Egypt: Upright Piano Market 2024

Upright Piano Market Size in Egypt

The Egyptian upright piano market contracted notably to $X in 2022, falling by -32.5% 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). Overall, consumption showed a abrupt decrease. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Upright Piano Exports

Exports from Egypt

In 2022, exports of acoustic new upright pianos from Egypt dropped remarkably to X units, falling by -20% compared with 2021 figures. Over the period under review, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 150%. As a result, the exports reached the peak of X units, and then fell notably in the following year.

In value terms, upright piano exports skyrocketed to $X in 2022. In general, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 176% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units), Jordan (X units) and France (X units) were the main destinations of upright piano exports from Egypt, together comprising 75% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for acoustic new upright pianos exports from Egypt, comprising 78% of total exports. The second position in the ranking was taken by Kuwait ($X), with an 18% share of total exports. It was followed by Jordan, with a 2.2% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+9.5% per year) and Jordan (0.0% per year).

Export Prices by Country

In 2022, the average upright piano export price amounted to $X per unit, growing by 66% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 232% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+9.5%), while the prices for the other major destinations experienced mixed trend patterns.

Upright Piano Imports

Imports into Egypt

In 2022, approx. X units of acoustic new upright pianos were imported into Egypt; falling by -55.9% against 2021. In general, imports faced a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 429% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, upright piano imports fell significantly to $X in 2022. Overall, imports, however, posted temperate growth. The pace of growth was the most pronounced in 2021 when imports increased by 1,087%. As a result, imports reached the peak of $X, and then reduced notably in the following year.

Imports by Country

Taiwan (Chinese) (X units), China (X units) and Indonesia (X units) were the main suppliers of upright piano imports to Egypt, together accounting for 78% of total imports. The United States, South Korea, the United Arab Emirates and Belgium lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +100.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), China ($X) and Indonesia ($X) constituted the largest upright piano suppliers to Egypt, together comprising 94% of total imports. South Korea, the United Arab Emirates, the United States and Belgium lagged somewhat behind, together accounting for a further 5.8%.

Among the main suppliers, South Korea, with a CAGR of +1,018.5%, 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

The average upright piano import price stood at $X per unit in 2022, jumping by 85% against the previous year. Overall, the import price showed significant growth. The most prominent rate of growth was recorded in 2021 an increase of 125%. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per unit), while the price for the United States ($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 (+459.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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