Austria: Piano Market 2024

Piano Market Size in Austria

The Austrian piano market soared to $X in 2021, picking up by 39% against the previous year. Overall, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Piano Production in Austria

In value terms, piano production amounted to $X in 2021 estimated in export price. In general, production recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 86%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Piano Exports

Exports from Austria

In 2021, exports of pianos and other keyboard stringed musical instruments from Austria dropped to X tons, declining by -11.3% compared with the previous year's figure. Over the period under review, exports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2020 with an increase of 109%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, piano exports contracted remarkably to $X in 2021. In general, total exports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +69.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 113% against the previous year. As a result, the exports reached the peak of $X, and then dropped rapidly in the following year.

Exports by Country

Germany (X tons), Egypt (X tons) and the United States (X tons) were the main destinations of piano exports from Austria, with a combined 61% share of total exports. These countries were followed by China, Japan, Italy, Switzerland, Spain, North Macedonia and Taiwan (Chinese), which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for North Macedonia (with a CAGR of +72.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for pianos and other keyboard stringed musical instruments exports from Austria, comprising 41% of total exports. The second position in the ranking was taken by the United States ($X), with a 12% share of total exports. It was followed by Egypt, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-7.0% per year) and Egypt (+162.6% per year).

Export Prices by Country

The average piano export price stood at $X per ton in 2021, with a decrease of -10.2% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the average export price increased by 54%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to North Macedonia ($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 Egypt (+52.7%), while the prices for the other major destinations experienced more modest paces of growth.

Piano Imports

Imports into Austria

In 2021, after three years of decline, there was significant growth in purchases abroad of pianos and other keyboard stringed musical instruments, when their volume increased by 74% to X tons. Over the period under review, imports, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of 80% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, piano imports skyrocketed to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. 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 piano supplier to Austria, accounting for a 76% share of total imports. Moreover, piano imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.2% per year) and Japan (-54.7% per year).

In value terms, Germany ($X) constituted the largest supplier of pianos and other keyboard stringed musical instruments to Austria, comprising 90% of total imports. The second position in the ranking was taken by China ($X), with a 5.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.0% per year) and Japan (-51.3% per year).

Import Prices by Country

In 2021, the average piano import price amounted to $X per ton, increasing by 69% against the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, piano import price increased by +112.3% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+7.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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