Northern America: Piano Market 2024

Piano Market Size in Northern America

The North American piano market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Piano Production in Northern America

In value terms, piano production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 15% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Piano Exports

Exports in Northern America

In 2021, shipments abroad of pianos and other keyboard stringed musical instruments decreased by -4% to X tons, falling for the third consecutive year after two years of growth. In general, exports recorded a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of 9.3% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, piano exports rose markedly to $X in 2021. The total export value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 13% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The United States dominates exports structure, accounting for X tons, which was approx. 97% of total exports in 2021. Canada (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to piano exports from the United States stood at -7.3%. Canada (-3.6%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest piano supplier in Northern America, comprising 99% of total exports. The second position in the ranking was taken by Canada ($X), with a 1.2% share of total exports.

In the United States, piano exports expanded at an average annual rate of +1.6% over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, rising by 17% against the previous year. Overall, the export price posted a strong increase. The pace of growth was the most pronounced in 2020 an increase of 57% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.7%).

Piano Imports

Imports in Northern America

In 2021, the amount of pianos and other keyboard stringed musical instruments imported in Northern America soared to X tons, growing by 41% on the year before. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, piano imports surged to $X in 2021. In general, imports showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) represented the main importer of pianos and other keyboard stringed musical instruments, creating 81% of total imports. It was distantly followed by Canada (X tons), committing a 19% share of total imports.

The United States was also the fastest-growing in terms of the pianos and other keyboard stringed musical instruments imports, with a CAGR of +2.0% from 2012 to 2021. Canada experienced a relatively flat trend pattern. The United States (+4 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -4% from 2012 to 2021, respectively.

In value terms, the United States ($X) constitutes the largest market for imported pianos and other keyboard stringed musical instruments in Northern America, comprising 74% of total imports. The second position in the ranking was taken by Canada ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United States was relatively modest.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, shrinking by -6.3% against the previous year. In general, the import price continues to indicate a mild decline. The growth pace was the most rapid in 2015 an increase of 9.2%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.4%).

Source: IndexBox Platform

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