MERCOSUR: Upright Piano Market 2024

Upright Piano Market Size in MERCOSUR

For the fifth year in a row, the MERCOSUR upright piano market recorded growth in sales value, which increased by 2.5% to $X in 2022. In general, consumption showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the market value increased by 8.1%. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Upright Piano Production in MERCOSUR

In value terms, upright piano production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when the production volume increased by 31% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Upright Piano Exports

Exports in MERCOSUR

In 2022, the amount of acoustic new upright pianos exported in MERCOSUR contracted remarkably to X units, waning by -20.5% on the previous year. Over the period under review, exports recorded a slight contraction. The most prominent rate of growth was recorded in 2021 with an increase of 63%. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, upright piano exports surged to $X in 2022. Total exports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 70%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Chile represented the major exporter of acoustic new upright pianos in MERCOSUR, with the volume of exports finishing at X units, which was near 37% of total exports in 2022. It was distantly followed by Argentina (X units), Venezuela (X units), Colombia (X units) and Peru (X units), together committing a 54% share of total exports. The following exporters - Brazil (X units) and Ecuador (X units) - each reached a 5.7% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +6.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Venezuela ($X) and Argentina ($X) were the countries with the highest levels of exports in 2022, with a combined 88% share of total exports.

In terms of the main exporting countries, Venezuela, with a CAGR of +34.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MERCOSUR stood at $X per unit in 2022, growing by 75% against the previous year. Export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X per unit in 2013; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+28.0%), while the other leaders experienced more modest paces of growth.

Upright Piano Imports

Imports in MERCOSUR

In 2022, after four years of growth, there was significant decline in overseas purchases of acoustic new upright pianos, when their volume decreased by -5.5% to X units. Over the period under review, imports showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of 36%. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, upright piano imports totaled $X in 2022. Overall, imports saw a noticeable slump. The pace of growth appeared the most rapid in 2021 with an increase of 45% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Chile (X units) was the largest importer of acoustic new upright pianos, comprising 44% of total imports. It was distantly followed by Brazil (X units), Argentina (X units) and Ecuador (X units), together committing a 47% share of total imports. The following importers - Peru (X units) and Colombia (X units) - together made up 7% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Argentina (with a CAGR of +6.4%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Brazil ($X), Argentina ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 86% of total imports.

Among the main importing countries, Argentina, with a CAGR of +8.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in MERCOSUR stood at $X per unit in 2022, rising by 13% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 31%. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the import prices remained at a somewhat lower figure.

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 Brazil ($X per unit), while Chile ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform