Italy: Accordion Market 2024

Accordion Market Size in Italy

In 2021, the Italian accordion market decreased by -98.7% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption recorded a dramatic downturn. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank dramatically in the following year.

Accordion Production in Italy

In value terms, accordion production contracted significantly to $X in 2021 estimated in export price. In general, production continues to indicate a sharp decline. The most prominent rate of growth was recorded in 2014 with an increase of 74%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Accordion Exports

Exports from Italy

For the fourth consecutive year, Italy recorded growth in overseas shipments of accordions and mouth organs, which increased by 7.4% to X units in 2021. Overall, exports, however, saw a pronounced shrinkage. The growth pace was the most rapid in 2014 when exports increased by 31% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, accordion exports soared to $X in 2021. The total export value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units), the United States (X units) and France (X units) were the main destinations of accordion exports from Italy, with a combined 49% share of total exports. These countries were followed by Austria, Spain, Slovakia, Hungary, South Korea, the Netherlands, Portugal, Panama, Japan and China, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovakia (with a CAGR of +62.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for accordion exported from Italy were the United States ($X), Germany ($X) and France ($X), with a combined 51% share of total exports. Austria, South Korea, Spain, China, Portugal, Japan, the Netherlands, Slovakia, Hungary and Panama lagged somewhat behind, together comprising a further 26%.

Slovakia, with a CAGR of +34.6%, saw the highest rates of growth with regard to 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

In 2021, the average accordion export price amounted to $X per unit, picking up by 7.8% against the previous year. Over the last nine years, it increased at an average annual rate of +4.0%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 41%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Panama ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Accordion Imports

Imports into Italy

In 2021, supplies from abroad of accordions and mouth organs decreased by -52.1% to X units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports recorded a slight reduction. The most prominent rate of growth was recorded in 2019 with an increase of 49%. Imports peaked at X units in 2020, and then shrank dramatically in the following year.

In value terms, accordion imports fell markedly to $X in 2021. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 44% against the previous year. Imports peaked at $X in 2020, and then declined dramatically in the following year.

Imports by Country

In 2021, China (X units) constituted the largest supplier of accordion to Italy, with a 35% share of total imports. Moreover, accordion imports from China exceeded the figures recorded by the second-largest supplier, France (X units), twofold. Germany (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.3% per year) and Germany (-1.0% per year).

In value terms, France ($X) constituted the largest supplier of accordions and mouth organs to Italy, comprising 36% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by Germany, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.8% per year) and Germany (-3.6% per year).

Import Prices by Country

In 2021, the average accordion import price amounted to $X per unit, picking up by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 35%. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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