Norway: Upright Piano Market 2024

Upright Piano Market Size in Norway

The Norwegian upright piano market fell to $X in 2022, which is down by -5.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a deep setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Upright Piano Exports

Exports from Norway

Upright piano exports from Norway soared to X units in 2022, rising by 94% on 2021. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 200% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, upright piano exports soared to $X in 2022. Overall, exports continue to indicate buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for upright piano exports from Norway, accounting for a 55% share of total exports. Moreover, upright piano exports to the United States exceeded the volume sent to the second major destination, Poland (X units), fourfold. Uganda (X units) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +51.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+24.6% per year) and Uganda (0.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for acoustic new upright pianos exports from Norway, comprising 52% of total exports. The second position in the ranking was held by the Czech Republic ($X), with an 18% share of total exports. It was followed by Poland, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +59.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+3.0% per year) and Poland (+28.7% per year).

Export Prices by Country

In 2022, the average upright piano export price amounted to $X per unit, picking up by 301% against the previous year. Overall, the export price, however, saw a deep contraction. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Uganda ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+24.7%), while the prices for the other major destinations experienced more modest paces of growth.

Upright Piano Imports

Imports into Norway

In 2022, approx. X units of acoustic new upright pianos were imported into Norway; growing by 2.7% compared with 2021 figures. Overall, imports, however, showed a perceptible slump. The growth pace was the most rapid in 2020 when imports increased by 62% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, upright piano imports dropped modestly to $X in 2022. In general, imports, however, continue to indicate a deep reduction. The pace of growth was the most pronounced in 2017 when imports increased by 51% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X units), Indonesia (X units) and China (X units) were the main suppliers of upright piano imports to Norway, with a combined 61% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +33.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Japan ($X) and the Czech Republic ($X) were the largest upright piano suppliers to Norway, together accounting for 73% of total imports. Indonesia, China, the United States, Denmark and Mexico lagged somewhat behind, together comprising a further 22%.

Among the main suppliers, the United States, with a CAGR of +2.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average upright piano import price stood at $X per unit in 2022, which is down by -4.2% against the previous year. Over the period under review, the import price recorded a deep reduction. The growth pace was the most rapid in 2021 an increase of 67%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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