Kuwait: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Kuwait

The Kuwaiti percussion musical instrument market shrank notably to $X in 2022, dropping by -21.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +14.8% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Percussion Musical Instrument Exports

Exports from Kuwait

In 2022, the amount of percussion musical instruments exported from Kuwait shrank remarkably to X units, waning by -25.5% on 2021 figures. Overall, exports, however, saw a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 263% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, percussion musical instrument exports reduced remarkably to $X in 2022. In general, exports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 when exports increased by 386%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for percussion musical instrument exports from Kuwait, accounting for a 60% share of total exports. Moreover, percussion musical instrument exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X units), twofold. Bahrain (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+16.2% per year) and Bahrain (+2.9% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for percussion musical instruments exports from Kuwait, comprising 83% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 12% share of total exports. It was followed by Bahrain, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+27.3% per year) and Bahrain (+3.8% per year).

Export Prices by Country

The average percussion musical instrument export price stood at $X per unit in 2022, increasing by 4.9% against the previous year. In general, export price indicated perceptible growth from 2012 to 2022: its price 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, percussion musical instrument export price decreased by -8.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 67% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Qatar ($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 Saudi Arabia (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Kuwait

In 2022, imports of percussion musical instruments into Kuwait shrank rapidly to X units, declining by -28.4% compared with the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 93% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, percussion musical instrument imports reduced to $X in 2022. Overall, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 +12.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 48% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Pakistan (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of percussion musical instrument imports to Kuwait, together comprising 55% of total imports. Turkey, India, the United Arab Emirates, Iran, the United States, Thailand, the UK, Indonesia, Egypt and Italy lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of +59.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest percussion musical instrument suppliers to Kuwait were China ($X), Indonesia ($X) and Taiwan (Chinese) ($X), together accounting for 38% of total imports. The UK, the United States, Turkey, the United Arab Emirates, Thailand, Italy, Pakistan, Iran, Egypt and India lagged somewhat behind, together accounting for a further 43%.

Thailand, with a CAGR of +31.1%, saw the highest growth rate of the value of imports, among the main suppliers 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, surging by 26% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% 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 import price decreased by -23.5% against 2019 indices. The growth pace was the most rapid in 2018 when the average import price increased by 63% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per unit), while the price for Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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