Austria: Grand Piano Market 2024

Grand Piano Market Size in Austria

After three years of decline, the Austrian grand piano market increased by 1,068% to $X in 2021. In general, consumption continues to indicate a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Grand Piano Production in Austria

In value terms, grand piano production contracted remarkably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 100% against the previous year. As a result, production attained the peak level of $X, and then declined markedly in the following year.

Grand Piano Exports

Exports from Austria

In 2021, shipments abroad of acoustic grand pianos decreased by -30.7% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2020 with an increase of 97% against the previous year. As a result, the exports attained the peak of X tons, and then declined significantly in the following year.

In value terms, grand piano exports reduced rapidly to $X in 2021. Over the period under review, total exports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +49.4% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 104% against the previous year. As a result, the exports attained the peak of $X, and then shrank sharply in the following year.

Exports by Country

Germany (X tons) was the main destination for grand piano exports from Austria, accounting for a 47% share of total exports. Moreover, grand piano exports to Germany exceeded the volume sent to the second major destination, the United States (X tons), fivefold. China (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-12.4% per year) and China (-0.6% per year).

In value terms, Germany ($X) remains the key foreign market for acoustic grand pianos exports from Austria, comprising 47% of total exports. The second position in the ranking was held by the United States ($X), with a 9.9% share of total exports. It was followed by Egypt, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-11.6% per year) and Egypt (+60.6% per year).

Export Prices by Country

The average grand piano export price stood at $X per ton in 2021, leveling off at the previous year. Over the last nine years, it increased at an average annual rate of +4.1%. The growth pace was the most rapid in 2014 an increase of 25%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per ton), while the average price for exports to Spain ($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 Poland (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.

Grand Piano Imports

Imports into Austria

In 2021, purchases abroad of acoustic grand pianos was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, recorded a noticeable decline. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, grand piano imports soared to $X in 2021. In general, imports saw a slight increase. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of grand piano to Austria, accounting for a 83% share of total imports. Moreover, grand piano imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.0% per year) and France (0.0% per year).

In value terms, Germany ($X) constituted the largest supplier of acoustic grand pianos to Austria, comprising 91% of total imports. The second position in the ranking was held by France ($X), with a 2.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (0.0% per year) and China (-4.1% per year).

Import Prices by Country

The average grand piano import price stood at $X per ton in 2021, surging by 13% against the previous year. In general, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grand piano import price increased by +125.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 100% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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