Report Update Nov 1, 2024

Ghana - Pianos and Other Keyboard Stringed Musical Instruments - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Piano Market 2024

Piano Market Size in Ghana

For the third year in a row, the Ghanian piano market recorded decline in sales value, which decreased by -68.6% to $X in 2021. Over the period under review, consumption continues to indicate a abrupt slump. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Piano Exports

Exports from Ghana

After two years of growth, shipments abroad of pianos and other keyboard stringed musical instruments decreased by -72.2% to X kg in 2021. In general, exports, however, recorded notable growth. The pace of growth was the most pronounced in 2019 when exports increased by 144%. The exports peaked at X tons in 2020, and then fell markedly in the following year.

In value terms, piano exports contracted sharply to $X in 2021. Over the period under review, exports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 90% against the previous year. As a result, the exports attained the peak of $X, and then declined dramatically in the following year.

Exports by Country

Cote d'Ivoire (X kg) and the UK (X kg) were the main destinations of piano exports from Ghana.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +27.2%).

In value terms, the UK ($X) and Cote d'Ivoire ($X) were the largest markets for piano exported from Ghana worldwide.

The UK, with a CAGR of +26.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average piano export price amounted to $X per ton, rising by 93% against the previous year. Overall, the export price recorded strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to Cote d'Ivoire amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+588.8%), while the prices for the other major destinations experienced mixed trend patterns.

Piano Imports

Imports into Ghana

For the third year in a row, Ghana recorded decline in overseas purchases of pianos and other keyboard stringed musical instruments, which decreased by -68.2% to X tons in 2021. In general, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 325% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, piano imports contracted remarkably to $X in 2021. Over the period under review, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 132% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X kg), the Netherlands (X kg) and the UK (X kg) were the main suppliers of piano imports to Ghana, with a combined 44% share of total imports. These countries were followed by South Africa, Spain, China, Japan, Denmark, Nigeria, Hong Kong SAR, India, Canada and Belgium, which together accounted for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Nigeria (with a CAGR of +26.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest piano suppliers to Ghana were the United States ($X), the UK ($X) and China ($X), together comprising 36% of total imports. These countries were followed by South Africa, Nigeria, the Netherlands, India, Denmark, Japan, Canada, Hong Kong SAR, Belgium and Spain, which together accounted for a further 29%.

In terms of the main suppliers, India, with a CAGR of +30.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average piano import price stood at $X per ton in 2021, reducing by -8% against the previous year. In general, the import price, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2014 when the average import price increased by 275% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Nigeria ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for pianos and other keyboard stringed musical instruments in the world?

China constituted the country with the largest volume of piano consumption, accounting for 30% of total volume. Moreover, piano consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. Pakistan ranked third in terms of total consumption with a 5.7% share.

What are the largest producers of pianos and other keyboard stringed musical instruments in the world?

Japan constituted the country with the largest volume of piano production, accounting for 29% of total volume. Moreover, piano production in Japan exceeded the figures recorded by the second-largest producer, China, twofold. Indonesia ranked third in terms of total production with a 13% share.

What are the leading suppliers of pianos and other keyboard stringed musical instruments to Ghana?

In value terms, the largest piano suppliers to Ghana were the United States, the United Arab Emirates and China, with a combined 44% share of total imports. The UK, the Netherlands, Nigeria, Japan, Belgium, Switzerland, Canada, India, Denmark and Hong Kong SAR lagged somewhat behind, together comprising a further 29%.

What are the leading importers of pianos and other keyboard stringed musical instruments from Ghana?

In value terms, the UK emerged as the key foreign market for piano exports from Ghana, comprising 90% of total exports. The second position in the ranking was occupied by Cote d'Ivoire $474), with an 8.6% share of total exports.

What is the average export price for pianos and other keyboard stringed musical instruments in Ghana?

The average piano export price stood at $12,586 per ton in 2020, growing by 430% against the previous year.

What is the average import price for pianos and other keyboard stringed musical instruments in Ghana?

The average piano import price stood at $6,463 per ton in 2020, shrinking by -27% against the previous year.

This report provides an in-depth analysis of the piano market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32201110 - Acoustic new upright pianos (including automatic pianos)
Prodcom 32201130 - Acoustic grand pianos (including automatic pianos)
Prodcom 32201150 - Keyboard stringed instruments (including harpsichords, s pinets and clavichords)

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023