Egypt: Grand Piano Market 2024

Grand Piano Market Size in Egypt

The Egyptian grand piano market soared to $X in 2021, picking up by 1,093% 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 enjoyed a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Grand Piano Exports

Exports from Egypt

In 2021, shipments abroad of acoustic grand pianos increased by 9.5% to X kg, rising for the third consecutive year after three years of decline. Overall, total exports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +64.3% against 2018 indices. The pace of growth was the most pronounced in 2019 when exports increased by 38%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, grand piano exports rose rapidly to $X in 2021. In general, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +29.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 23%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Bahrain (X kg) was the main destination for grand piano exports from Egypt, with a 93% share of total exports. Moreover, grand piano exports to Bahrain exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Bahrain amounted to +12.8%.

In value terms, Bahrain ($X) remains the key foreign market for acoustic grand pianos exports from Egypt, comprising 69% of total exports. The second position in the ranking was taken by the United States ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Bahrain totaled +40.5%.

Export Prices by Country

The average grand piano export price stood at $X per ton in 2021, rising by 3.8% against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grand piano export price increased by +8.2% against 2019 indices. The pace of growth was the most pronounced in 2016 an increase of 26% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Bahrain totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+24.5%).

Grand Piano Imports

Imports into Egypt

In 2021, the amount of acoustic grand pianos imported into Egypt surged to X tons, with an increase of 848% compared with the previous year's figure. Overall, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 6,166%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, grand piano imports skyrocketed to $X in 2021. In general, imports recorded a prominent expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 6,823%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of grand piano to Egypt, with a 36% share of total imports. Moreover, grand piano imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X kg), fourfold. The third position in this ranking was taken by Indonesia (X kg), with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +53.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-0.0% per year) and Indonesia (+0.5% per year).

In value terms, Germany ($X) constituted the largest supplier of acoustic grand pianos to Egypt, comprising 37% of total imports. The second position in the ranking was taken by Austria ($X), with a 12% share of total imports. It was followed by Indonesia, with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +53.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+21.4% per year) and Indonesia (-17.3% per year).

Import Prices by Country

The average grand piano import price stood at $X per ton in 2021, waning by -3.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 32%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+21.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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