Croatia: Piano Market 2024

Piano Market Size in Croatia

The Croatian piano market declined significantly to $X in 2021, reducing by -30.7% 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 showed a abrupt shrinkage. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Piano Exports

Exports from Croatia

In 2021, shipments abroad of pianos and other keyboard stringed musical instruments decreased by -84.3% to X kg, falling for the second consecutive year after four years of growth. Overall, exports recorded a drastic downturn. The pace of growth was the most pronounced in 2014 when exports increased by 132%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, piano exports dropped markedly to $X in 2021. Over the period under review, exports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by 175% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Austria (X kg) was the main destination for piano exports from Croatia, with a 55% share of total exports. Moreover, piano exports to Austria exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X kg), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Austria stood at +19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+13.6% per year) and Serbia (+17.6% per year).

In value terms, Austria ($X), Serbia ($X) and Bosnia and Herzegovina ($X) were the largest markets for piano exported from Croatia worldwide, together comprising 100% of total exports.

In terms of the main countries of destination, Serbia, with a CAGR of +23.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average piano export price amounted to $X per ton, with an increase of 14% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced decrease. The growth pace was the most rapid in 2018 an increase of 60% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Serbia ($X per ton), while the average price for exports to Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+97.6%), while the prices for the other major destinations experienced more modest paces of growth.

Piano Imports

Imports into Croatia

Piano imports into Croatia dropped rapidly to X tons in 2021, reducing by -45.4% against 2020. Over the period under review, imports showed a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of 94% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, piano imports dropped significantly to $X in 2021. Overall, imports continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2015 when imports increased by 333%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Austria (X tons) constituted the largest supplier of piano to Croatia, with a 57% share of total imports. Moreover, piano imports from Austria exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Indonesia (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Austria amounted to +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.1% per year) and Indonesia (-15.3% per year).

In value terms, Austria ($X) constituted the largest supplier of pianos and other keyboard stringed musical instruments to Croatia, comprising 76% of total imports. The second position in the ranking was taken by Japan ($X), with a 13% share of total imports. It was followed by Indonesia, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Austria amounted to +28.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-9.0% per year) and Indonesia (-16.5% per year).

Import Prices by Country

The average piano import price stood at $X per ton in 2021, picking up by 41% against the previous year. In general, the import price recorded a resilient increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by 124%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+57.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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