EU: Piano Market 2024

Piano Market Size in the EU

The EU piano market reached $X in 2021, picking up by 8% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Piano Production in the EU

In value terms, piano production declined markedly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 19%. Over the period under review, production attained the maximum level at $X in 2020, and then fell dramatically in the following year.

Piano Exports

Exports in the EU

In 2021, shipments abroad of pianos and other keyboard stringed musical instruments increased by 17% to X tons, rising for the fifth year in a row after four years of decline. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, piano exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany represented the main exporting country with an export of about X tons, which amounted to 44% of total exports. The Czech Republic (X tons) took the second position in the ranking, followed by the Netherlands (X tons), France (X tons) and Belgium (X tons). All these countries together held approx. 39% share of total exports. Poland (X tons), Italy (X tons) and Spain (X tons) followed a long way behind the leaders.

Germany experienced a relatively flat trend pattern with regard to volume of exports of pianos and other keyboard stringed musical instruments. At the same time, the Netherlands (+26.1%), Spain (+21.2%), Italy (+9.8%), Belgium (+7.0%) and Poland (+2.0%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +26.1% from 2012-2021. France and the Czech Republic experienced a relatively flat trend pattern. While the share of the Netherlands (+11 p.p.), Belgium (+2.1 p.p.) and Italy (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of France (-1.7 p.p.), the Czech Republic (-3.6 p.p.) and Germany (-11 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest piano supplier in the European Union, comprising 64% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 9% share of total exports. It was followed by Poland, with a 4.8% share.

In Germany, piano exports increased at an average annual rate of +3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Czech Republic (+1.9% per year) and Poland (+3.1% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, with an increase of 6.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2018 when the export price increased by 13%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the other leaders experienced more modest paces of growth.

Piano Imports

Imports in the EU

Piano imports soared to X tons in 2021, increasing by 21% on 2020. In general, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, piano imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany was the main importer of pianos and other keyboard stringed musical instruments in the European Union, with the volume of imports reaching X tons, which was near 31% of total imports in 2021. France (X tons) ranks second in terms of the total imports with a 15% share, followed by Italy (14%), the Netherlands (11%) and Belgium (7.6%). Spain (X tons), Poland (X tons), Austria (X tons), Ireland (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to piano imports into Germany stood at -3.0%. At the same time, the Czech Republic (+8.4%), Poland (+8.4%), the Netherlands (+5.7%), Italy (+3.8%), Belgium (+1.9%) and Spain (+1.0%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing importer imported in the European Union, with a CAGR of +8.4% from 2012-2021. Ireland experienced a relatively flat trend pattern. By contrast, France (-2.9%) and Austria (-4.5%) illustrated a downward trend over the same period. While the share of the Netherlands (+4.4 p.p.), Italy (+4.2 p.p.) and Poland (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of France (-4.2 p.p.) and Germany (-8.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), France ($X) and Italy ($X) were the countries with the highest levels of imports in 2021, together accounting for 57% of total imports. The Netherlands, Poland, Belgium, Spain, Austria, the Czech Republic and Ireland lagged somewhat behind, together comprising a further 35%.

The Czech Republic, with a CAGR of +10.7%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, picking up by 8.4% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2017 an increase of 12%. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Austria ($X per ton), while Ireland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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