Germany: Grand Piano Market 2024

Grand Piano Market Size in Germany

The German grand piano market declined to $X in 2021, waning by -10.1% against the previous year. Overall, consumption continues to indicate a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Grand Piano Production in Germany

In value terms, grand piano production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Grand Piano Exports

Exports from Germany

In 2021, exports of acoustic grand pianos from Germany surged to X tons, rising by 27% on the previous year. The total export volume increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, grand piano exports surged to $X in 2021. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for grand piano exports from Germany, with a 18% share of total exports. Moreover, grand piano exports to China exceeded the volume sent to the second major destination, France (X tons), twofold. The UK (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-0.2% per year) and the UK (+3.0% per year).

In value terms, China ($X) remains the key foreign market for acoustic grand pianos exports from Germany, comprising 31% of total exports. The second position in the ranking was held by the UK ($X), with a 7.5% share of total exports. It was followed by France, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+5.7% per year) and France (+2.6% per year).

Export Prices by Country

In 2021, the average grand piano export price amounted to $X per ton, picking up by 4% against the previous year. Over the last nine years, it increased at an average annual rate of +3.9%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 17%. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Grand Piano Imports

Imports into Germany

Grand piano imports into Germany skyrocketed to X tons in 2021, increasing by 19% compared with 2020. In general, imports, however, saw a mild decline. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, grand piano imports surged to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X tons), the Netherlands (X tons) and Indonesia (X tons) were the main suppliers of grand piano imports to Germany, together comprising 72% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +113.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of acoustic grand pianos to Germany, comprising 40% of total imports. The second position in the ranking was held by Austria ($X), with a 16% share of total imports. It was followed by the Netherlands, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+7.8% per year) and the Netherlands (+82.2% per year).

Import Prices by Country

In 2021, the average grand piano import price amounted to $X per ton, surging by 6.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 15% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :