GCC: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in GCC

The GCC percussion musical instrument market shrank to $X in 2022, with a decrease of -6.9% against the previous year. Over the period under review, consumption continues to indicate a perceptible setback. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Percussion Musical Instrument Production in GCC

In value terms, percussion musical instrument production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable curtailment. The growth pace was the most rapid in 2014 when the production volume increased by 59% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Percussion Musical Instrument Exports

Exports in GCC

In 2022, shipments abroad of percussion musical instruments increased by 43% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 52%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, percussion musical instrument exports skyrocketed to $X in 2022. In general, exports, however, recorded a abrupt decrease. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X units) was the key exporter of percussion musical instruments, achieving 67% of total exports. Oman (X units) took a 23% share (based on physical terms) of total exports, which put it in second place, followed by Qatar (7.5%).

From 2012 to 2022, average annual rates of growth with regard to percussion musical instrument exports from the United Arab Emirates stood at -16.5%. At the same time, Oman (+51.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +51.1% from 2012-2022. Qatar experienced a relatively flat trend pattern. While the share of Oman (+23 p.p.) and Qatar (+7.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-31.2 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest percussion musical instrument supplier in GCC, comprising 58% of total exports. The second position in the ranking was held by Qatar ($X), with a 24% share of total exports.

In the United Arab Emirates, percussion musical instrument exports declined by an average annual rate of -20.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Qatar (0.0% per year) and Oman (+44.4% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, with an increase of 4.7% against the previous year. Overall, the export price, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2016 when the export price increased by 32%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (-4.4%).

Percussion Musical Instrument Imports

Imports in GCC

In 2022, approx. X units of percussion musical instruments were imported in GCC; with a decrease of -31.3% on the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 98%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, percussion musical instrument imports contracted to $X in 2022. In general, imports saw a slight setback. The pace of growth appeared the most rapid in 2019 when imports increased by 25%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, reaching X units, which was approx. 88% of total imports in 2022. It was distantly followed by Bahrain (X units), mixing up a 5.1% share of total imports. The following importers - Kuwait (X units) and Oman (X units) - together made up 6% of total imports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of percussion musical instruments. Kuwait experienced a relatively flat trend pattern. Oman (-4.0%) and Bahrain (-7.0%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+5.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bahrain (-5.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported percussion musical instruments in GCC, comprising 79% of total imports. The second position in the ranking was held by Oman ($X), with a 5.8% share of total imports. It was followed by Bahrain, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at -2.0%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (-7.7% per year) and Bahrain (-4.3% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, rising by 39% against the previous year. Over the period under review, the import price, however, showed a mild decrease. The level of import peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Oman ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+2.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform