Central Asia: Piano Market 2024

Piano Market Size in Central Asia

The Central Asian piano market surged to $X in 2021, picking up by 19% against the previous year. Over the period under review, consumption, however, continues to indicate a slight slump. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Piano Production in Central Asia

In value terms, piano production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production showed a pronounced descent. The most prominent rate of growth was recorded in 2020 with an increase of 6.7% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Piano Exports

Exports in Central Asia

Piano exports shrank dramatically to X kg in 2021, reducing by -33.2% compared with 2020. In general, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 41%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, piano exports rose significantly to $X in 2021. Overall, exports saw a pronounced contraction. The growth pace was the most rapid in 2017 with an increase of 384% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Kazakhstan dominates exports structure, amounting to X kg, which was near 97% of total exports in 2021. Mongolia (X kg) followed a long way behind the leaders.

Kazakhstan was also the fastest-growing in terms of the pianos and other keyboard stringed musical instruments exports, with a CAGR of -2.9% from 2012 to 2021. Mongolia (-40.3%) illustrated a downward trend over the same period. While the share of Kazakhstan (+30 p.p.) and Mongolia (+2.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) remains the largest piano supplier in Central Asia, comprising 98% of total exports. The second position in the ranking was taken by Mongolia ($X), with a 1.7% share of total exports.

In Kazakhstan, piano exports expanded at an average annual rate of +1.8% over the period from 2012-2021.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, with an increase of 60% against the previous year. Over the period under review, the export price recorded a notable expansion. The pace of growth was the most pronounced in 2017 when the export price increased by 273%. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Kazakhstan ($X per ton), while Mongolia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+4.9%).

Piano Imports

Imports in Central Asia

In 2021, the amount of pianos and other keyboard stringed musical instruments imported in Central Asia surged to X tons, growing by 37% compared with the previous year. Overall, imports showed a temperate expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 121% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, piano imports skyrocketed to $X in 2021. In general, imports, however, saw a mild descent. The pace of growth was the most pronounced in 2013 with an increase of 131% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Kazakhstan (X tons), Mongolia (X tons) and Turkmenistan (X tons) represented roughly 87% of total imports in 2021. It was distantly followed by Kyrgyzstan (X tons) and Uzbekistan (X tons), together mixing up a 12% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +30.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X) constitutes the largest market for imported pianos and other keyboard stringed musical instruments in Central Asia, comprising 53% of total imports. The second position in the ranking was held by Kyrgyzstan ($X), with a 21% share of total imports. It was followed by Mongolia, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Kyrgyzstan (+43.5% per year) and Mongolia (-9.2% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2021, with an increase of 23% against the previous year. In general, the import price, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2016 an increase of 24% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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