Indonesia: Piano Market 2024

Piano Market Size in Indonesia

The Indonesian piano market contracted significantly to $X in 2021, waning by -24.8% against the previous year. In general, consumption recorded a perceptible reduction. Piano consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Piano Production in Indonesia

In value terms, piano production soared to $X in 2021 estimated in export price. Overall, production, however, showed a mild shrinkage. Piano production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Piano Exports

Exports from Indonesia

In 2021, the amount of pianos and other keyboard stringed musical instruments exported from Indonesia soared to X tons, picking up by 38% against the previous year. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, piano exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for piano exports from Indonesia, accounting for a 37% share of total exports. Moreover, piano exports to China exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-1.7% per year) and Germany (-3.6% per year).

In value terms, the largest markets for piano exported from Indonesia were China ($X), the United States ($X) and Germany ($X), together accounting for 61% of total exports. Malaysia, the Netherlands, Japan, France, the UK, the United Arab Emirates, Australia, Canada and South Korea lagged somewhat behind, together comprising a further 33%.

The Netherlands, with a CAGR of +10.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average piano export price stood at $X per ton in 2021, with an increase of 2.8% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 4.9% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Piano Imports

Imports into Indonesia

In 2021, imports of pianos and other keyboard stringed musical instruments into Indonesia shrank sharply to X tons, reducing by -52% on the previous year's figure. Overall, imports continue to indicate a sharp slump. The most prominent rate of growth was recorded in 2019 with an increase of 265% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, piano imports fell to $X in 2021. Over the period under review, imports faced a abrupt shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 39%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and the United States (X tons) were the main suppliers of piano imports to Indonesia, with a combined 80% share of total imports. Singapore, the United Arab Emirates and Germany lagged somewhat behind, together comprising a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +12.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest piano suppliers to Indonesia were China ($X), the United States ($X) and Singapore ($X), with a combined 55% share of total imports. Japan, Germany and the United Arab Emirates lagged somewhat behind, together accounting for a further 26%.

Germany, with a CAGR of +7.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average piano import price stood at $X per ton in 2021, increasing by 78% against the previous year. Over the period under review, the import price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by 290%. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for China ($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 United Arab Emirates (+31.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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