Italy: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Italy

In 2022, the Italian percussion musical instrument market increased by 28% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Percussion Musical Instrument Production in Italy

In value terms, percussion musical instrument production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2014 when the production volume increased by 19%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Percussion Musical Instrument Exports

Exports from Italy

In 2022, shipments abroad of percussion musical instruments decreased by -2% to X units, falling for the second consecutive year after two years of growth. Overall, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 43%. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, percussion musical instrument exports surged to $X in 2022. Over the period under review, exports saw a perceptible decline. The most prominent rate of growth was recorded in 2014 with an increase of 34% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), Spain (X units) and France (X units) were the main destinations of percussion musical instrument exports from Italy, with a combined 42% share of total exports. Germany, the UK, the United Arab Emirates, Switzerland, China, the Czech Republic, Japan, Portugal, Australia and Poland lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +27.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for percussion musical instrument exported from Italy were the United States ($X), Spain ($X) and France ($X), with a combined 44% share of total exports. Germany, the UK, the United Arab Emirates, Switzerland, China, the Czech Republic, Japan, Portugal, Poland and Australia lagged somewhat behind, together comprising a further 44%.

In terms of the main countries of destination, Poland, with a CAGR of +31.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average percussion musical instrument export price amounted to $X per unit, increasing by 28% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, percussion musical instrument export price increased by +58.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 38% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

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 Poland ($X per unit), while the average price for exports to Australia ($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 United Arab Emirates (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Italy

In 2022, supplies from abroad of percussion musical instruments increased by 30% to X units, rising for the third consecutive year after two years of decline. Overall, imports enjoyed a notable expansion. The growth pace was the most rapid in 2021 with an increase of 114%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, percussion musical instrument imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 39%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), the Netherlands (X units) and Germany (X units) were the main suppliers of percussion musical instrument imports to Italy, with a combined 62% share of total imports. The United States, France, Spain and South Korea lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +21.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest percussion musical instrument suppliers to Italy were China ($X), the Netherlands ($X) and Germany ($X), together accounting for 62% of total imports. The United States, France, Spain and South Korea lagged somewhat behind, together accounting for a further 27%.

Among the main suppliers, South Korea, with a CAGR of +13.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average percussion musical instrument import price amounted to $X per unit, waning by -4.2% against the previous year. In general, the import price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when the average import price increased by 5.2%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained 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 the United States ($X per unit) and China ($X per unit), while the price for Spain ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-7.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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