Australia and Oceania: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Australia and Oceania

In 2022, the electrical musical instrument market in Australia and Oceania increased by X% to $X, rising for the seventh year in a row after three years of decline. In general, consumption, however, enjoyed a moderate expansion. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Electrical Musical Instrument Production in Australia and Oceania

In value terms, electrical musical instrument production shrank markedly to $X in 2022 estimated in export price. Over the period under review, production showed a sharp reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Electrical Musical Instrument Exports

Exports in Australia and Oceania

In 2022, overseas shipments of electrical musical or keyboard instruments increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, electrical musical instrument exports skyrocketed to $X in 2022. Overall, exports recorded strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia dominates exports structure, reaching X units, which was near X% of total exports in 2022. It was distantly followed by New Zealand (X units), making up a X% share of total exports. Fiji (X units) took a relatively small share of total exports.

Exports from Australia increased at an average annual rate of X% from 2012 to 2022. At the same time, Fiji (X%) and New Zealand (X%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of X% from 2012-2022. Fiji (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest electrical musical instrument supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was held by New Zealand ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: New Zealand (X% per year) and Fiji (X% per year).

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per unit, growing by X% against the previous year. In general, the export price, however, recorded a mild downturn. Over the period under review, the export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

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

Electrical Musical Instrument Imports

Imports in Australia and Oceania

In 2022, after four years of growth, there was significant decline in purchases abroad of electrical musical or keyboard instruments, when their volume decreased by X% to X units. Total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The volume of import peaked at X units in 2021, and then dropped markedly in the following year.

In value terms, electrical musical instrument imports expanded remarkably to $X in 2022. In general, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Australia (X units) was the largest importer of electrical musical or keyboard instruments, creating X% of total imports. It was distantly followed by New Zealand (X units), mixing up a X% share of total imports.

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

In value terms, Australia ($X) constitutes the largest market for imported electrical musical or keyboard instruments in Australia and Oceania, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with an X% share of total imports.

In Australia, electrical musical instrument imports increased at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in Australia and Oceania stood at $X per unit in 2022, surging by X% against the previous year. Import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electrical musical instrument import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Australia ($X per unit), while New Zealand amounted to $X per unit.

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

Source: IndexBox Platform

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