Ireland: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Ireland

In 2022, the Irish electrical musical instrument market decreased by X% to $X, falling for the second year in a row after six years of growth. Over the period under review, consumption continues to indicate a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Electrical Musical Instrument Exports

Exports from Ireland

In 2022, exports of electrical musical or keyboard instruments from Ireland surged to X units, increasing by X% against 2021 figures. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, electrical musical instrument exports soared to $X in 2022. Overall, exports showed prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The UK (X units), the United States (X units) and Israel (X units) were the main destinations of electrical musical instrument exports from Ireland, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of X.0%), while shipments for the other leaders experienced more modest paces of growth.

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

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

Export Prices by Country

The average electrical musical instrument export price stood at $X per unit in 2022, growing by X% against the previous year. Overall, the export price, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Israel ($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 Russia (X.2%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Musical Instrument Imports

Imports into Ireland

In 2022, electrical musical instrument imports into Ireland rose significantly to X units, surging by X% compared with 2021 figures. In general, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, electrical musical instrument imports fell to $X in 2022. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Germany (X units) and Indonesia (X units) were the main suppliers of electrical musical instrument imports to Ireland, with a combined X% share of total imports. The UK, the Netherlands, the United States and Japan lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

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

Import Prices by Country

In 2022, the average electrical musical instrument import price amounted to $X per unit, declining by X% against the previous year. Overall, the import price recorded a pronounced decline. The pace of growth was the most pronounced in 2018 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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