Report Update Nov 1, 2024

Philippines - Acoustic Grand Pianos - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Grand Piano Market 2024

Grand Piano Market Size in the Philippines

In 2021, after four years of growth, there was significant decline in the Philippine grand piano market, when its value decreased by -47% to $X. Over the period under review, consumption, however, posted a strong expansion. Over the period under review, the market hit record highs at $X in 2020, and then dropped significantly in the following year.

Grand Piano Exports

Exports from the Philippines

In 2021, after three years of decline, there was decline in shipments abroad of acoustic grand pianos, when their volume decreased by 0% to X kg. Over the period under review, exports saw a significant decline. The smallest decline of -38.5% was in 2013. Over the period under review, the exports reached the peak figure at X kg in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, grand piano exports totaled $X in 2021. In general, exports showed a precipitous contraction. The smallest decline of -41.3% was in 2013. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for grand piano exports from the Philippines, with a 89% share of total exports. Moreover, grand piano exports to the United States exceeded the volume sent to the second major destination, Northern Mariana Islands (X kg), ninefold.

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

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

Export Prices by Country

The average grand piano export price stood at $X per ton in 2021, approximately equating the previous year. Overall, the export price showed a buoyant increase. The most prominent rate of growth was recorded in 2018 an increase of 0.4% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Northern Mariana Islands ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Northern Mariana Islands (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Grand Piano Imports

Imports into the Philippines

Grand piano imports into the Philippines fell remarkably to X tons in 2021, reducing by -50% compared with 2020. Over the period under review, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 89%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, grand piano imports reduced notably to $X in 2021. Overall, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2019 when imports increased by 105% against the previous year. Imports peaked at $X in 2020, and then plummeted in the following year.

Imports by Country

Indonesia (X tons), Japan (X tons) and Singapore (X tons) were the main suppliers of grand piano imports to the Philippines, together accounting for 80% of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +20.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Japan ($X) and Indonesia ($X) were the largest grand piano suppliers to the Philippines, with a combined 83% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of +26.2%, 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 more modest paces of growth.

Import Prices by Country

The average grand piano import price stood at $X per ton in 2021, picking up by 6.9% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.1% 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 +91.5% against 2016 indices. The pace of growth appeared the most rapid in 2017 an increase of 28% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+18.6%), 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 acoustic grand pianos in the world?

Japan constituted the country with the largest volume of grand piano consumption, accounting for 27% of total volume. Moreover, grand piano consumption in Japan exceeded the figures recorded by the second-largest consumer, Indonesia, twofold. The United States ranked third in terms of total consumption with an 11% share.

What are the largest producers of acoustic grand pianos in the world?

Japan remains the largest grand piano producing country worldwide, accounting for 62% of total volume. Moreover, grand piano production in Japan exceeded the figures recorded by the second-largest producer, Indonesia, twofold. The third position in this ranking was occupied by Germany, with a 7.3% share.

What are the leading suppliers of acoustic grand pianos to the Philippines?

In value terms, the largest grand piano suppliers to the Philippines were Japan, Singapore and Malaysia, with a combined 90% share of total imports.

What is the average export price for acoustic grand pianos in the Philippines?

The average grand piano export price stood at $14,226 per ton in 2018, surging by 3.7% against the previous year.

What is the average import price for acoustic grand pianos in the Philippines?

The average grand piano import price stood at $40,678 per ton in 2020, surging by 54% against the previous year.

This report provides an in-depth analysis of the grand piano market in the Philippines. 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 32201130 - Acoustic grand pianos (including automatic pianos)

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
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