Australia: Piano Market 2024

Piano Market Size in Australia

In 2021, the Australian piano market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Piano Exports

Exports from Australia

In 2021, exports of pianos and other keyboard stringed musical instruments from Australia declined rapidly to X tons, shrinking by -53.5% on the year before. Overall, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2019 when exports increased by 48% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, piano exports reduced sharply to $X in 2021. Over the period under review, exports saw a perceptible descent. The pace of growth was the most pronounced in 2016 when exports increased by 57%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X tons) was the main destination for piano exports from Australia, with a 74% share of total exports. Moreover, piano exports to New Zealand exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold. The third position in this ranking was taken by the United Arab Emirates (X kg), with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to New Zealand stood at -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+8.7% per year) and the United Arab Emirates (+12.1% per year).

In value terms, New Zealand ($X) remains the key foreign market for pianos and other keyboard stringed musical instruments exports from Australia, comprising 71% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total exports. It was followed by Vietnam, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+4.2% per year) and Vietnam (+100.9% per year).

Export Prices by Country

In 2021, the average piano export price amounted to $X per ton, rising by 45% against the previous year. Overall, the export price saw buoyant growth. The growth pace was the most rapid in 2018 when the average export price increased by 118%. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+84.8%), while the prices for the other major destinations experienced more modest paces of growth.

Piano Imports

Imports into Australia

In 2021, purchases abroad of pianos and other keyboard stringed musical instruments was finally on the rise to reach X tons after three years of decline. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, piano imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of piano to Australia, accounting for a 62% share of total imports. Moreover, piano imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. The third position in this ranking was held by China (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan amounted to +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.1% per year) and China (-5.1% per year).

In value terms, Japan ($X) constituted the largest supplier of pianos and other keyboard stringed musical instruments to Australia, comprising 60% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Indonesia, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.5% per year) and Indonesia (+1.6% per year).

Import Prices by Country

In 2021, the average piano import price amounted to $X per ton, picking up by 2.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2016 an increase of 21% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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