China: Accordion Market 2024

Accordion Market Size in China

The Chinese accordion market contracted to $X in 2021, waning by -5.6% against the previous year. In general, consumption recorded a noticeable slump. Accordion consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Accordion Production in China

In value terms, accordion production amounted to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. Accordion production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Accordion Exports

Exports from China

For the third year in a row, China recorded growth in shipments abroad of accordions and mouth organs, which increased by 59% to X units in 2021. Overall, exports recorded prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, accordion exports expanded slightly to $X in 2021. In general, exports, however, saw a mild slump. The most prominent rate of growth was recorded in 2017 when exports increased by 11%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for accordion exports from China, with a 28% share of total exports. Moreover, accordion exports to the United States exceeded the volume sent to the second major destination, Japan (X units), threefold. Germany (X units) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+19.3% per year) and Germany (+13.0% per year).

In value terms, the United States ($X) remains the key foreign market for accordions and mouth organs exports from China, comprising 35% of total exports. The second position in the ranking was taken by Germany ($X), with a 10% share of total exports. It was followed by Japan, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+3.2% per year) and Japan (+5.7% per year).

Export Prices by Country

The average accordion export price stood at $X per unit in 2021, waning by -34.5% against the previous year. Over the period under review, the export price continues to indicate a abrupt contraction. The growth pace was the most rapid in 2014 when the average export price increased by 56% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-8.5%), while the prices for the other major destinations experienced a decline.

Accordion Imports

Imports into China

Accordion imports into China skyrocketed to X units in 2021, jumping by 43% on the year before. Overall, imports posted a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 69% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, accordion imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by 76%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

France (X units), Japan (X units) and Taiwan (Chinese) (X units) were the main suppliers of accordion imports to China, together comprising 74% of total imports. Germany, the UK and Austria lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +111.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest accordion suppliers to China were Japan ($X), France ($X) and Germany ($X), with a combined 81% share of total imports. Taiwan (Chinese), Austria and the UK lagged somewhat behind, together comprising a further 11%.

Austria, with a CAGR of +158.4%, saw the highest growth rate of 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 2021, the average accordion import price amounted to $X per unit, growing by 7.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.9%. The most prominent rate of growth was recorded in 2020 an increase of 8.3%. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+22.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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