Eastern Asia: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Eastern Asia

The East Asian electrical musical instrument market reached $X in 2022, with an increase of X% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Electrical Musical Instrument Production in Eastern Asia

In value terms, electrical musical instrument production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a temperate expansion. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Electrical Musical Instrument Exports

Exports in Eastern Asia

In 2022, after four years of growth, there was significant decline in overseas shipments of electrical musical or keyboard instruments, when their volume decreased by X% to X units. Total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2017 indices. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X units, and then reduced dramatically in the following year.

In value terms, electrical musical instrument exports contracted to $X in 2022. Total exports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

China prevails in exports structure, recording X units, which was near X% of total exports in 2022. Hong Kong SAR (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the electrical musical or keyboard instruments exports, with a CAGR of X% from 2012 to 2022. Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest electrical musical instrument supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total exports.

In China, electrical musical instrument exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, growing by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%).

Electrical Musical Instrument Imports

Imports in Eastern Asia

In 2022, approx. X units of electrical musical or keyboard instruments were imported in Eastern Asia; with a decrease of X% on 2021 figures. Total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2018 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X units, and then fell sharply in the following year.

In value terms, electrical musical instrument imports expanded sharply to $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

The purchases of the four major importers of electrical musical or keyboard instruments, namely Japan, China, Hong Kong SAR and South Korea, represented more than two-thirds of total import. It was distantly followed by Taiwan (Chinese) (X units), achieving a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical musical instrument importing markets in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), together accounting for X% of total imports.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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