Czech Republic: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in the Czech Republic

In 2022, the Czech percussion musical instrument market increased by 41% to $X, rising for the third year in a row after seven years of decline. Overall, consumption, however, recorded a abrupt decline. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Percussion Musical Instrument Production in the Czech Republic

In value terms, percussion musical instrument production rose to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 13%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Percussion Musical Instrument Exports

Exports from the Czech Republic

In 2022, shipments abroad of percussion musical instruments decreased by -16.7% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 92%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, percussion musical instrument exports surged to $X in 2022. Overall, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2014 when exports increased by 69%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Slovakia (X units) was the main destination for percussion musical instrument exports from the Czech Republic, with a 44% share of total exports. Moreover, percussion musical instrument exports to Slovakia exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was held by Poland (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Slovakia stood at +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+7.7% per year) and Poland (+60.6% per year).

In value terms, Slovakia ($X) remains the key foreign market for percussion musical instruments exports from the Czech Republic, comprising 44% of total exports. The second position in the ranking was taken by Germany ($X), with a 16% share of total exports. It was followed by Poland, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovakia amounted to +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+13.4% per year) and Poland (+69.0% per year).

Export Prices by Country

The average percussion musical instrument export price stood at $X per unit in 2022, picking up by 45% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the average export price increased by 98%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Switzerland ($X per unit) and Hungary ($X per unit), while the average price for exports to Austria ($X per unit) and Italy ($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 Hungary (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into the Czech Republic

For the third consecutive year, the Czech Republic recorded growth in overseas purchases of percussion musical instruments, which increased by 96% to X units in 2022. Over the period under review, imports enjoyed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, percussion musical instrument imports soared to $X in 2022. In general, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), the United States (X units) and Germany (X units) were the main suppliers of percussion musical instrument imports to the Czech Republic, with a combined 61% share of total imports. Taiwan (Chinese), Turkey, the Netherlands, Thailand, Indonesia, Switzerland, India, the UK and Canada lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +55.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest percussion musical instrument suppliers to the Czech Republic were China ($X), the United States ($X) and Germany ($X), together comprising 61% of total imports. Taiwan (Chinese), Turkey, the Netherlands, Thailand, Indonesia, Switzerland, India, the UK and Canada lagged somewhat behind, together comprising a further 33%.

In terms of the main suppliers, the Netherlands, with a CAGR of +39.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average percussion musical instrument import price amounted to $X per unit, waning by -37.3% against the previous year. In general, the import price recorded a drastic downturn. The growth pace was the most rapid in 2017 an increase of 18%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the UK ($X per unit) and Indonesia ($X per unit), while the price for India ($X per unit) and Canada ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-10.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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