Report Update Nov 1, 2024

Malaysia - Pianos and Other Keyboard Stringed Musical Instruments - Market Analysis, Forecast, Size, Trends and Insights

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Malaysia: Piano Market 2024

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

Frequently Asked Questions (FAQ) :

What are the largest markets for pianos and other keyboard stringed musical instruments in the world?

The country with the largest volume of piano consumption was China, accounting for 30% of total volume. Moreover, piano consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. Pakistan ranked third in terms of total consumption with a 5.7% share.

What are the largest producers of pianos and other keyboard stringed musical instruments in the world?

The country with the largest volume of piano production was Japan, comprising approx. 29% of total volume. Moreover, piano production in Japan exceeded the figures recorded by the second-largest producer, China, twofold. The third position in this ranking was occupied by Indonesia, with a 13% share.

What are the leading suppliers of pianos and other keyboard stringed musical instruments to Malaysia?

In value terms, Indonesia constituted the largest supplier of piano to Malaysia, comprising 73% of total imports. The second position in the ranking was occupied by Japan, with a 15% share of total imports.

What are the leading importers of pianos and other keyboard stringed musical instruments from Malaysia?

In value terms, Russia, the United Arab Emirates and Singapore were the largest markets for piano exported from Malaysia worldwide, together comprising 59% of total exports.

What is the average export price for pianos and other keyboard stringed musical instruments in Malaysia?

The average piano export price stood at $19,487 per ton in 2020, falling by -8.4% against the previous year.

What is the average import price for pianos and other keyboard stringed musical instruments in Malaysia?

The average piano import price stood at $13,299 per ton in 2020, growing by 2.7% against the previous year.

This report provides an in-depth analysis of the piano market in Malaysia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32201110 - Acoustic new upright pianos (including automatic pianos)
Prodcom 32201130 - Acoustic grand pianos (including automatic pianos)
Prodcom 32201150 - Keyboard stringed instruments (including harpsichords, s pinets and clavichords)

Country coverage:

Malaysia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Malaysia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023