Latin America and the Caribbean: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Latin America and the Caribbean

The Latin American electrical musical instrument market totaled $X in 2022, rising by X% against the previous year. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Electrical Musical Instrument Production in Latin America and the Caribbean

In value terms, electrical musical instrument production rose notably to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Electrical Musical Instrument Exports

Exports in Latin America and the Caribbean

After three years of growth, shipments abroad of electrical musical or keyboard instruments decreased by X% to X units in 2022. In general, exports showed a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, electrical musical instrument exports soared to $X in 2022. Overall, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units) and Panama (X units) represented the main exporters of electrical musical or keyboard instruments in 2022, reaching near X% and X% of total exports, respectively. It was distantly followed by Chile (X units), creating an X% share of total exports. Brazil (X units) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Brazil (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Panama ($X), Chile ($X) and Mexico ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports. These countries were followed by Brazil, which accounted for a further X%.

Among the main exporting countries, Brazil, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, surging by X% against the previous year. In general, the export price recorded a measured expansion. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced mixed trends in the export price figures.

Electrical Musical Instrument Imports

Imports in Latin America and the Caribbean

For the third consecutive year, LatAmerica and the Caribbean recorded growth in overseas purchases of electrical musical or keyboard instruments, which increased by X% to X units in 2022. Overall, imports, however, saw a slight decrease. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, electrical musical instrument imports stood at $X in 2022. Over the period under review, imports, however, recorded a mild slump. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of electrical musical instrument imports in 2022 were Brazil (X units), Chile (X units) and Mexico (X units), together finishing at X% of total import. Argentina (X units) held the next position in the ranking, followed by Peru (X units) and Colombia (X units). All these countries together took near X% share of total imports. Guatemala (X units) held a little share of total imports.

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

In value terms, the largest electrical musical instrument importing markets in Latin America and the Caribbean were Brazil ($X), Chile ($X) and Mexico ($X), together comprising X% of total imports. Peru, Argentina, Guatemala and Colombia lagged somewhat behind, together comprising a further X%.

Guatemala, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, surging by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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