Canada: Piano Market 2024

Piano Market Size in Canada

The Canadian piano market surged to $X in 2021, increasing by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in years to come.

Piano Exports

Exports from Canada

In 2021, piano exports from Canada soared to X tons, with an increase of 40% against 2020 figures. In general, exports, however, saw a perceptible curtailment. The pace of growth was the most pronounced in 2016 with an increase of 142% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, piano exports surged to $X in 2021. Over the period under review, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 158% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for piano exports from Canada, accounting for a 45% share of total exports. Moreover, piano exports to the United States exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was taken by Jamaica (X kg), with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+5.2% per year) and Jamaica (+2.6% per year).

In value terms, the United States ($X) emerged as the key foreign market for pianos and other keyboard stringed musical instruments exports from Canada, comprising 53% of total exports. The second position in the ranking was taken by China ($X), with a 23% share of total exports. It was followed by Ireland, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+4.4% per year) and Ireland (+182.6% per year).

Export Prices by Country

In 2021, the average piano export price amounted to $X per ton, increasing by 22% against the previous year. In general, the export price, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2013 an increase of 37%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Ireland ($X per ton), while the average price for exports to Ghana ($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 Indonesia (+6.3%), while the prices for the other major destinations experienced a decline.

Piano Imports

Imports into Canada

In 2021, overseas purchases of pianos and other keyboard stringed musical instruments increased by 9.3% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 16%. Imports peaked at X tons in 2012; afterwards, it flattened through to 2021.

In value terms, piano imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), the United States (X tons) and Indonesia (X tons) were the main suppliers of piano imports to Canada, together comprising 77% of total imports. These countries were followed by China, Germany, the Czech Republic and Italy, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +15.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Germany ($X) appeared to be the largest piano suppliers to Canada, with a combined 77% share of total imports. These countries were followed by Indonesia, China, the Czech Republic and Italy, which together accounted for a further 20%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +20.8%, 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

In 2021, the average piano import price amounted to $X per ton, surging by 6.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2020 an increase of 22% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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