Indonesia: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Indonesia

The Indonesian percussion musical instrument market reduced to $X in 2022, falling by -1.8% against the previous year. Overall, consumption, however, showed a perceptible descent. Percussion musical instrument consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Percussion Musical Instrument Production in Indonesia

In value terms, percussion musical instrument production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 20%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Percussion Musical Instrument Exports

Exports from Indonesia

In 2022, overseas shipments of percussion musical instruments increased by 12% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2019 when exports increased by 68% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, percussion musical instrument exports contracted to $X in 2022. Over the period under review, exports, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 42% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for percussion musical instrument exports from Indonesia, with a 52% share of total exports. Moreover, percussion musical instrument exports to the United States exceeded the volume sent to the second major destination, China (X units), sevenfold. Australia (X units) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-9.2% per year) and Australia (-10.9% per year).

In value terms, the largest markets for percussion musical instrument exported from Indonesia were the United States ($X), China ($X) and Germany ($X), together comprising 52% of total exports. The UK, Australia, the Netherlands, Canada, Thailand and Chile lagged somewhat behind, together accounting for a further 12%.

In terms of the main countries of destination, Chile, with a CAGR of +25.5%, saw the highest growth rate of 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

The average percussion musical instrument export price stood at $X per unit in 2022, with a decrease of -16.2% against the previous year. In general, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, percussion musical instrument export price increased by +22.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 53% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then shrank markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Chile ($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 China (+16.2%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Indonesia

In 2022, supplies from abroad of percussion musical instruments was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a abrupt setback. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, percussion musical instrument imports surged to $X in 2022. Overall, imports, however, showed a pronounced setback. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of percussion musical instrument to Indonesia, accounting for a 63% share of total imports. Moreover, percussion musical instrument imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was held by Singapore (X units), with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+18.5% per year) and Singapore (-18.4% per year).

In value terms, China ($X) constituted the largest supplier of percussion musical instruments to Indonesia, comprising 62% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Taiwan (Chinese), with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+25.6% per year) and Taiwan (Chinese) (-16.3% per year).

Import Prices by Country

The average percussion musical instrument import price stood at $X per unit in 2022, rising by 23% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, percussion musical instrument import price increased by +22.1% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Thailand ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :