Canada: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Canada

In 2022, the Canadian electrical musical instrument market increased by X% to $X, rising for the sixth year in a row after four years of decline. Over the period under review, the total consumption indicated measured growth from 2012 to 2022: its value 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, consumption increased by X% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electrical Musical Instrument Exports

Exports from Canada

In 2022, exports of electrical musical or keyboard instruments from Canada expanded notably to X units, with an increase of X% against 2021 figures. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, electrical musical instrument exports dropped to $X in 2022. In general, total exports indicated a measured increase from 2012 to 2022: its value 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, exports increased by X% against 2013 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted in the following year.

Exports by Country

The United States (X units) was the main destination for electrical musical instrument exports from Canada, accounting for a X% share of total exports. Moreover, electrical musical instrument exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X units), more than tenfold. Germany (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Germany (X% per year).

In value terms, the United States ($X) remains the key foreign market for electrical musical or keyboard instruments exports from Canada, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with an X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average electrical musical instrument export price amounted to $X per unit, which is down by X% against the previous year. Overall, export price indicated a slight expansion 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 growth pace was the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per unit, and then reduced in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the United States ($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 the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Musical Instrument Imports

Imports into Canada

In 2022, supplies from abroad of electrical musical or keyboard instruments increased by X% to X units, rising for the sixth consecutive year after two years of decline. Overall, total imports indicated a pronounced increase from 2012 to 2022: its volume 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, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, electrical musical instrument imports skyrocketed to $X in 2022. In general, total imports indicated perceptible growth from 2012 to 2022: its value 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, imports increased by X% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest electrical musical instrument supplier to Canada, with a X% share of total imports. Moreover, electrical musical instrument imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), threefold. The third position in this ranking was held by the United States (X units), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and the United States (X% per year).

In value terms, the largest electrical musical instrument suppliers to Canada were China ($X), Indonesia ($X) and the United States ($X), with a combined X% share of total imports. Malaysia, Mexico, Japan and the Philippines lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

In 2022, the average electrical musical instrument import price amounted to $X per unit, picking up by X% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price attained 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 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for the Philippines ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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