Middle East: Upright Piano Market 2024

Upright Piano Market Size in the Middle East

The Middle Eastern upright piano market declined to $X in 2022, with a decrease of -9.7% against the previous year. Overall, consumption showed a perceptible reduction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Upright Piano Production in the Middle East

In value terms, upright piano production declined modestly to $X in 2022 estimated in export price. The total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.9% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 65%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Upright Piano Exports

Exports in the Middle East

Upright piano exports totaled X units in 2022, increasing by 4.4% on the previous year's figure. In general, exports, however, saw a pronounced decrease. The pace of growth appeared the most rapid in 2017 with an increase of 197% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, upright piano exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a pronounced shrinkage. The growth pace was the most rapid in 2017 when exports increased by 350%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the United Arab Emirates (X units) was the main exporter of acoustic new upright pianos, creating 72% of total exports. Turkey (X units) ranks second in terms of the total exports with a 10% share, followed by Oman (6.5%). Lebanon (X units), Iran (X units) and Kuwait (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to upright piano exports from the United Arab Emirates stood at +4.8%. At the same time, Iran (+13.3%), Turkey (+4.6%) and Lebanon (+1.2%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +13.3% from 2012-2022. Kuwait experienced a relatively flat trend pattern. By contrast, Oman (-22.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Turkey, Iran and Lebanon increased by +40, +5.6, +2.6 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest upright piano supplier in the Middle East, comprising 64% of total exports. The second position in the ranking was taken by Oman ($X), with a 20% share of total exports. It was followed by Turkey, with a 10% share.

In the United Arab Emirates, upright piano exports expanded at an average annual rate of +2.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (-13.9% per year) and Turkey (-0.7% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, surging by 22% against the previous year. In general, the export price, however, saw a mild setback. The growth pace was the most rapid in 2017 an increase of 52%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+10.3%), while the other leaders experienced more modest paces of growth.

Upright Piano Imports

Imports in the Middle East

In 2022, upright piano imports in the Middle East contracted to X units, with a decrease of -11.6% compared with the previous year's figure. In general, imports showed a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of 29%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, upright piano imports dropped to $X in 2022. Over the period under review, imports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the key importer of acoustic new upright pianos in the Middle East, with the volume of imports finishing at X units, which was near 47% of total imports in 2022. Israel (X units) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (14%) and Iraq (7.4%). Iran (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +25.4%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest upright piano importing markets in the Middle East were the United Arab Emirates ($X), Israel ($X) and Turkey ($X), together comprising 85% of total imports. Iraq and Iran lagged somewhat behind, together comprising a further 11%.

Among the main importing countries, Iraq, with a CAGR of +33.0%, saw 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

The import price in the Middle East stood at $X per unit in 2022, dropping by -3.4% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, upright piano import price increased by +53.4% against 2014 indices. The pace of growth appeared the most rapid in 2021 an increase of 18%. As a result, import price reached the peak level of $X per unit, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iraq ($X per unit), while Iran ($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 (+8.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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