Germany: Keyboard Stringed Instrument Market 2024

Keyboard Stringed Instrument Market Size in Germany

In 2022, the German keyboard stringed instrument market decreased by -5.8% to $X, falling for the second year in a row after two years of growth. Overall, consumption saw temperate growth. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Keyboard Stringed Instrument Production in Germany

In value terms, keyboard stringed instrument production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 30%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Keyboard Stringed Instrument Exports

Exports from Germany

In 2022, overseas shipments of keyboard stringed instruments decreased by -45% to X units, falling for the third consecutive year after four years of growth. In general, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 319% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, keyboard stringed instrument exports reduced to $X in 2022. Over the period under review, exports, however, saw a temperate increase. The pace of growth was the most pronounced in 2014 when exports increased by 92% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Austria (X units), Switzerland (X units) and China (X units) were the main destinations of keyboard stringed instrument exports from Germany, together comprising 48% of total exports. These countries were followed by Italy, France, the Netherlands, Spain, Serbia, Taiwan (Chinese), Hong Kong SAR, Poland, Kazakhstan and Belgium, which together accounted for a further 45%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +43.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), China ($X) and Taiwan (Chinese) ($X) appeared to be the largest markets for keyboard stringed instrument exported from Germany worldwide, with a combined 51% share of total exports. These countries were followed by Kazakhstan, Austria, Hong Kong SAR, Italy, France, Serbia, the Netherlands, Spain, Poland and Belgium, which together accounted for a further 27%.

In terms of the main countries of destination, Austria, with a CAGR of +91.5%, saw the highest rates of growth with regard to the value of exports, 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 keyboard stringed instrument export price amounted to $X per unit, picking up by 60% against the previous year. In general, the export price, however, recorded a deep reduction. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to Austria ($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 Netherlands (+0.7%), while the prices for the other major destinations experienced a decline.

Keyboard Stringed Instrument Imports

Imports into Germany

In 2022, purchases abroad of keyboard stringed instruments decreased by -16.5% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate temperate growth. The most prominent rate of growth was recorded in 2016 with an increase of 656%. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, keyboard stringed instrument imports declined dramatically to $X in 2022. In general, imports, however, showed a measured increase. The pace of growth appeared the most rapid in 2016 with an increase of 664%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of keyboard stringed instrument to Germany, with a 77% share of total imports. Moreover, keyboard stringed instrument imports from China exceeded the figures recorded by the second-largest supplier, Switzerland (X units), tenfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-17.8% per year) and Taiwan (Chinese) (0.0% per year).

In value terms, China ($X) constituted the largest supplier of keyboard stringed instruments to Germany, comprising 41% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 15% share of total imports. It was followed by Spain, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (0.0% per year) and Spain (-20.4% per year).

Import Prices by Country

The average keyboard stringed instrument import price stood at $X per unit in 2022, reducing by -32.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 103%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Poland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+117.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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