Report Update Nov 1, 2024

Costa Rica - Percussion Musical Instruments - Market Analysis, Forecast, Size, Trends and Insights

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Costa Rica: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Costa Rica

In 2022, the Costa Rican percussion musical instrument market increased by 11% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, recorded a perceptible reduction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Percussion Musical Instrument Exports

Exports from Costa Rica

Percussion musical instrument exports from Costa Rica declined notably to X units in 2022, shrinking by -19% on 2021. Overall, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 76% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, percussion musical instrument exports shrank slightly to $X in 2022. In general, exports showed a dramatic curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 13% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for percussion musical instrument exports from Costa Rica, accounting for a 68% share of total exports. Moreover, percussion musical instrument exports to the United States exceeded the volume sent to the second major destination, Nicaragua (X units), twofold.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +36.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-23.7% per year) and Panama (-10.4% per year).

In value terms, the United States ($X), Nicaragua ($X) and Panama ($X) constituted the largest markets for percussion musical instrument exported from Costa Rica worldwide.

Among the main countries of destination, the United States, with a CAGR of +14.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average percussion musical instrument export price stood at $X per unit in 2022, rising by 18% against the previous year. In general, the export price, however, saw a precipitous slump. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per unit), while the average price for exports to the United States ($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 the United States (-16.2%), while the prices for the other major destinations experienced a decline.

Percussion Musical Instrument Imports

Imports into Costa Rica

In 2022, overseas purchases of percussion musical instruments increased by 11% to X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2013 when imports increased by 109% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, percussion musical instrument imports rose sharply to $X in 2022. In general, imports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2013 when imports increased by 129%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), the United States (X units) and Thailand (X units) were the main suppliers of percussion musical instrument imports to Costa Rica, together comprising 85% of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +22.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest percussion musical instrument suppliers to Costa Rica were China ($X), the United States ($X) and Thailand ($X), together comprising 85% of total imports.

Among the main suppliers, Thailand, with a CAGR of +23.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average percussion musical instrument import price amounted to $X per unit, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2016 an increase of 9.8%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Panama ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for the United States ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the percussion musical instrument market in Costa Rica. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32201510 - Percussion musical instruments

Country coverage:

Costa Rica

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Costa Rica
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023