Italy: Piano Market 2024

Piano Market Size in Italy

The Italian piano market rose remarkably to $X in 2021, increasing by 9.3% against the previous year. Over the period under review, consumption posted a remarkable increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Piano Production in Italy

In value terms, piano production fell markedly to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 4,661% against the previous year. Piano production peaked at $X in 2020, and then reduced markedly in the following year.

Piano Exports

Exports from Italy

In 2021, shipments abroad of pianos and other keyboard stringed musical instruments was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports posted a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, piano exports soared to $X in 2021. The total export value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 27% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Tunisia (X tons) was the main destination for piano exports from Italy, with a 46% share of total exports. Moreover, piano exports to Tunisia exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The third position in this ranking was held by Switzerland (X tons), with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Tunisia stood at +39.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+9.4% per year) and Switzerland (+7.0% per year).

In value terms, the United States ($X), China ($X) and Tunisia ($X) were the largest markets for piano exported from Italy worldwide, together accounting for 39% of total exports.

Tunisia, with a CAGR of +51.2%, saw the highest growth rate of 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

The average piano export price stood at $X per ton in 2021, shrinking by -38.1% against the previous year. In general, the export price saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 an increase of 29% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Piano Imports

Imports into Italy

Piano imports into Italy surged to X tons in 2021, with an increase of 140% against 2020 figures. Over the period under review, total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, piano imports surged to $X in 2021. In general, imports showed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons) constituted the largest piano supplier to Italy, with a 46% share of total imports. Moreover, piano imports from Japan exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. Spain (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+5.7% per year) and Spain (+223.7% per year).

In value terms, Germany ($X), France ($X) and Japan ($X) appeared to be the largest piano suppliers to Italy, together accounting for 73% of total imports. Spain, China, Indonesia and Vietnam lagged somewhat behind, together accounting for a further 19%.

In terms of the main suppliers, Spain, with a CAGR of +221.1%, recorded the highest rates of growth with regard to 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 2021, the average piano import price amounted to $X per ton, picking up by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+7.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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