Malaysia: Piano Market 2025

Piano Market Size in Malaysia

After two years of decline, the Malaysian piano market increased by 41% to $X in 2021. Overall, consumption, however, recorded a pronounced slump. Piano consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Piano Production in Malaysia

In value terms, piano production surged to $X in 2021 estimated in export price. Over the period under review, production continues to indicate buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of 178%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Piano Exports

Exports from Malaysia

In 2021, overseas shipments of pianos and other keyboard stringed musical instruments decreased by -82.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 421% against the previous year. As a result, the exports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, piano exports shrank sharply to $X in 2021. Over the period under review, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2020 when exports increased by 410% against the previous year. As a result, the exports attained the peak of $X, and then dropped notably in the following year.

Exports by Country

India (X tons), the United Arab Emirates (X tons) and New Zealand (X tons) were the main destinations of piano exports from Malaysia, with a combined 78% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by New Zealand (with a CAGR of +123.2%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United Arab Emirates ($X) and New Zealand ($X) were the largest markets for piano exported from Malaysia worldwide, with a combined 67% share of total exports.

New Zealand, with a CAGR of +80.3%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the average piano export price amounted to $X per ton, shrinking by -19% against the previous year. Overall, the export price, however, posted a moderate increase. The most prominent rate of growth was recorded in 2013 an increase of 203% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Singapore ($X per ton), while the average price for exports to China ($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 Belgium (+22.7%), while the prices for the other major destinations experienced more modest paces of growth.

Piano Imports

Imports into Malaysia

Piano imports into Malaysia fell to X tons in 2021, waning by -10.6% on the previous year's figure. In general, imports showed a pronounced downturn. The most prominent rate of growth was recorded in 2020 with an increase of 41%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, piano imports stood at $X in 2021. Over the period under review, imports recorded a noticeable setback. The growth pace was the most rapid in 2015 with an increase of 13%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest piano supplier to Malaysia, with a 80% share of total imports. Moreover, piano imports from Indonesia exceeded the figures recorded by the second-largest supplier, Japan (X tons), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia amounted to -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.5% per year) and China (+2.5% per year).

In value terms, Indonesia ($X) constituted the largest supplier of pianos and other keyboard stringed musical instruments to Malaysia, comprising 72% of total imports. The second position in the ranking was held by China ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Indonesia totaled -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.8% per year) and Japan (-6.6% per year).

Import Prices by Country

In 2021, the average piano import price amounted to $X per ton, growing by 25% against the previous year. In general, the import price, however, saw a perceptible curtailment. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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