China: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in China

For the fourth year in a row, the Chinese percussion musical instrument market recorded decline in sales value, which decreased by -50.5% to $X in 2022. Over the period under review, consumption showed a deep downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Percussion Musical Instrument Production in China

In value terms, percussion musical instrument production contracted slightly to $X in 2022 estimated in export price. Overall, production saw a noticeable downturn. The most prominent rate of growth was recorded in 2018 with an increase of 11% against the previous year. Percussion musical instrument production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Percussion Musical Instrument Exports

Exports from China

In 2022, shipments abroad of percussion musical instruments increased by 11% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 26% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, percussion musical instrument exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 35% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for percussion musical instrument exports from China, accounting for a 31% share of total exports. Moreover, percussion musical instrument exports to the United States exceeded the volume sent to the second major destination, Germany (X units), fourfold. The third position in this ranking was held by South Korea (X units), with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-8.2% per year) and South Korea (+1.6% per year).

In value terms, the United States ($X) remains the key foreign market for percussion musical instruments exports from China, comprising 38% of total exports. The second position in the ranking was taken by Germany ($X), with a 9.8% share of total exports. It was followed by Singapore, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+6.7% per year) and Singapore (+27.2% per year).

Export Prices by Country

In 2022, the average percussion musical instrument export price amounted to $X per unit, surging by 5.6% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2015 when the average export price increased by 25% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Spain ($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 Germany (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into China

In 2022, imports of percussion musical instruments into China declined rapidly to X units, dropping by -35.2% against 2021. In general, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by 134% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, percussion musical instrument imports declined dramatically to $X in 2022. Overall, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 53% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X units) constituted the largest percussion musical instrument supplier to China, accounting for a 63% share of total imports. Moreover, percussion musical instrument imports from Indonesia exceeded the figures recorded by the second-largest supplier, Nepal (X units), threefold. Germany (X units) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia amounted to +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Nepal (+35.8% per year) and Germany (-0.1% per year).

In value terms, the United States ($X), Indonesia ($X) and Germany ($X) were the largest percussion musical instrument suppliers to China, with a combined 49% share of total imports. The Netherlands, Nepal and Canada lagged somewhat behind, together accounting for a further 17%.

Among the main suppliers, Nepal, with a CAGR of +33.5%, 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 2022, the average percussion musical instrument import price amounted to $X per unit, increasing by 22% against the previous year. Overall, the import price, however, showed a pronounced shrinkage. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Nepal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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