CIS: Piano Market 2024

Piano Market Size in CIS

The CIS piano market expanded sharply to $X in 2021, picking up by 5.8% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when the market value increased by 7.7%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Piano Production in CIS

In value terms, piano production amounted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt decline. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Piano Exports

Exports in CIS

In 2021, shipments abroad of pianos and other keyboard stringed musical instruments decreased by -12% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 97% against the previous year. The volume of export peaked at X tons in 2020, and then reduced in the following year.

In value terms, piano exports soared to $X in 2021. Overall, exports recorded a pronounced shrinkage. The growth pace was the most rapid in 2017 when exports increased by 139%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Belarus (X tons) and Russia (X tons) dominates exports structure, together mixing up 93% of total exports. It was distantly followed by Azerbaijan (X tons), comprising a 6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Belarus (with a CAGR of +47.4%), while the other leaders experienced a decline in the exports figures.

In value terms, Russia ($X) remains the largest piano supplier in the CIS, comprising 69% of total exports. The second position in the ranking was held by Belarus ($X), with a 30% share of total exports.

In Russia, piano exports contracted by an average annual rate of -4.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (+39.4% per year) and Azerbaijan (-32.6% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, growing by 65% against the previous year. Overall, the export price, however, recorded a pronounced slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Russia ($X per ton), while Azerbaijan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+1.0%), while the other leaders experienced a decline in the export price figures.

Piano Imports

Imports in CIS

In 2021, after four years of growth, there was significant decline in overseas purchases of pianos and other keyboard stringed musical instruments, when their volume decreased by -25% to X tons. Overall, imports continue to indicate a mild setback. The pace of growth appeared the most rapid in 2017 with an increase of 35% 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 shrank to $X in 2021. In general, imports showed a slight curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 35%. 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 prevails in imports structure, reaching X tons, which was near 81% of total imports in 2021. Azerbaijan (X tons) took the second position in the ranking, followed by Kazakhstan (X tons). All these countries together took near 13% share of total imports. Belarus (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to piano imports into Russia stood at -1.5%. At the same time, Azerbaijan (+3.1%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +3.1% from 2012-2021. By contrast, Kazakhstan (-2.1%) and Belarus (-5.7%) illustrated a downward trend over the same period. While the share of Azerbaijan (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Russia (-2.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported pianos and other keyboard stringed musical instruments in the CIS, comprising 83% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 6.3% share of total imports. It was followed by Azerbaijan, with a 3.3% share.

In Russia, piano imports declined by an average annual rate of -2.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+0.1% per year) and Azerbaijan (-4.5% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, jumping by 24% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Kazakhstan ($X per ton), while Azerbaijan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+2.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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