Indonesia: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Indonesia

The Indonesian electrical musical instrument market contracted sharply to $X in 2022, declining by X% against the previous year. Overall, consumption continues to indicate a abrupt decline. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Electrical Musical Instrument Production in Indonesia

In value terms, electrical musical instrument production expanded to $X in 2022 estimated in export price. Over the period under review, production posted a noticeable increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Electrical Musical Instrument Exports

Exports from Indonesia

In 2022, approx. X units of electrical musical or keyboard instruments were exported from Indonesia; jumping by X% on the previous year's figure. Overall, exports recorded prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electrical musical instrument exports expanded notably to $X in 2022. In general, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X units) was the main destination for electrical musical instrument exports from Indonesia, with a X% share of total exports. Moreover, electrical musical instrument exports to the United States exceeded the volume sent to the second major destination, Germany (X units), twofold. Japan (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Japan (X% per year).

In value terms, the United States ($X) remains the key foreign market for electrical musical or keyboard instruments exports from Indonesia, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Japan (X% per year).

Export Prices by Country

The average electrical musical instrument export price stood at $X per unit in 2022, dropping by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit, and then declined rapidly in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per unit) and the United States ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Musical Instrument Imports

Imports into Indonesia

In 2022, after two years of decline, there was significant growth in purchases abroad of electrical musical or keyboard instruments, when their volume increased by X% to X units. Overall, imports saw a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, electrical musical instrument imports surged to $X in 2022. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical musical instrument to Indonesia, accounting for a X% share of total imports. Moreover, electrical musical instrument imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), fourfold. The United States (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of electrical musical or keyboard instruments to Indonesia, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by India, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and India (X% per year).

Import Prices by Country

The average electrical musical instrument import price stood at $X per unit in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($X per unit) and Malaysia ($X per unit), while the price for Singapore ($X per unit) and the United States ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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