Eastern Europe: Keyboard Stringed Instrument Market 2024

Keyboard Stringed Instrument Market Size in Eastern Europe

In 2022, the East European keyboard stringed instrument market decreased by -19.3% to $X, falling for the third year in a row after two years of growth. Overall, consumption, however, saw a noticeable descent. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Keyboard Stringed Instrument Production in Eastern Europe

In value terms, keyboard stringed instrument production dropped modestly to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable setback. The growth pace was the most rapid in 2013 when the production volume increased by 46%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Keyboard Stringed Instrument Exports

Exports in Eastern Europe

In 2022, keyboard stringed instrument exports in Eastern Europe reduced to X units, falling by -2.6% compared with the year before. Over the period under review, exports, however, showed a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 460% against the previous year. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, keyboard stringed instrument exports soared to $X in 2022. Overall, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 603%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Poland (X units) and Slovakia (X units) dominates exports structure, together mixing up 72% of total exports. Belarus (X units) took the next position in the ranking, followed by Latvia (X units) and Hungary (X units). All these countries together took approx. 22% share of total exports. The Czech Republic (X units) and Bulgaria (X units) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Poland (with a CAGR of +53.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest keyboard stringed instrument supplying countries in Eastern Europe were Latvia ($X), Poland ($X) and the Czech Republic ($X), together comprising 92% of total exports.

Poland, with a CAGR of +153.4%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2022, jumping by 91% against the previous year. In general, the export price showed a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Latvia ($X per unit), while Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+71.5%), while the other leaders experienced more modest paces of growth.

Keyboard Stringed Instrument Imports

Imports in Eastern Europe

In 2022, supplies from abroad of keyboard stringed instruments was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by 108%. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, keyboard stringed instrument imports contracted notably to $X in 2022. Over the period under review, imports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2014 when imports increased by 308%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of keyboard stringed instruments, namely Moldova, Hungary and Belarus, represented more than two-thirds of total import. Poland (X units) ranks next in terms of the total imports with a 6.8% share, followed by Romania (6.8%). The following importers - Latvia (X units) and Slovakia (X units) - each accounted for a 3.4% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Moldova (with a CAGR of +45.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Hungary ($X) and Poland ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 76% of total imports. These countries were followed by Belarus, Latvia, Slovakia and Moldova, which together accounted for a further 19%.

In terms of the main importing countries, Belarus, with a CAGR of +25.1%, saw the highest rates of growth with regard to 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 import price in Eastern Europe amounted to $X per unit, which is down by -61.9% against the previous year. Overall, the import price faced a abrupt downturn. The most prominent rate of growth was recorded in 2014 an increase of 97%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Romania ($X per unit), while Moldova ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+16.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :