Italy: Keyboard Stringed Instrument Market 2024

Keyboard Stringed Instrument Market Size in Italy

In 2022, the Italian keyboard stringed instrument market decreased by -4.4% to $X, falling for the fifth year in a row after three years of growth. In general, consumption showed a pronounced curtailment. Keyboard stringed instrument consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Keyboard Stringed Instrument Production in Italy

In value terms, keyboard stringed instrument production soared to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt decline. Keyboard stringed instrument production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Keyboard Stringed Instrument Exports

Exports from Italy

Keyboard stringed instrument exports from Italy shrank to X units in 2022, dropping by -7.8% on 2021 figures. Overall, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 249%. Over the period under review, the exports reached the maximum at X units in 2021, and then shrank in the following year.

In value terms, keyboard stringed instrument exports dropped markedly to $X in 2022. Over the period under review, exports continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2018 when exports increased by 71% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Tunisia (X units) was the main destination for keyboard stringed instrument exports from Italy, accounting for a 81% share of total exports. Moreover, keyboard stringed instrument exports to Tunisia exceeded the volume sent to the second major destination, Japan (X units), more than tenfold. The third position in this ranking was taken by the United States (X units), with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Tunisia totaled +32.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-1.7% per year) and the United States (+12.6% per year).

In value terms, Tunisia ($X) remains the key foreign market for keyboard stringed instruments exports from Italy, comprising 30% of total exports. The second position in the ranking was taken by the United States ($X), with a 12% share of total exports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Tunisia totaled +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+3.9% per year) and Japan (-12.0% per year).

Export Prices by Country

In 2022, the average keyboard stringed instrument export price amounted to $X per unit, waning by -8.3% against the previous year. Overall, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 an increase of 44% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Tunisia ($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 the UK (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Keyboard Stringed Instrument Imports

Imports into Italy

In 2022, overseas purchases of keyboard stringed instruments increased by 41% to X units, rising for the second year in a row after three years of decline. Over the period under review, imports saw a strong expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 498%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, keyboard stringed instrument imports rose significantly to $X in 2022. In general, imports recorded a strong increase. The growth pace was the most rapid in 2021 when imports increased by 313% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X units) was the main keyboard stringed instrument supplier to Italy, with a 98% share of total imports. It was followed by the UK (X units), with a 1.3% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +31.6%.

In value terms, Germany ($X) constituted the largest supplier of keyboard stringed instruments to Italy, comprising 98% of total imports. The second position in the ranking was taken by the UK ($X), with a 1.3% share of total imports. It was followed by France, with a 0.1% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-6.4% per year) and France (-27.7% per year).

Import Prices by Country

The average keyboard stringed instrument import price stood at $X per unit in 2022, waning by -19.9% against the previous year. In general, the import price showed a noticeable descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 60% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, 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 France ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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