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Report World - Pianos and Other Keyboard Stringed Musical Instruments - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

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

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Global Piano Market 2024

Piano Market Size

The global piano market skyrocketed to $X in 2021, growing by 21% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the global market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Piano Production

In value terms, piano production rose notably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable contraction. Over the period under review, global production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Piano Exports

Exports

In 2021, overseas shipments of pianos and other keyboard stringed musical instruments increased by 22% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, piano exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan was the main exporter of pianos and other keyboard stringed musical instruments in the world, with the volume of exports finishing at X tons, which was near 48% of total exports in 2021. It was distantly followed by Indonesia (X tons), South Korea (X tons), China (X tons) and Germany (X tons), together mixing up a 43% share of total exports.

Exports from Japan increased at an average annual rate of +1.6% from 2012 to 2021. At the same time, South Korea (+26.7%) and China (+3.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in the world, with a CAGR of +26.7% from 2012-2021. Germany and Indonesia experienced a relatively flat trend pattern. South Korea (+8.1 p.p.) significantly strengthened its position in terms of the global exports, while Japan and Indonesia saw its share reduced by -2.3% and -5.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), Germany ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2021, with a combined 72% share of global exports. China and South Korea lagged somewhat behind, together comprising a further 8.8%.

South Korea, with a CAGR of +10.6%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average piano export price stood at $X per ton in 2021, increasing by 3.7% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 4.4%. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Germany ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the other global leaders experienced more modest paces of growth.

Piano Imports

Imports

In 2021, global piano imports skyrocketed to X tons, picking up by 53% on the previous year. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, piano imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China dominates imports structure, reaching X tons, which was approx. 53% of total imports in 2021. The United States (X tons) held the second position in the ranking, followed by Germany (X tons). All these countries together took near 13% share of total imports. The following importers - Australia (X tons), France (X tons), Italy (X tons), Canada (X tons), the UK (X tons), Malaysia (X tons), Hong Kong SAR (X tons) and the Netherlands (X tons) - together made up 16% of total imports.

China was also the fastest-growing in terms of the pianos and other keyboard stringed musical instruments imports, with a CAGR of +18.2% from 2012 to 2021. At the same time, the Netherlands (+5.7%), Italy (+3.8%), the United States (+2.0%) and Australia (+1.8%) displayed positive paces of growth. Canada experienced a relatively flat trend pattern. By contrast, the UK (-1.2%), Malaysia (-2.3%), France (-2.9%), Germany (-3.0%) and Hong Kong SAR (-3.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +36 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported pianos and other keyboard stringed musical instruments worldwide, comprising 29% of global imports. The second position in the ranking was taken by the United States ($X), with a 12% share of global imports. It was followed by Germany, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +9.4%. In the other countries, the average annual rates were as follows: the United States (-0.5% per year) and Germany (-1.1% per year).

Import Prices by Country

In 2021, the average piano import price amounted to $X per ton, dropping by -16.1% against the previous year. In general, the import price showed a slight decline. The growth pace was the most rapid in 2017 when the average import price increased by 6.6% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Canada ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of piano consumption was China, comprising approx. 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.
The country with the largest volume of piano production was Japan, comprising approx. 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.
In value terms, the largest piano supplying countries worldwide were Japan, Germany and Indonesia, together accounting for 70% of global exports. China, South Korea and the United Arab Emirates lagged somewhat behind, together accounting for a further 9.8%.
In value terms, China constitutes the largest market for imported pianos and other keyboard stringed musical instruments worldwide, comprising 29% of global imports. The second position in the ranking was occupied by the United States, with an 11% share of global imports. It was followed by Germany, with a 7.2% share.
In 2020, the average piano export price amounted to $13,921 per ton, growing by 12% against the previous year.
The average piano import price stood at $13,796 per ton in 2020, reducing by -1.6% against the previous year.

This report provides an in-depth analysis of the global piano market. 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:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 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. 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. 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. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. 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, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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