Malaysia: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Malaysia

The Malaysian percussion musical instrument market dropped markedly to $X in 2022, waning by -28.6% against the previous year. Over the period under review, consumption showed a perceptible decrease. As a result, consumption attained the peak level of $X, and then contracted dramatically in the following year.

Percussion Musical Instrument Production in Malaysia

In value terms, percussion musical instrument production rose remarkably to $X in 2022 estimated in export price. In general, production, however, saw a perceptible reduction. The growth pace was the most rapid in 2020 when the production volume increased by 47%. Percussion musical instrument production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Percussion Musical Instrument Exports

Exports from Malaysia

In 2022, approx. X units of percussion musical instruments were exported from Malaysia; falling by -15.6% compared with 2021 figures. Overall, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2015 with an increase of 276%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, percussion musical instrument exports reduced to $X in 2022. In general, exports continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2015 with an increase of 229% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X units), Germany (X units) and New Zealand (X units) were the main destinations of percussion musical instrument exports from Malaysia, with a combined 51% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +57.9%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for percussion musical instruments exports from Malaysia, comprising 41% of total exports. The second position in the ranking was taken by India ($X), with a 20% share of total exports. It was followed by New Zealand, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR amounted to +82.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-1.1% per year) and New Zealand (+74.9% per year).

Export Prices by Country

In 2022, the average percussion musical instrument export price amounted to $X per unit, rising by 2.2% against the previous year. Overall, the export price continues to indicate a prominent increase. The growth pace was the most rapid in 2013 an increase of 43%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

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 Hong Kong SAR ($X per unit), while the average price for exports to Japan ($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 Peru (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into Malaysia

In 2022, percussion musical instrument imports into Malaysia shrank notably to X units, reducing by -40.2% on 2021 figures. Overall, imports, however, enjoyed a temperate expansion. The pace of growth was the most pronounced in 2021 when imports increased by 407% against the previous year. As a result, imports reached the peak of X units, and then contracted dramatically in the following year.

In value terms, percussion musical instrument imports contracted sharply to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 299%. As a result, imports reached the peak of $X, and then shrank notably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest percussion musical instrument supplier to Malaysia, accounting for a 57% share of total imports. Moreover, percussion musical instrument imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), fourfold. The third position in this ranking was held by Japan (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-0.7% per year) and Japan (+12.2% per year).

In value terms, China ($X) constituted the largest supplier of percussion musical instruments to Malaysia, comprising 50% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 24% share of total imports. It was followed by the United States, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-4.8% per year) and the United States (-5.5% per year).

Import Prices by Country

In 2022, the average percussion musical instrument import price amounted to $X per unit, picking up by 4.6% against the previous year. Overall, the import price, however, continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2017 when the average import price increased by 29% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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