in Asia-Pacific amounted to $X per unit, rising by 8.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 when the import price increased by 16%. The level of import peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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