Report Update Nov 1, 2024

Peru - Pianos and Other Keyboard Stringed Musical Instruments - Market Analysis, Forecast, Size, Trends and Insights

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Peru: Piano Market 2024

Piano Market Size in Peru

In 2021, the Peruvian piano market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption showed a abrupt descent. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Piano Exports

Exports from Peru

In 2021, overseas shipments of pianos and other keyboard stringed musical instruments decreased by -51.4% to X kg, falling for the second year in a row after two years of growth. Over the period under review, exports, however, showed pronounced growth. The most prominent rate of growth was recorded in 2018 with an increase of 246% against the previous year. The exports peaked at X kg in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, piano exports dropped markedly to $X in 2021. Overall, exports, however, saw a measured increase. The pace of growth appeared the most rapid in 2016 when exports increased by 358% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Chile (X kg), Guatemala (X kg) and Canada (X kg) were the main destinations of piano exports from Peru, together comprising 89% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of +32.0%), while the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) remains the key foreign market for pianos and other keyboard stringed musical instruments exports from Peru, comprising 75% of total exports. The second position in the ranking was held by Canada ($X), with a 12% share of total exports. It was followed by Guatemala, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value to Chile amounted to +35.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+20.9% per year) and Guatemala (-6.1% per year).

Export Prices by Country

In 2021, the average piano export price amounted to $X per ton, shrinking by -6.8% against the previous year. In general, the export price recorded a pronounced descent. The most prominent rate of growth was recorded in 2016 an increase of 61% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Chile ($X per ton), while the average price for exports to Guatemala ($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 the United States (+12.2%), while the prices for the other major destinations experienced mixed trend patterns.

Piano Imports

Imports into Peru

For the third consecutive year, Peru recorded decline in overseas purchases of pianos and other keyboard stringed musical instruments, which decreased by -26.1% to X tons in 2021. In general, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 158% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, piano imports soared to $X in 2021. Overall, imports showed a deep setback. The most prominent rate of growth was recorded in 2015 when imports increased by 139% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Panama (X tons) were the main suppliers of piano imports to Peru, together comprising 72% of total imports. South Korea, Japan, Chile, Germany and Indonesia lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +15.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Panama ($X), China ($X) and Japan ($X) were the largest piano suppliers to Peru, with a combined 56% share of total imports. These countries were followed by the United States, Indonesia, South Korea, Chile and Germany, which together accounted for a further 14%.

In terms of the main suppliers, Germany, with a CAGR of +30.2%, recorded the highest growth rate of 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 piano import price stood at $X per ton in 2021, picking up by 166% against the previous year. Over the period under review, the import price showed buoyant growth. 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 Panama ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for pianos and other keyboard stringed musical instruments in the world?

China remains the largest piano consuming country worldwide, comprising approx. 30% of total volume. Moreover, piano consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was occupied by Pakistan, with a 5.7% share.

What are the largest producers of pianos and other keyboard stringed musical instruments in the world?

Japan constituted the country with the largest volume of piano production, accounting for 29% of total volume. Moreover, piano production in Japan exceeded the figures recorded by the second-largest producer, China, twofold. Indonesia ranked third in terms of total production with a 13% share.

What are the leading suppliers of pianos and other keyboard stringed musical instruments to Peru?

In value terms, China, Japan and the United States appeared to be the largest piano suppliers to Peru, with a combined 88% share of total imports. South Korea lagged somewhat behind, comprising a further 12%.

What are the leading importers of pianos and other keyboard stringed musical instruments from Peru?

In value terms, the Dominican Republic remains the key foreign market for piano exports from Peru, comprising 88% of total exports. The second position in the ranking was occupied by the United States $220), with a 12% share of total exports.

What is the average export price for pianos and other keyboard stringed musical instruments in Peru?

In 2020, the average piano export price amounted to $12,135 per ton, with an increase of 69% against the previous year.

What is the average import price for pianos and other keyboard stringed musical instruments in Peru?

In 2020, the average piano import price amounted to $5,745 per ton, falling by -13.9% against the previous year.

This report provides an in-depth analysis of the piano market in Peru. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32201110 - Acoustic new upright pianos (including automatic pianos)
Prodcom 32201130 - Acoustic grand pianos (including automatic pianos)
Prodcom 32201150 - Keyboard stringed instruments (including harpsichords, s pinets and clavichords)

Country coverage:

Peru

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Peru
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023