MENA: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in MENA

In 2022, the MENA's electrical musical instrument market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption, however, posted a remarkable increase. The level of consumption peaked at $X in 2021, and then shrank modestly in the following year.

Electrical Musical Instrument Production in MENA

In value terms, electrical musical instrument production expanded slightly to $X in 2022 estimated in export price. In general, production recorded a buoyant increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Electrical Musical Instrument Exports

Exports in MENA

In 2022, overseas shipments of electrical musical or keyboard instruments were finally on the rise to reach X units after two years of decline. Overall, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electrical musical instrument exports soared to $X in 2022. In general, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X units, which was approx. X% of total exports in 2022. It was distantly followed by Turkey (X units), committing a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the electrical musical or keyboard instruments exports, with a CAGR of X% from 2012 to 2022. At the same time, Turkey (X%) displayed positive paces of growth. While the share of the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest electrical musical instrument supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

In the United Arab Emirates, electrical musical instrument exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, declining by X% against the previous year. In general, the export price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Turkey amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Electrical Musical Instrument Imports

Imports in MENA

In 2022, the amount of electrical musical or keyboard instruments imported in MENA surged to X units, jumping by X% against the previous year's figure. Total imports indicated a prominent expansion from 2012 to 2022: its volume 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, imports increased by X% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, electrical musical instrument imports totaled $X in 2022. Total imports indicated a buoyant expansion 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, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The United Arab Emirates (X units) and Turkey (X units) prevails in imports structure, together generating X% of total imports. It was distantly followed by Iraq (X units) and Israel (X units), together achieving a X% share of total imports. Oman (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Iraq and Oman lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, declining by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2021, and then fell sharply in the following year.

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 Israel ($X per unit), while Iraq ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform