Australia: Upright Piano Market 2024

Upright Piano Market Size in Australia

In 2022, the Australian upright piano market increased by 5.9% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +41.6% against 2020 indices. Upright piano consumption peaked in 2022 and is likely to continue growth in the immediate term.

Upright Piano Exports

Exports from Australia

In 2022, approx. X units of acoustic new upright pianos were exported from Australia; shrinking by -69.5% on the previous year. Overall, exports saw a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 161% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, upright piano exports dropped markedly to $X in 2022. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 1,260%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X units) was the main destination for upright piano exports from Australia, accounting for a 84% share of total exports. Moreover, upright piano exports to New Zealand exceeded the volume sent to the second major destination, Germany (X units), more than tenfold. The third position in this ranking was taken by Japan (X units), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand totaled -8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+7.2% per year) and Japan (0.0% per year).

In value terms, New Zealand ($X) remains the key foreign market for acoustic new upright pianos exports from Australia, comprising 66% of total exports. The second position in the ranking was taken by Germany ($X), with a 24% share of total exports. It was followed by the United States, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value to New Zealand stood at -11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+8.2% per year) and the United States (-22.3% per year).

Export Prices by Country

In 2022, the average upright piano export price amounted to $X per unit, jumping by 73% against the previous year. Over the period under review, the export price, however, showed a slight reduction. The most prominent rate of growth was recorded in 2014 an increase of 421% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Solomon Islands ($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 Lebanon (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Upright Piano Imports

Imports into Australia

In 2022, approx. X units of acoustic new upright pianos were imported into Australia; remaining constant against the previous year. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 29%. As a result, imports reached the peak of X units, leveling off in the following year.

In value terms, upright piano imports rose sharply to $X in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 34% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of upright piano to Australia, accounting for a 66% share of total imports. Moreover, upright piano imports from Japan exceeded the figures recorded by the second-largest supplier, Indonesia (X units), fivefold. The third position in this ranking was taken by China (X units), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume from Japan stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-0.3% per year) and China (-6.7% per year).

In value terms, Japan ($X) constituted the largest supplier of acoustic new upright pianos to Australia, comprising 68% of total imports. The second position in the ranking was held by Indonesia ($X), with an 11% share of total imports. It was followed by China, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+0.9% per year) and China (-0.2% per year).

Import Prices by Country

The average upright piano import price stood at $X per unit in 2022, with an increase of 6% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The pace of growth was the most pronounced in 2016 an increase of 15% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

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 Germany ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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