Belgium: Grand Piano Market 2024

Grand Piano Market Size in Belgium

In 2021, the Belgian grand piano market decreased by -7.3% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption enjoyed a modest expansion. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Grand Piano Exports

Exports from Belgium

In 2021, approx. X tons of acoustic grand pianos were exported from Belgium; rising by 48% on 2020. Over the period under review, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2015 when exports increased by 98% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, grand piano exports surged to $X in 2021. In general, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% 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 +86.4% against 2017 indices. The growth pace was the most rapid in 2015 with an increase of 69% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

France (X tons) was the main destination for grand piano exports from Belgium, with a 47% share of total exports. Moreover, grand piano exports to France exceeded the volume sent to the second major destination, Italy (X tons), fourfold. Spain (X tons) ranked third in terms of total exports with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume to France stood at +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+20.0% per year) and Spain (+21.1% per year).

In value terms, France ($X) remains the key foreign market for acoustic grand pianos exports from Belgium, comprising 40% of total exports. The second position in the ranking was held by Spain ($X), with a 15% share of total exports. It was followed by Italy, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France stood at +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+19.9% per year) and Italy (+14.2% per year).

Export Prices by Country

In 2021, the average grand piano export price amounted to $X per ton, surging by 5.6% against the previous year. Overall, the export price, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2019 an increase of 23% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the Netherlands ($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 Morocco (+10.9%), while the prices for the other major destinations experienced a decline.

Grand Piano Imports

Imports into Belgium

In 2021, overseas purchases of acoustic grand pianos increased by 14% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 144% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, grand piano imports fell to $X in 2021. In general, total imports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +102.8% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of 99% against the previous year. Imports peaked at $X in 2020, and then declined in the following year.

Imports by Country

Japan (X tons), China (X tons) and Germany (X tons) were the main suppliers of grand piano imports to Belgium, together comprising 69% of total imports. These countries were followed by Italy, Vietnam, the Netherlands and Indonesia, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +336,200.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest grand piano suppliers to Belgium were Germany ($X), Japan ($X) and the Netherlands ($X), with a combined 77% share of total imports. China, Italy, Vietnam and Indonesia lagged somewhat behind, together comprising a further 21%.

In terms of the main suppliers, Italy, with a CAGR of +310,370.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average grand piano import price stood at $X per ton in 2021, reducing by -20.3% against the previous year. In general, the import price continues to indicate a pronounced setback. The pace of growth was the most pronounced in 2016 when the average import price increased by 63% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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