Denmark: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Denmark

The Danish percussion musical instrument market declined dramatically to $X in 2022, shrinking by -20.7% 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, consumption continues to indicate a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Percussion Musical Instrument Exports

Exports from Denmark

In 2022, shipments abroad of percussion musical instruments decreased by -57.7% to X units for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 343% against the previous year. As a result, the exports reached the peak of X units, and then dropped dramatically in the following year.

In value terms, percussion musical instrument exports contracted sharply to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 494% against the previous year. As a result, the exports attained the peak of $X, and then contracted sharply in the following year.

Exports by Country

Hong Kong SAR (X units) was the main destination for percussion musical instrument exports from Denmark, with a 47% share of total exports. Moreover, percussion musical instrument exports to Hong Kong SAR exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was held by the United States (X units), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR amounted to +257.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+14.1% per year) and the United States (+6.5% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for percussion musical instruments exports from Denmark, comprising 47% of total exports. The second position in the ranking was held by Germany ($X), with a 15% share of total exports. It was followed by the United States, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR stood at +265.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+26.8% per year) and the United States (+18.3% per year).

Export Prices by Country

The average percussion musical instrument export price stood at $X per unit in 2022, dropping by -18.3% against the previous year. In general, the export price, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 an increase of 38% against the previous year. The export price peaked at $X per unit in 2021, and then dropped dramatically in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Norway ($X per unit) and Germany ($X per unit), while the average price for exports to Australia ($X per unit) and the United States ($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 Germany (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Denmark

In 2022, the amount of percussion musical instruments imported into Denmark soared to X units, increasing by 77% against 2021. In general, imports posted a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, percussion musical instrument imports skyrocketed to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 35% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest percussion musical instrument supplier to Denmark, with a 47% share of total imports. Moreover, percussion musical instrument imports from Germany exceeded the figures recorded by the second-largest supplier, Sweden (X units), threefold. China (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-4.4% per year) and China (+16.6% per year).

In value terms, Germany ($X) constituted the largest supplier of percussion musical instruments to Denmark, comprising 46% of total imports. The second position in the ranking was held by Sweden ($X), with a 15% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-11.2% per year) and China (+8.3% per year).

Import Prices by Country

In 2022, the average percussion musical instrument import price amounted to $X per unit, which is down by -31.9% against the previous year. Overall, the import price showed a deep downturn. The pace of growth appeared the most rapid in 2016 when the average import price increased by 9.7%. Over the period under review, average import prices reached the peak figure 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 countries with the highest prices were the Netherlands ($X per unit) and the United States ($X per unit), while the price for Germany ($X per unit) and China ($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 Netherlands (-5.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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