Austria: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Austria

In 2022, the Austrian electrical musical instrument market decreased by X% to $X for the first time since 2015, thus ending a six-year rising trend. Over the period under review, consumption, however, enjoyed a buoyant expansion. As a result, consumption reached the peak level of $X, and then contracted sharply in the following year.

Electrical Musical Instrument Exports

Exports from Austria

In 2022, overseas shipments of electrical musical or keyboard instruments increased by X% to X units, rising for the third consecutive year after two years of decline. In general, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2020 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, electrical musical instrument exports expanded markedly to $X in 2022. Over the period under review, exports recorded a prominent increase. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X units), Poland (X units) and the United States (X units) were the main destinations of electrical musical instrument exports from Austria, with a combined X% share of total exports. Canada, the UK, Liechtenstein, Slovakia, Switzerland and Denmark lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Canada ($X) constituted the largest markets for electrical musical instrument exported from Austria worldwide, with a combined X% share of total exports. Poland, the UK, Switzerland, Slovakia, Liechtenstein and Denmark lagged somewhat behind, together comprising a further X%.

Denmark, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electrical musical instrument export price stood at $X per unit in 2022, increasing by X% against the previous year. Over the period under review, export price indicated a resilient increase 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 export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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

Electrical Musical Instrument Imports

Imports into Austria

In 2022, after three years of growth, there was decline in supplies from abroad of electrical musical or keyboard instruments, when their volume decreased by X% to X units. Over the period under review, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at X units in 2021, and then declined slightly in the following year.

In value terms, electrical musical instrument imports fell significantly to $X in 2022. In general, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then contracted notably in the following year.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of electrical musical instrument to Austria, with a X% share of total imports. Moreover, electrical musical instrument imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X units), more than tenfold. Belgium (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Belgium (X% per year).

In value terms, Germany ($X) constituted the largest supplier of electrical musical or keyboard instruments to Austria, comprising X% of total imports. The second position in the ranking was held by Belgium ($X), with a X% share of total imports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Poland (X% per year).

Import Prices by Country

In 2022, the average electrical musical instrument import price amounted to $X per unit, falling by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Indonesia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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