Belgium: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Belgium

The Belgian percussion musical instrument market reduced remarkably to $X in 2022, dropping by -33.7% against the previous year. Overall, consumption saw a drastic downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Percussion Musical Instrument Production in Belgium

In value terms, percussion musical instrument production reduced to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the production volume increased by 12% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Percussion Musical Instrument Exports

Exports from Belgium

In 2022, shipments abroad of percussion musical instruments decreased by -42.2% to X units, falling for the second year in a row after three years of growth. In general, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of 75% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, percussion musical instrument exports dropped markedly to $X in 2022. Overall, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2020 when exports increased by 40%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X units), the Netherlands (X units) and Germany (X units) were the main destinations of percussion musical instrument exports from Belgium, together comprising 48% of total exports. India, the UK, Poland, the Czech Republic, Ireland, Democratic Republic of the Congo, Switzerland and Austria lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +380.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for percussion musical instrument exported from Belgium were France ($X), the Netherlands ($X) and Germany ($X), together accounting for 48% of total exports. India, the UK, Poland, the Czech Republic, Ireland, Democratic Republic of the Congo, Switzerland and Austria lagged somewhat behind, together comprising a further 38%.

India, with a CAGR of +371.8%, saw the highest rates of growth with regard to the value of exports, among 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 percussion musical instrument export price stood at $X per unit in 2022, jumping by 27% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, percussion musical instrument export price increased by +65.7% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 38% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Democratic Republic of the Congo ($X per unit) and Ireland ($X per unit), while the average price for exports to Austria ($X per unit) and India ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Belgium

In 2022, purchases abroad of percussion musical instruments decreased by -51.3% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, enjoyed a pronounced expansion. The pace of growth appeared the most rapid in 2020 with an increase of 135%. Over the period under review, imports hit record highs at X units in 2021, and then reduced dramatically in the following year.

In value terms, percussion musical instrument imports shrank sharply to $X in 2022. Over the period under review, imports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2020 with an increase of 82% against the previous year. Imports peaked at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

China (X units), the United States (X units) and the Netherlands (X units) were the main suppliers of percussion musical instrument imports to Belgium, with a combined 74% share of total imports. France, the UK, Taiwan (Chinese), Ecuador, Canada and Germany lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +64.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest percussion musical instrument suppliers to Belgium were China ($X), the United States ($X) and the Netherlands ($X), together accounting for 75% of total imports. France, the UK, Taiwan (Chinese), Canada, Germany and Ecuador lagged somewhat behind, together comprising a further 19%.

Among the main suppliers, Ecuador, with a CAGR of +36.8%, recorded 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 percussion musical instrument import price stood at $X per unit in 2022, dropping by -12% against the previous year. Over the period under review, the import price saw a abrupt curtailment. The growth pace was the most rapid in 2019 when the average import price increased by 5.2%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per unit), while the price for Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-8.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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