CIS: Grand Piano Market 2024

Grand Piano Market Size in CIS

After four years of growth, the CIS grand piano market decreased by -2.6% to $X in 2021. Overall, consumption showed a slight setback. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Grand Piano Production in CIS

In value terms, grand piano production reduced to $X in 2021 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +26.8% against 2017 indices. The growth pace was the most rapid in 2015 when the production volume increased by 24% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Grand Piano Exports

Exports in CIS

In 2021, shipments abroad of acoustic grand pianos decreased by -28.5% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 241% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, grand piano exports surged to $X in 2021. In general, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 197% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Russia (X tons) was the key exporter of acoustic grand pianos, constituting 77% of total exports. It was distantly followed by Belarus (X tons), constituting a 23% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to grand piano exports from Russia stood at -11.3%. At the same time, Belarus (+23.9%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +23.9% from 2012-2021. While the share of Belarus (+21 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Russia (-20.6 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest grand piano supplier in the CIS, comprising 96% of total exports. The second position in the ranking was held by Belarus ($X), with a 4.5% share of total exports.

In Russia, grand piano exports plunged by an average annual rate of -7.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, surging by 167% against the previous year. Over the period under review, the export price recorded a pronounced increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Russia ($X per ton), while Belarus stood at $X per ton.

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

Grand Piano Imports

Imports in CIS

In 2021, after four years of growth, there was significant decline in overseas purchases of acoustic grand pianos, when their volume decreased by -12.7% to X tons. In general, imports showed a mild slump. The most prominent rate of growth was recorded in 2017 with an increase of 48% 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, grand piano imports amounted to $X in 2021. Overall, imports saw a mild setback. The growth pace was the most rapid in 2017 with an increase of 57% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia dominates imports structure, accounting for X tons, which was near 86% of total imports in 2021. The following importers - Kazakhstan (X tons), Kyrgyzstan (X tons), Azerbaijan (X tons) and Belarus (X tons) - together made up 11% of total imports.

Russia experienced a relatively flat trend pattern with regard to volume of imports of acoustic grand pianos. At the same time, Kyrgyzstan (+37.1%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +37.1% from 2012-2021. By contrast, Belarus (-4.7%), Kazakhstan (-6.4%) and Azerbaijan (-13.5%) illustrated a downward trend over the same period. Russia (+4.6 p.p.) and Kyrgyzstan (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Kazakhstan and Azerbaijan saw its share reduced by -2% and -5.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported acoustic grand pianos in the CIS, comprising 86% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 5.3% share of total imports. It was followed by Kyrgyzstan, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value in Russia stood at -1.4%. In the other countries, the average annual rates were as follows: Kazakhstan (-2.5% per year) and Kyrgyzstan (+44.2% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, surging by 16% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Kazakhstan ($X per ton), while Belarus ($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 (+5.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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