Report Update Nov 1, 2024

Cuba - Pianos and Other Keyboard Stringed Musical Instruments - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Piano Market 2024

Piano Market Size in Cuba

After two years of growth, the Cuban piano market decreased by -23.1% to $X in 2021. Overall, consumption saw a deep reduction. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Piano Exports

Exports from Cuba

In 2021, shipments abroad of pianos and other keyboard stringed musical instruments decreased by 0% to X kg, falling for the second year in a row after two years of decline. Overall, exports faced a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 1,444%. As a result, the exports reached the peak of X kg. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, piano exports amounted to $X in 2021. In general, exports faced a abrupt decline. The most prominent rate of growth was recorded in 2015 with an increase of 192%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Costa Rica (X kg) was the main destination for piano exports from Cuba, with a approx. 100% share of total exports.

From 2013 to 2021, the average annual growth rate of volume to Costa Rica amounted to -44.7%.

From 2013 to 2021, the average annual growth rate of value to Costa Rica totaled -23.8%.

Export Prices by Country

In 2021, the average piano export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price decreased by -18.3%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Costa Rica.

From 2013 to 2021, the rate of growth in terms of prices for Costa Rica amounted to +37.7% per year.

Piano Imports

Imports into Cuba

In 2021, purchases abroad of pianos and other keyboard stringed musical instruments decreased by -10.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports saw a abrupt decline. The pace of growth was the most pronounced in 2014 when imports increased by 447% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, piano imports fell sharply to $X in 2021. Over the period under review, imports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when imports increased by 384% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of piano to Cuba, accounting for a 99% share of total imports. It was followed by Panama (X kg), with a 0.3% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled -8.4%.

In value terms, China ($X) constituted the largest supplier of pianos and other keyboard stringed musical instruments to Cuba, comprising 97% of total imports. The second position in the ranking was taken by Panama ($X), with a 1.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to -8.4%.

Import Prices by Country

The average piano import price stood at $X per ton in 2021, declining by -18.2% against the previous year. In general, the import price saw a mild decrease. The pace of growth was the most pronounced in 2020 when the average import price increased by 20% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Panama ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+12.4%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for pianos and other keyboard stringed musical instruments in the world?

The country with the largest volume of piano consumption was China, accounting for 30% of total volume. Moreover, piano consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was occupied by Pakistan, with a 5.7% share.

What are the largest producers of pianos and other keyboard stringed musical instruments in the world?

Japan constituted the country with the largest volume of piano production, comprising approx. 29% of total volume. Moreover, piano production in Japan exceeded the figures recorded by the second-largest producer, China, twofold. Indonesia ranked third in terms of total production with a 13% share.

What are the leading suppliers of pianos and other keyboard stringed musical instruments to Cuba?

In value terms, China constituted the largest supplier of piano to Cuba, comprising 75% of total imports. The second position in the ranking was occupied by Panama, with a 24% share of total imports.

What is the average export price for pianos and other keyboard stringed musical instruments in Cuba?

In 2017, the average piano export price amounted to $18,859 per ton, remaining relatively unchanged against the previous year.

What is the average import price for pianos and other keyboard stringed musical instruments in Cuba?

In 2020, the average piano import price amounted to $31,122 per ton, surging by 12% against the previous year.

This report provides an in-depth analysis of the piano market in Cuba. 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 32201110 - Acoustic new upright pianos (including automatic pianos)
Prodcom 32201130 - Acoustic grand pianos (including automatic pianos)
Prodcom 32201150 - Keyboard stringed instruments (including harpsichords, s pinets and clavichords)

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
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