Middle East: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in the Middle East

In 2022, the Middle Eastern 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, continues to indicate prominent growth. Over the period under review, the market reached the peak level at $X in 2021, and then dropped slightly in the following year.

Electrical Musical Instrument Production in the Middle East

In value terms, electrical musical instrument production stood at $X in 2022 estimated in export price. Overall, production enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Electrical Musical Instrument Exports

Exports in the Middle East

In 2022, shipments abroad of electrical musical or keyboard instruments increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X units, which was near X% of total exports in 2022. It was distantly followed by Turkey (X units), mixing up 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. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, dropping by X% against the previous year. In general, the export price saw a pronounced slump. The pace of growth was the most pronounced in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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 the United Arab Emirates ($X per unit), while Turkey stood at $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 the Middle East

In 2022, electrical musical instrument imports in the Middle East soared to X units, increasing by X% on the year before. Total imports indicated a buoyant increase 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 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, electrical musical instrument imports rose modestly to $X in 2022. Total imports indicated a buoyant increase 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 growth pace was the most rapid in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The United Arab Emirates (X units) and Turkey (X units) dominates imports structure, together comprising X% of total imports. Iraq (X units) took the next position in the ranking, followed by Israel (X units). All these countries together held approx. X% share of total imports. Oman (X units) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading 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 largest electrical musical instrument importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), together comprising X% of total imports. Iraq and Oman lagged somewhat behind, together comprising a further X%.

Oman, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 the Middle East amounted to $X per unit, falling by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per unit in 2021, and then reduced notably 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

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