Indonesia: Upright Piano Market 2024

Upright Piano Market Size in Indonesia

The Indonesian upright piano market soared to $X in 2022, with an increase of 44% against the previous year. In general, consumption enjoyed a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Upright Piano Production in Indonesia

In value terms, upright piano production fell to $X in 2022 estimated in export price. Overall, production saw a mild descent. The most prominent rate of growth was recorded in 2016 with an increase of 39% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Upright Piano Exports

Exports from Indonesia

In 2022, upright piano exports from Indonesia declined markedly to X units, waning by -39.5% against the previous year's figure. Over the period under review, exports recorded a deep reduction. The growth pace was the most rapid in 2016 when exports increased by 70%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, upright piano exports expanded slightly to $X in 2022. The total export value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 40% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for upright piano exports from Indonesia, with a 34% share of total exports. Moreover, upright piano exports to China exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was held by Germany (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-8.9% per year) and Germany (-15.3% per year).

In value terms, China ($X) remains the key foreign market for acoustic new upright pianos exports from Indonesia, comprising 35% of total exports. The second position in the ranking was taken by the United States ($X), with a 13% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+3.8% per year) and Germany (-3.6% per year).

Export Prices by Country

The average upright piano export price stood at $X per unit in 2022, picking up by 73% against the previous year. In general, the export price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 an increase of 88%. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to the United Arab Emirates ($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 France (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Upright Piano Imports

Imports into Indonesia

Upright piano imports into Indonesia soared to X units in 2022, with an increase of 101% against 2021. Over the period under review, imports showed a slight increase. The pace of growth appeared the most rapid in 2019 when imports increased by 263%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, upright piano imports soared to $X in 2022. In general, imports enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 274% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X units), the United States (X units) and Japan (X units) were the main suppliers of upright piano imports to Indonesia.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +31.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest upright piano suppliers to Indonesia were China ($X), the United States ($X) and Japan ($X).

China, with a CAGR of +35.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average upright piano import price stood at $X per unit in 2022, increasing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 13% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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