Central Asia: Upright Piano Market 2024

Upright Piano Market Size in Central Asia

The Central Asian upright piano market totaled $X in 2022, with an increase of 13% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Upright Piano Production in Central Asia

In value terms, upright piano production rose slightly to $X in 2022 estimated in export price. In general, production saw a temperate expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 238% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Upright Piano Exports

Exports in Central Asia

In 2022, overseas shipments of acoustic new upright pianos decreased by 0% to X units for the first time since 2018, thus ending a three-year declining trend. Overall, exports saw a slight decline. The pace of growth appeared the most rapid in 2014 with an increase of 33% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, upright piano exports shrank modestly to $X in 2022. Over the period under review, exports continue to indicate a measured increase. The pace of growth was the most pronounced in 2020 when exports increased by 175%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Kazakhstan dominates exports structure, accounting for X units, which was approx. 93% of total exports in 2022. It was distantly followed by Uzbekistan (X units), generating a 7.1% share of total exports.

Kazakhstan experienced a relatively flat trend pattern with regard to volume of exports of acoustic new upright pianos. Uzbekistan experienced a relatively flat trend pattern. From 2012 to 2022, the share of Kazakhstan increased by +12 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) remains the largest upright piano supplier in Central Asia, comprising 83% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 17% share of total exports.

In Kazakhstan, upright piano exports increased at an average annual rate of +8.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per unit, standing approx. at the previous year. Overall, the export price, however, showed prominent growth. The growth pace was the most rapid in 2020 when the export price increased by 195%. Over the period under review, the export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uzbekistan ($X per unit), while Kazakhstan amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+16.4%).

Upright Piano Imports

Imports in Central Asia

In 2022, after three years of decline, there was significant growth in purchases abroad of acoustic new upright pianos, when their volume increased by 40% to X units. In general, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by 93%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, upright piano imports soared to $X in 2022. Overall, imports, however, saw a pronounced decline. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Kazakhstan (X units) and Mongolia (X units) prevails in imports structure, together generating 77% of total imports. Uzbekistan (X units) took a 9.5% share (based on physical terms) of total imports, which put it in second place, followed by Kyrgyzstan (9.1%). The following importers - Turkmenistan (X units) and Tajikistan (X units) - together made up 4.6% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kyrgyzstan (with a CAGR of +17.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest upright piano importing markets in Central Asia were Kazakhstan ($X), Uzbekistan ($X) and Mongolia ($X), with a combined 92% share of total imports. Turkmenistan, Kyrgyzstan and Tajikistan lagged somewhat behind, together accounting for a further 8.2%.

In terms of the main importing countries, Kyrgyzstan, with a CAGR of +40.9%, 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 mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per unit, growing by 51% against the previous year. Import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, upright piano import price decreased by -15.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by 74%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Uzbekistan ($X per unit), while Tajikistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+20.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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