Germany: Upright Piano Market 2024

Upright Piano Market Size in Germany

The German upright piano market rose remarkably to $X in 2022, surging by 12% against the previous year. In general, consumption continues to indicate a strong increase. Upright piano consumption peaked in 2022 and is expected to retain growth in years to come.

Upright Piano Production in Germany

In value terms, upright piano production rose notably to $X in 2022 estimated in export price. Overall, production saw a mild expansion. The pace of growth was the most pronounced in 2021 with an increase of 14%. Upright piano production peaked in 2022 and is expected to retain growth in years to come.

Upright Piano Exports

Exports from Germany

Upright piano exports from Germany rose modestly to X units in 2022, increasing by 4.3% against 2021 figures. Overall, exports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2021 when exports increased by 21%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, upright piano exports contracted slightly to $X in 2022. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 34% against the previous year. As a result, the exports reached the peak of $X, and then dropped modestly in the following year.

Exports by Country

Switzerland (X units), France (X units) and Austria (X units) were the main destinations of upright piano exports from Germany, together comprising 35% of total exports. Belgium, China, the Netherlands, the UK, the United States, Poland, Norway, Japan, the United Arab Emirates and Russia lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +18.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Switzerland ($X) and France ($X) appeared to be the largest markets for upright piano exported from Germany worldwide, with a combined 39% share of total exports. The UK, the United States, Belgium, Austria, the Netherlands, Japan, Poland, Norway, the United Arab Emirates and Russia lagged somewhat behind, together comprising a further 40%.

The United Arab Emirates, with a CAGR of +22.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average upright piano export price amounted to $X per unit, waning by -5.9% against the previous year. Overall, the export price, however, posted prominent growth. The most prominent rate of growth was recorded in 2015 an increase of 42%. The export price peaked at $X per unit in 2021, and then contracted in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Upright Piano Imports

Imports into Germany

In 2022, the amount of acoustic new upright pianos imported into Germany expanded rapidly to X units, increasing by 9.3% compared with the previous year. Over the period under review, imports, however, recorded a perceptible slump. The growth pace was the most rapid in 2019 with an increase of 19% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, upright piano imports expanded rapidly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 25%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X units) constituted the largest supplier of upright piano to Germany, accounting for a 68% share of total imports. Moreover, upright piano imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was taken by Japan (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia amounted to -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.0% per year) and Japan (-7.6% per year).

In value terms, Indonesia ($X) constituted the largest supplier of acoustic new upright pianos to Germany, comprising 61% of total imports. The second position in the ranking was taken by Japan ($X), with a 20% share of total imports. It was followed by China, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.2% per year) and China (-4.8% per year).

Import Prices by Country

The average upright piano import price stood at $X per unit in 2022, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2015 when the average import price increased by 12%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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