Czech Republic: Upright Piano Market 2024

Upright Piano Market Size in the Czech Republic

The Czech upright piano market surged to $X in 2022, with an increase of 103% against the previous year. In general, consumption continues to indicate a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Upright Piano Production in the Czech Republic

In value terms, upright piano production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 9.1%. Upright piano production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Upright Piano Exports

Exports from the Czech Republic

In 2022, the amount of acoustic new upright pianos exported from the Czech Republic dropped to X units, which is down by -12.4% on the previous year's figure. In general, exports saw a pronounced shrinkage. The growth pace was the most rapid in 2021 when exports increased by 19%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, upright piano exports declined to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 26% against the previous year. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Germany (X units) was the main destination for upright piano exports from the Czech Republic, accounting for a 28% share of total exports. Moreover, upright piano exports to Germany exceeded the volume sent to the second major destination, China (X units), twofold. The third position in this ranking was held by France (X units), with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to -6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-3.3% per year) and France (+75.4% per year).

In value terms, Germany ($X), China ($X) and France ($X) were the largest markets for upright piano exported from the Czech Republic worldwide, with a combined 48% share of total exports.

France, with a CAGR of +74.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average upright piano export price amounted to $X per unit, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 21%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2021, and then declined in the following year.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per unit) and Canada ($X per unit), while the average price for exports to the Netherlands ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Upright Piano Imports

Imports into the Czech Republic

In 2022, purchases abroad of acoustic new upright pianos increased by 120% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 223% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, upright piano imports soared to $X in 2022. Overall, imports recorded a significant expansion. The growth pace was the most rapid in 2018 when imports increased by 220%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X units) was the main supplier of upright piano to the Czech Republic, with a 95% share of total imports. Moreover, upright piano imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +36.0%.

In value terms, China ($X) constituted the largest supplier of acoustic new upright pianos to the Czech Republic, comprising 89% of total imports. The second position in the ranking was held by Germany ($X), with a 7.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +40.3%.

Import Prices by Country

In 2022, the average upright piano import price amounted to $X per unit, dropping by -12.6% against the previous year. Overall, the import price saw a slight decrease. The pace of growth was the most pronounced in 2017 when the average import price increased by 45% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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