Report Update Nov 1, 2024

Philippines - Keyboard Stringed Instruments - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Keyboard Stringed Instrument Market 2024

Keyboard Stringed Instrument Exports

Exports from the Philippines

In 2022, keyboard stringed instrument exports from the Philippines skyrocketed to X units, increasing by 45% on 2021. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 11,150% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, keyboard stringed instrument exports soared to $X in 2022. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 106,288% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X units) was the main destination for keyboard stringed instrument exports from the Philippines, accounting for a 66% share of total exports. Moreover, keyboard stringed instrument exports to the United States exceeded the volume sent to the second major destination, Germany (X units), fourfold. France (X units) ranked third in terms of total exports with a 4% share.

From 2015 to 2022, the average annual growth rate of volume to the United States stood at +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+100.0% per year) and France (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for keyboard stringed instruments exports from the Philippines, comprising 51% of total exports. The second position in the ranking was taken by Germany ($X), with a 25% share of total exports. It was followed by France, with a 5.8% share.

From 2015 to 2022, the average annual growth rate of value to the United States stood at +237.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+181.8% per year) and France (0.0% per year).

Export Prices by Country

In 2022, the average keyboard stringed instrument export price amounted to $X per unit, increasing by 42% against the previous year. Over the period under review, the export price saw strong growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 1,689% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+1,763.3%), while the prices for the other major destinations experienced more modest paces of growth.

Keyboard Stringed Instrument Imports

Imports into the Philippines

In 2022, the amount of keyboard stringed instruments imported into the Philippines declined markedly to X units, reducing by -44.6% on 2021. Overall, imports saw a mild decline. The growth pace was the most rapid in 2021 with an increase of 529%. As a result, imports reached the peak of X units, and then declined sharply in the following year.

In value terms, keyboard stringed instrument imports contracted remarkably to $X in 2022. In general, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2021 with an increase of 1,022% against the previous year. As a result, imports attained the peak of $X, and then fell markedly in the following year.

Imports by Country

Taiwan (Chinese) (X units), China (X units) and Japan (X units) were the main suppliers of keyboard stringed instrument imports to the Philippines, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +74.7%), while purchases for the other leaders experienced a decline.

In value terms, the largest keyboard stringed instrument suppliers to the Philippines were China ($X), Taiwan (Chinese) ($X) and Japan ($X), with a combined 99% share of total imports.

Taiwan (Chinese), with a CAGR of +61.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average keyboard stringed instrument import price amounted to $X per unit, with an increase of 21% against the previous year. Overall, the import price posted a significant increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by 101% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+30.8%), 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 keyboard stringed instruments in the world?

The countries with the highest volumes of in 2021 were South Korea, Indonesia and Japan, with a combined 78% share of global consumption.

What are the largest producers of keyboard stringed instruments in the world?

The countries with the highest volumes of in 2021 were South Korea, Indonesia and Japan, together comprising 87% of global production. The United Arab Emirates and the UK lagged somewhat behind, together comprising a further 4.1%.

What are the leading suppliers of keyboard stringed instruments to the Philippines?

In value terms, Taiwan Chinese) constituted the largest supplier of keyboard stringed instrument to the Philippines, comprising 79% of total imports. The second position in the ranking was occupied by China, with an 18% share of total imports. It was followed by South Korea, with a 1% share.

What is the average export price for keyboard stringed instruments in the Philippines?

In 2021, the average keyboard stringed instrument export price amounted to $36,717 per ton, shrinking by -2.9% against the previous year.

What is the average import price for keyboard stringed instruments in the Philippines?

In 2021, the average keyboard stringed instrument import price amounted to $91,697 per ton, surging by 16% against the previous year.

This report provides an in-depth analysis of the keyboard stringed instrument 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 32201150 - Keyboard stringed instruments (including harpsichords, s pinets and clavichords)

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