Finland: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Finland

The Finnish percussion musical instrument market surged to $X in 2022, increasing by 33% 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, however, continues to indicate a pronounced setback. Percussion musical instrument consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Percussion Musical Instrument Exports

Exports from Finland

In 2022, approx. X units of percussion musical instruments were exported from Finland; which is down by -74.5% compared with the previous year. Over the period under review, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 325% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2021, and then contracted significantly in the following year.

In value terms, percussion musical instrument exports fell significantly to $X in 2022. Overall, exports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of 353%. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced sharply in the following year.

Exports by Country

The United States (X units) was the main destination for percussion musical instrument exports from Finland, with a 45% share of total exports. Moreover, percussion musical instrument exports to the United States exceeded the volume sent to the second major destination, the UK (X units), twofold. Switzerland (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +32.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+17.4% per year) and Switzerland (+26.3% per year).

In value terms, the United States ($X) emerged as the key foreign market for percussion musical instruments exports from Finland, comprising 45% of total exports. The second position in the ranking was taken by the UK ($X), with a 20% share of total exports. It was followed by Switzerland, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +42.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+41.4% per year) and Switzerland (+35.9% per year).

Export Prices by Country

The average percussion musical instrument export price stood at $X per unit in 2022, surging by 20% against the previous year. In general, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 55% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Canada ($X per unit) and the UK ($X per unit), while the average price for exports to Russia ($X per unit) and Kazakhstan ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Finland

For the third year in a row, Finland recorded growth in supplies from abroad of percussion musical instruments, which increased by 37% to X units in 2022. In general, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, percussion musical instrument imports expanded modestly to $X in 2022. Overall, imports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X units), China (X units) and the United States (X units) were the main suppliers of percussion musical instrument imports to Finland, together accounting for 55% of total imports. Turkey, the Netherlands, Canada, Taiwan (Chinese), Switzerland, Thailand, Sweden, the UK and Japan lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +85.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest percussion musical instrument suppliers to Finland were Germany ($X), China ($X) and the United States ($X), together accounting for 55% of total imports. Turkey, the Netherlands, Canada, Taiwan (Chinese), Switzerland, Thailand, Sweden, the UK and Japan lagged somewhat behind, together comprising a further 36%.

Switzerland, with a CAGR of +77.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average percussion musical instrument import price amounted to $X per unit, which is down by -25.5% against the previous year. Overall, the import price recorded a perceptible downturn. The pace of growth was the most pronounced in 2017 when the average import price increased by 14%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per unit) and the UK ($X per unit), while the price for Turkey ($X per unit) and Taiwan (Chinese) ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-3.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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