Lithuania: Piano Market 2020

Piano Market Size in Lithuania

The revenue of the piano market in Lithuania amounted to $X in 2018, jumping by X% against the previous year. Overall, piano consumption continues to indicate a tangible increase. The pace of growth appeared the most rapid in 2011 when the market value increased by X% against the previous year. Over the period under review, the piano market attained its maximum level at $X in 2012; however, from 2013 to 2018, consumption remained at a lower figure.

Piano Production in Lithuania

In value terms, piano production stood at $X in 2018 estimated in export prices. Over the period under review, piano production continues to indicate an abrupt decline. Over the period under review, piano production attained its maximum level at $X in 2014; however, from 2015 to 2018, production failed to regain its momentum.

Piano Exports

Exports from Lithuania

In 2018, the exports of pianos and other keyboard stringed musical instruments from Lithuania totaled X units, growing by X% against the previous year. In general, piano exports, however, continue to indicate a mild drop. The most prominent rate of growth was recorded in 2016 with an increase of X% year-to-year. Over the period under review, piano exports attained their maximum at X units in 2008; however, from 2009 to 2018, exports failed to regain their momentum.

In value terms, piano exports amounted to $X in 2018. Over the period under review, piano exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Lithuania exports peaked at $X in 2012; however, from 2013 to 2018, exports remained at a lower figure.

Exports by Country

Japan represented the key exporting country with an export of around X units, which reached X% of total exports. Indonesia (X units) occupied a X% share (based on tons) of total exports, which put it in second place, followed by China (X%). The following exporters - Germany (X units), Oman (X units) and Malaysia (X units) - together made up X% of total exports.

From 2007 to 2018, average annual rates of growth with regard to piano exports from Japan stood at +X%. At the same time, Oman (+X%), Indonesia (+X%) and Malaysia (+X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. By contrast, Germany (-X%) and China (-X%) illustrated a downward trend over the same period. Japan (+X p.p.), Indonesia (+X p.p.) and Oman (+X p.p.) significantly strengthened its position in terms of the global exports, while Germany and China saw its share reduced by -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest piano supplier from Lithuania, comprising X% of global exports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of global exports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in Japan amounted to +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Germany (-X% per year).

Export Prices by Country

In 2018, the piano export price in Lithuania amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the piano export price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2011 an increase of X% year-to-year. Over the period under review, the export prices for pianos and other keyboard stringed musical instruments reached their maximum at $X per unit in 2012; however, from 2013 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Germany ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced mixed trends in the export price figures.

Piano Imports

Imports into Lithuania

In 2018, the imports of pianos and other keyboard stringed musical instruments into Lithuania totaled X units, picking up by X% against the previous year. Overall, piano imports, however, continue to indicate a moderate slump. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Lithuania imports peaked at X units in 2012; however, from 2013 to 2018, imports failed to regain their momentum.

In value terms, piano imports amounted to $X in 2018. Overall, piano imports, however, continue to indicate a perceptible shrinkage. The growth pace was the most rapid in 2015 when imports increased by X% y-o-y. Lithuania imports peaked at $X in 2007; however, from 2008 to 2018, imports remained at a lower figure.

Imports by Country

China was the key importing country with an import of around X units, which accounted for X% of total imports. The U.S. (X units) occupied a X% share (based on tons) of total imports, which put it in second place, followed by Vietnam (X%) and Germany (X%). The following importers - Malaysia (X units), France (X units), Australia (X units), Qatar (X units), Canada (X units), South Korea (X units), the UK (X units) and Israel (X units) - together made up X% of total imports.

Imports into China increased at an average annual rate of +X% from 2007 to 2018. At the same time, Qatar (+X%), Vietnam (+X%) and Israel (+X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Australia (-X%), Germany (-X%), Malaysia (-X%), the UK (-X%), France (-X%), the U.S. (-X%), Canada (-X%) and South Korea (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of China, Vietnam, Qatar and Israel increased by +X%, +X%, +X% and +X% percentage points, while Malaysia (-X p.p.), France (-X p.p.), Canada (-X p.p.), South Korea (-X p.p.) and the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), the U.S. ($X) and Germany ($X) were the countries with the highest levels of imports in 2018, together accounting for X% of total imports.

China experienced the highest rates of growth with regard to imports, among the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the piano import price in Lithuania amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the piano import price, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. Over the period under review, the import prices for pianos and other keyboard stringed musical instruments reached their maximum at $X per unit in 2009; however, from 2010 to 2018, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform