MERCOSUR: Grand Piano Market 2024

Grand Piano Market Size in MERCOSUR

In 2021, the MERCOSUR grand piano market increased by 92% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, recorded a slight descent. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Grand Piano Production in MERCOSUR

In value terms, grand piano production totaled $X in 2021 estimated in export price. Overall, production enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 189% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Grand Piano Exports

Exports in MERCOSUR

In 2021, approx. X tons of acoustic grand pianos were exported in MERCOSUR; rising by 89% compared with the previous year. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 206%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, grand piano exports surged to $X in 2021. Over the period under review, exports, however, showed a slight setback. The pace of growth was the most pronounced in 2014 with an increase of 193%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Argentina (X tons) represented the main exporter of acoustic grand pianos, achieving 56% of total exports. Venezuela (X kg) held the second position in the ranking, distantly followed by Uruguay (X kg). All these countries together took approx. 44% share of total exports.

Exports from Argentina increased at an average annual rate of +3.7% from 2012 to 2021. At the same time, Venezuela (+36.1%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +36.1% from 2012-2021. By contrast, Uruguay (-3.2%) illustrated a downward trend over the same period. While the share of Venezuela (+24 p.p.) and Argentina (+13 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Uruguay (-8 p.p.) displayed negative dynamics.

In value terms, the largest grand piano supplying countries in MERCOSUR were Argentina ($X), Uruguay ($X) and Venezuela ($X), together accounting for 100% of total exports.

Among the main exporting countries, Venezuela, with a CAGR of +24.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, which is down by -17.2% against the previous year. In general, the export price saw a perceptible descent. The pace of growth appeared the most rapid in 2014 when the export price increased by 55% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Uruguay ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+10.1%), while the other leaders experienced a decline in the export price figures.

Grand Piano Imports

Imports in MERCOSUR

In 2021, after three years of decline, there was significant growth in overseas purchases of acoustic grand pianos, when their volume increased by 72% to X tons. Overall, imports, however, showed a pronounced decline. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, grand piano imports surged to $X in 2021. Over the period under review, imports, however, showed a mild contraction. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Brazil was the major importing country with an import of around X tons, which amounted to 50% of total imports. Argentina (X tons) ranks second in terms of the total imports with a 15% share, followed by Chile (9.1%), Uruguay (8.3%), Colombia (7.8%) and Ecuador (6%). Paraguay (X tons) held a minor share of total imports.

Imports into Brazil decreased at an average annual rate of -4.9% from 2012 to 2021. At the same time, Ecuador (+34.3%), Uruguay (+15.4%), Chile (+7.6%), Argentina (+2.7%) and Paraguay (+2.5%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +34.3% from 2012-2021. By contrast, Colombia (-13.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Uruguay, Argentina, Ecuador and Chile increased by +6.7, +6.3, +5.7 and +5.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported acoustic grand pianos in MERCOSUR, comprising 49% of total imports. The second position in the ranking was taken by Argentina ($X), with an 18% share of total imports. It was followed by Chile, with a 9.9% share.

In Brazil, grand piano imports decreased by an average annual rate of -2.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+4.4% per year) and Chile (+2.4% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, with an increase of 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2017 when the import price increased by 20%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Argentina ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform