Estonia: Piano Market 2020

Piano Market Size in Estonia

The revenue of the piano market in Estonia amounted to $X in 2018, increasing by X% against the previous year. Over the period under review, piano consumption continues to indicate a resilient expansion. The growth pace was the most rapid in 2015 when the market value increased by X% against the previous year. Over the period under review, the piano market attained its peak figure level in 2018 and is likely to see steady growth in the near future.

Piano Production in Estonia

In value terms, piano production amounted to $X in 2018 estimated in export prices. In general, piano production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when production volume increased by X% y-o-y. Over the period under review, piano production reached its peak figure level at $X in 2015; however, from 2016 to 2018, production remained at a lower figure.

Piano Exports

Exports from Estonia

Piano exports from Estonia amounted to X units in 2018, rising by X% against the previous year. Overall, piano exports, however, continue to indicate an abrupt shrinkage. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, piano exports attained their peak figure at X units in 2007; however, from 2008 to 2018, exports stood at a somewhat lower figure.

In value terms, piano exports stood at $X in 2018. Overall, piano exports, however, continue to indicate an abrupt downturn. The most prominent rate of growth was recorded in 2010 when exports increased by X% y-o-y. Over the period under review, piano exports reached their maximum at $X in 2007; however, from 2008 to 2018, exports stood at a somewhat lower figure.

Exports by Country

In 2018, Japan (X units) represented the largest exporter of pianos and other keyboard stringed musical instruments, achieving X% of total exports. Indonesia (X units) ranks second in terms of the total exports with a X% share, followed by China (X%). The following exporters - Germany (X units), Oman (X units) and Malaysia (X units) - together made up X% of total exports.

From 2007 to 2018, average annual rates of growth with regard to piano exports from Japan stood at +X%. At the same time, Oman (+X%), Indonesia (+X%) and Malaysia (+X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. By contrast, Germany (-X%) and China (-X%) illustrated a downward trend over the same period. While the share of Japan (+X p.p.), Indonesia (+X p.p.) and Oman (+X p.p.) increased significantly in terms of the global exports from 2007-2018, the share of Germany (-X p.p.) and China (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest piano supplier from Estonia, comprising X% of global exports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of global exports. It was followed by Germany, with a X% share.

In Japan, piano exports increased at an average annual rate of +X% over the period from 2007-2018. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Germany (-X% per year).

Export Prices by Country

The piano export price in Estonia stood at $X per unit in 2018, declining by -X% against the previous year. In general, the export price indicated a slight increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2010 an increase of X% year-to-year. Over the period under review, the export prices for pianos and other keyboard stringed musical instruments attained their maximum at $X per unit in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced mixed trends in the export price figures.

Piano Imports

Imports into Estonia

In 2018, the amount of pianos and other keyboard stringed musical instruments imported into Estonia totaled X units, falling by -X% against the previous year. In general, piano imports continue to indicate an abrupt deduction. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. In that year, piano imports reached their peak of X units. From 2016 to 2018, the growth of piano imports remained at a somewhat lower figure.

In value terms, piano imports amounted to $X in 2018. In general, piano imports continue to indicate slight growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Estonia imports peaked at $X in 2015; however, from 2016 to 2018, imports remained at a lower figure.

Imports by Country

China was the major importing country with an import of around X units, which resulted at X% of total imports. The U.S. (X units) ranks second in terms of the total imports with a X% share, followed by Vietnam (X%) and Germany (X%). The following importers - Malaysia (X units), France (X units), Australia (X units), Qatar (X units), Canada (X units), South Korea (X units), the UK (X units) and Israel (X units) - together made up X% of total imports.

Imports into China increased at an average annual rate of +X% from 2007 to 2018. At the same time, Qatar (+X%), Vietnam (+X%) and Israel (+X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Australia (-X%), Germany (-X%), Malaysia (-X%), the UK (-X%), France (-X%), the U.S. (-X%), Canada (-X%) and South Korea (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of China, Vietnam, Qatar and Israel increased by +X%, +X%, +X% and +X% percentage points, while Malaysia (-X p.p.), France (-X p.p.), Canada (-X p.p.), South Korea (-X p.p.) and the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), the U.S. ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2018, with a combined X% share of total imports.

Among the main importing countries, China experienced the highest growth rate of imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the piano import price in Estonia amounted to $X per unit, rising by X% against the previous year. Overall, the piano import price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2009 an increase of X% y-o-y. Estonia import price peaked at $X per unit in 2014; however, from 2015 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was the U.S. ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform