Australia and Oceania: Upright Piano Market 2024

Upright Piano Market Size in Australia and Oceania

The upright piano market in Australia and Oceania declined modestly to $X in 2022, reducing by -2.7% against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +28.9% against 2020 indices. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Upright Piano Production in Australia and Oceania

In value terms, upright piano production rose slightly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 -3.3% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 61%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Upright Piano Exports

Exports in Australia and Oceania

Upright piano exports dropped markedly to X units in 2022, shrinking by -67.2% compared with the previous year's figure. Overall, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 85% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, upright piano exports fell significantly to $X in 2022. Over the period under review, exports faced a abrupt descent. The growth pace was the most rapid in 2014 with an increase of 386%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Australia was the main exporting country with an export of around X units, which finished at 80% of total exports. New Zealand (X units) held the second position in the ranking, distantly followed by New Caledonia (X units). All these countries together took near 18% share of total exports. Guam (X units) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the acoustic new upright pianos exports, with a CAGR of -8.6% from 2012 to 2022. New Caledonia (-8.8%), Guam (-12.9%) and New Zealand (-14.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Australia increased by +9.5 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest upright piano supplier in Australia and Oceania, comprising 91% of total exports. The second position in the ranking was held by New Caledonia ($X), with a 5.2% share of total exports. It was followed by New Zealand, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia totaled -9.7%. In the other countries, the average annual rates were as follows: New Caledonia (-10.7% per year) and New Zealand (-20.1% per year).

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per unit, surging by 54% against the previous year. Overall, the export price, however, recorded a mild shrinkage. The growth pace was the most rapid in 2014 an increase of 163% against the previous year. The level of export 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 origin: amid the top suppliers, the country with the highest price was Australia ($X per unit), while Guam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (-1.2%), while the other leaders experienced a decline in the export price figures.

Upright Piano Imports

Imports in Australia and Oceania

In 2022, approx. X units of acoustic new upright pianos were imported in Australia and Oceania; shrinking by -6.5% compared with the year before. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 25% against the previous year. As a result, imports reached the peak of X units, and then reduced in the following year.

In value terms, upright piano imports reduced slightly to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +31.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 37%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, Australia (X units) represented the main importer of acoustic new upright pianos, making up 84% of total imports. It was distantly followed by New Zealand (X units), comprising a 15% share of total imports.

Imports into Australia increased at an average annual rate of +1.8% from 2012 to 2022. At the same time, New Zealand (+3.4%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +3.4% from 2012-2022. From 2012 to 2022, the share of New Zealand increased by +2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported acoustic new upright pianos in Australia and Oceania, comprising 87% of total imports. The second position in the ranking was held by New Zealand ($X), with a 12% share of total imports.

In Australia, upright piano imports increased at an average annual rate of +5.1% over the period from 2012-2022.

Import Prices by Country

The import price in Australia and Oceania stood at $X per unit in 2022, picking up by 2.6% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2016 when the import price increased by 12%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per unit), while New Zealand stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.3%).

Source: IndexBox Platform

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