Ireland: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Ireland

In 2022, the Irish percussion musical instrument market increased by 48% to $X, rising for the third year in a row after two years of decline. Overall, consumption enjoyed a remarkable increase. Percussion musical instrument consumption peaked in 2022 and is likely to see gradual growth in years to come.

Percussion Musical Instrument Exports

Exports from Ireland

In 2022, the amount of percussion musical instruments exported from Ireland contracted to X units, waning by -8% on the previous year's figure. In general, exports continue to indicate a slight setback. The growth pace was the most rapid in 2015 when exports increased by 1,319% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, percussion musical instrument exports soared to $X in 2022. Over the period under review, exports, however, enjoyed a noticeable increase. The pace of growth appeared the most rapid in 2015 with an increase of 1,314% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The UK (X units) was the main destination for percussion musical instrument exports from Ireland, with a 64% share of total exports. Moreover, percussion musical instrument exports to the UK exceeded the volume sent to the second major destination, the United States (X units), sixfold. Taiwan (Chinese) (X units) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK stood at +29.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.3% per year) and Taiwan (Chinese) (0.0% per year).

In value terms, the UK ($X) emerged as the key foreign market for percussion musical instruments exports from Ireland, comprising 64% of total exports. The second position in the ranking was taken by the United States ($X), with a 10% share of total exports. It was followed by Taiwan (Chinese), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK amounted to +34.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.6% per year) and Taiwan (Chinese) (0.0% per year).

Export Prices by Country

In 2022, the average percussion musical instrument export price amounted to $X per unit, increasing by 40% against the previous year. Overall, the export price enjoyed a measured increase. The growth pace was the most rapid in 2013 when the average export price increased by 84%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Switzerland ($X per unit) and New Zealand ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) and Spain ($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 New Zealand (+36.5%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Ireland

For the third consecutive year, Ireland recorded growth in purchases abroad of percussion musical instruments, which increased by 83% to X units in 2022. Over the period under review, imports showed a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, percussion musical instrument imports surged to $X in 2022. In general, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.5% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 35%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest percussion musical instrument supplier to Ireland, with a 37% share of total imports. Moreover, percussion musical instrument imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The United States (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+17.5% per year) and the United States (+11.2% per year).

In value terms, China ($X) constituted the largest supplier of percussion musical instruments to Ireland, comprising 36% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.3% per year) and the United States (+2.4% per year).

Import Prices by Country

The average percussion musical instrument import price stood at $X per unit in 2022, dropping by -30.8% against the previous year. Overall, the import price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2017 an increase of 6.3%. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per unit) and Germany ($X per unit), while the price for the United Arab Emirates ($X per unit) and Thailand ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-7.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :