Eastern Europe: Grand Piano Market 2024

Grand Piano Market Size in Eastern Europe

After four years of growth, the East European grand piano market decreased by -15.7% to $X in 2021. The total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then dropped remarkably in the following year.

Grand Piano Production in Eastern Europe

In value terms, grand piano production expanded slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 11% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Grand Piano Exports

Exports in Eastern Europe

In 2021, approx. X tons of acoustic grand pianos were exported in Eastern Europe; surging by 28% on 2020. In general, exports, however, showed a relatively flat trend pattern. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, grand piano exports soared to $X in 2021. The total export value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Czech Republic (X tons) and Poland (X tons) represented roughly 83% of total exports in 2021. It was distantly followed by Estonia (X tons), comprising a 13% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +2.1%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest grand piano supplying countries in Eastern Europe were Poland ($X), the Czech Republic ($X) and Estonia ($X), with a combined 95% share of total exports.

Among the main exporting countries, Poland, with a CAGR of +2.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, dropping by -1.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2014 when the export price increased by 14% against the previous year. The level of export peaked at $X per ton in 2020, and then shrank slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Poland ($X per ton), while Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+2.1%), while the other leaders experienced more modest paces of growth.

Grand Piano Imports

Imports in Eastern Europe

In 2021, after four years of growth, there was significant decline in overseas purchases of acoustic grand pianos, when their volume decreased by -18.9% to X tons. Total imports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +64.5% against 2016 indices. The pace of growth appeared the most rapid in 2019 with an increase of 25%. Over the period under review, imports reached the maximum at X tons in 2020, and then fell dramatically in the following year.

In value terms, grand piano imports contracted slightly to $X in 2021. Total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -5.9% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 27% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Poland (X tons) and Russia (X tons) were the main importers of acoustic grand pianos in Eastern Europe, together constituting 80% of total imports. It was distantly followed by the Czech Republic (X tons), comprising a 13% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +7.4%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest grand piano importing markets in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), together accounting for 91% of total imports.

The Czech Republic, with a CAGR of +9.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, growing by 23% against the previous year. In general, the import price saw a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was the Czech Republic ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+10.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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