Cyprus: Piano Market 2020

Piano Market Size in Cyprus

The revenue of the piano market in Cyprus amounted to $X in 2018, lowering by -X% 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, piano consumption continues to indicate a deep drop. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the piano market reached its peak figure level at $X in 2007; however, from 2008 to 2018, consumption failed to regain its momentum.

Piano Exports

Exports from Cyprus

In 2018, the exports of pianos and other keyboard stringed musical instruments from Cyprus totaled X units, increasing by X% against the previous year. In general, piano exports continue to indicate a measured increase. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. In that year, piano exports reached their peak of X units. From 2009 to 2018, the growth of piano exports remained at a somewhat lower figure.

In value terms, piano exports amounted to $X in 2018. Over the period under review, piano exports continue to indicate a precipitous shrinkage. The pace of growth was the most pronounced in 2008 when exports increased by X% y-o-y. In that year, piano exports attained their peak of $X. From 2009 to 2018, the growth of piano exports remained at a lower figure.

Exports by Country

Japan was the major exporter of pianos and other keyboard stringed musical instruments in the world, with the volume of exports recording X units, which was near X% of total exports in 2018. It was distantly followed by Indonesia (X units) and China (X units), together making up a X% share of total exports. The following exporters - Germany (X units), Oman (X units) and Malaysia (X units) - together made up X% of total exports.

Exports from Japan increased at an average annual rate of +X% from 2007 to 2018. At the same time, Oman (+X%), Indonesia (+X%) and Malaysia (+X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. By contrast, Germany (-X%) and China (-X%) illustrated a downward trend over the same period. While the share of Japan (+X p.p.), Indonesia (+X p.p.) and Oman (+X p.p.) increased significantly in terms of the global exports from 2007-2018, the share of Germany (-X p.p.) and China (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest piano supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of global exports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in Japan totaled +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Germany (-X% per year).

Export Prices by Country

In 2018, the piano export price in Cyprus amounted to $X per unit, declining by -X% against the previous year. Overall, the piano export price continues to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2008 an increase of X% year-to-year. In that year, the export prices for pianos and other keyboard stringed musical instruments attained their peak level of $X per unit. From 2009 to 2018, the growth in terms of the export prices for pianos and other keyboard stringed musical instruments failed to regain its momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Germany ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced mixed trends in the export price figures.

Piano Imports

Imports into Cyprus

In 2018, the amount of pianos and other keyboard stringed musical instruments imported into Cyprus amounted to X units, lowering by -X% against the previous year. In general, piano imports continue to indicate an abrupt reduction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Cyprus imports peaked at X units in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

In value terms, piano imports amounted to $X in 2018. Over the period under review, piano imports continue to indicate a deep decline. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Cyprus imports peaked at $X in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

Imports by Country

China was the main importing country with an import of about X units, which finished at X% of total imports. The U.S. (X units) occupied the second position in the ranking, followed by Vietnam (X units) and Germany (X units). All these countries together held approx. X% share of total imports. Malaysia (X units), France (X units), Australia (X units), Qatar (X units), Canada (X units), South Korea (X units), the UK (X units) and Israel (X units) held a minor share of total imports.

From 2007 to 2018, average annual rates of growth with regard to piano imports into China stood at +X%. At the same time, Qatar (+X%), Vietnam (+X%) and Israel (+X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Australia (-X%), Germany (-X%), Malaysia (-X%), the UK (-X%), France (-X%), the U.S. (-X%), Canada (-X%) and South Korea (-X%) illustrated a downward trend over the same period. China (+X p.p.), Vietnam (+X p.p.), Qatar (+X p.p.) and Israel (+X p.p.) significantly strengthened its position in terms of the global imports, while Malaysia, France, Canada, South Korea and the U.S. saw its share reduced by -X%, -X%, -X%, -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), the U.S. ($X) and Germany ($X) were the countries with the highest levels of imports in 2018, with a combined X% share of total imports.

In terms of the main importing countries, China experienced the highest growth rate of imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The piano import price in Cyprus stood at $X per unit in 2018, going down by -X% against the previous year. Overall, the piano import price continues to indicate a drastic reduction. The most prominent rate of growth was recorded in 2009 an increase of X% y-o-y. Over the period under review, the import prices for pianos and other keyboard stringed musical instruments reached their peak figure at $X per unit in 2013; however, from 2014 to 2018, import prices failed to regain their momentum.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was the U.S. ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform