Denmark: Keyboard Stringed Instrument Market 2024

Keyboard Stringed Instrument Market Size in Denmark

The Danish keyboard stringed instrument market skyrocketed to $X in 2022, with an increase of 1,628% against the previous year. Overall, consumption recorded a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Keyboard Stringed Instrument Production in Denmark

In value terms, keyboard stringed instrument production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, recorded strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 117%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Keyboard Stringed Instrument Exports

Exports from Denmark

In 2022, shipments abroad of keyboard stringed instruments increased by 118% to X units, rising for the second consecutive year after two years of decline. Overall, exports saw a measured increase. The growth pace was the most rapid in 2018 with an increase of 148% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, keyboard stringed instrument exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Norway (X units) was the main destination for keyboard stringed instrument exports from Denmark, with a 56% share of total exports. Moreover, keyboard stringed instrument exports to Norway exceeded the volume sent to the second major destination, Faroe Islands (X units), threefold. Germany (X units) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Norway stood at -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Faroe Islands (+3.3% per year) and Germany (0.0% per year).

In value terms, Germany ($X), Norway ($X) and Sweden ($X) were the largest markets for keyboard stringed instrument exported from Denmark worldwide, together comprising 77% of total exports.

Sweden, with a CAGR of +88.3%, saw the highest growth rate of the value of exports, in terms of 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 keyboard stringed instrument export price amounted to $X per unit, surging by 195% against the previous year. Overall, the export price enjoyed a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Norway ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+32.7%), while the prices for the other major destinations experienced mixed trend patterns.

Keyboard Stringed Instrument Imports

Imports into Denmark

In 2022, imports of keyboard stringed instruments into Denmark surged to X units, picking up by 21,400% on 2021 figures. In general, imports enjoyed a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, keyboard stringed instrument imports surged to $X in 2022. Overall, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of keyboard stringed instrument to Denmark, accounting for a 87% share of total imports. Moreover, keyboard stringed instrument imports from Germany exceeded the figures recorded by the second-largest supplier, Bulgaria (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +78.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (0.0% per year) and Norway (-27.4% per year).

In value terms, Germany ($X) constituted the largest supplier of keyboard stringed instruments to Denmark, comprising 72% of total imports. The second position in the ranking was held by Bulgaria ($X), with a 25% share of total imports. It was followed by Norway, with a 0.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +89.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (0.0% per year) and Norway (-16.0% per year).

Import Prices by Country

In 2022, the average keyboard stringed instrument import price amounted to $X per unit, surging by 3.3% against the previous year. In general, the import price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 117%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bulgaria ($X per unit), while the price for Norway ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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