China: Upright Piano Market 2025

Upright Piano Market Size in China

The Chinese upright piano market declined remarkably to $X in 2022, waning by -27.4% 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). Over the period under review, consumption, however, enjoyed a strong increase. Upright piano consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Upright Piano Exports

Exports from China

In 2022, approx. X units of acoustic new upright pianos were exported from China; waning by -9% on 2021 figures. In general, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2021 when exports increased by 50% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, upright piano exports shrank to $X in 2022. Overall, exports recorded a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of 61% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units), Germany (X units) and the Netherlands (X units) were the main destinations of upright piano exports from China, together accounting for 37% of total exports. France, Poland, Singapore, Australia, Russia, Italy, Malaysia, South Korea, the United Arab Emirates and Brazil lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +29.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for acoustic new upright pianos exports from China, comprising 23% of total exports. The second position in the ranking was held by Germany ($X), with a 10% share of total exports. It was followed by the Netherlands, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at -6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-5.6% per year) and the Netherlands (-2.8% per year).

Export Prices by Country

The average upright piano export price stood at $X per unit in 2022, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 43% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Brazil ($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 Australia (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Upright Piano Imports

Imports into China

Upright piano imports into China shrank dramatically to X units in 2022, which is down by -24.8% compared with 2021. In general, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -29.3% against 2019 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 20%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, upright piano imports reduced notably to $X in 2022. Over the period under review, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -30.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 24%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X units), South Korea (X units) and Indonesia (X units) were the main suppliers of upright piano imports to China, together accounting for 99% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +3.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of acoustic new upright pianos to China, comprising 60% of total imports. The second position in the ranking was held by Indonesia ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+4.7% per year) and South Korea (+2.2% per year).

Import Prices by Country

In 2022, the average upright piano import price amounted to $X per unit, standing approx. at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2018 an increase of 13% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 Indonesia ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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