Norway: Grand Piano Market 2024

Grand Piano Market Size in Norway

The Norwegian grand piano market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, showed a perceptible contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Grand Piano Exports

Exports from Norway

In 2021, grand piano exports from Norway skyrocketed to X tons, jumping by 183% against the previous year. Over the period under review, exports continue to indicate a moderate increase. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, grand piano exports skyrocketed to $X in 2021. In general, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by 162%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X kg), Sweden (X kg) and the United States (X kg) were the main destinations of grand piano exports from Norway, with a combined 58% share of total exports. Germany, Denmark, Kenya, Austria, the Netherlands and Tanzania lagged somewhat behind, together comprising a further 9.7%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +29.9%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Germany ($X) and Poland ($X) appeared to be the largest markets for grand piano exported from Norway worldwide, with a combined 51% share of total exports. These countries were followed by the United States, Denmark, Austria, the Netherlands, Kenya and Tanzania, which together accounted for a further 6.9%.

In terms of the main countries of destination, Denmark, with a CAGR of +35.6%, recorded 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

In 2021, the average grand piano export price amounted to $X per ton, shrinking by -22.1% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grand piano export price increased by +84.9% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 137% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell remarkably in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Kenya ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+212.5%), while the prices for the other major destinations experienced more modest paces of growth.

Grand Piano Imports

Imports into Norway

In 2021, after two years of decline, there was significant growth in supplies from abroad of acoustic grand pianos, when their volume increased by 16% to X tons. In general, imports, however, continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of 19%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, grand piano imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a pronounced curtailment. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Japan (X tons) and Indonesia (X tons) were the main suppliers of grand piano imports to Norway, together accounting for 46% of total imports. These countries were followed by the Czech Republic, the Netherlands, Poland and Austria, which together accounted for a further 7.7%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +8.3%), while imports for the other leaders experienced a decline.

In value terms, Germany ($X) constituted the largest supplier of acoustic grand pianos to Norway, comprising 36% of total imports. The second position in the ranking was taken by Japan ($X), with a 7.5% share of total imports. It was followed by the Netherlands, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to -7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-9.3% per year) and the Netherlands (+24.9% per year).

Import Prices by Country

In 2021, the average grand piano import price amounted to $X per ton, picking up by 42% against the previous year. Overall, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grand piano import price increased by +93.3% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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