Report Update Nov 1, 2024

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

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Philippines: Piano Market 2024

Piano Market Size in the Philippines

The Philippine piano market totaled $X in 2021, picking up by 2.5% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 2.8%. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the near future.

Piano Production in the Philippines

In value terms, piano production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 20%. Piano production peaked at $X in 2020, and then contracted slightly in the following year.

Piano Exports

Exports from the Philippines

In 2021, approx. X tons of pianos and other keyboard stringed musical instruments were exported from the Philippines; increasing by 15,342% on 2020 figures. Over the period under review, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, piano exports soared to $X in 2021. Overall, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mauritius (X tons) and the United States (X tons) were the main destinations of piano exports from the Philippines.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +191.2%).

In value terms, the United States ($X) remains the key foreign market for pianos and other keyboard stringed musical instruments exports from the Philippines, comprising 78% of total exports. The second position in the ranking was held by Mauritius ($X), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +808.9%.

Export Prices by Country

The average piano export price stood at $X per ton in 2021, picking up by 383% against the previous year. Over the period under review, the export price saw a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+212.3%).

Piano Imports

Imports into the Philippines

Piano imports into the Philippines surged to X tons in 2021, picking up by 97% compared with 2020 figures. Over the period under review, imports, however, continue to indicate a deep downturn. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, piano imports soared to $X in 2021. Overall, imports recorded a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest piano supplier to the Philippines, accounting for a 44% share of total imports. Moreover, piano imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. Japan (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+7.6% per year) and Japan (-20.0% per year).

In value terms, the largest piano suppliers to the Philippines were China ($X), Japan ($X) and Singapore ($X), together comprising 34% of total imports.

Among the main suppliers, Singapore, with a CAGR of +13.7%, recorded the highest growth rate of 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 piano import price stood at $X per ton in 2021, rising by 4.4% against the previous year. Over the period under review, the import price continues to indicate significant growth. The most prominent rate of growth was recorded in 2018 an increase of 129% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+42.0%), 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?

The country with the largest volume of piano consumption was China, accounting for 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. The third position in this ranking was occupied by Indonesia, with a 13% share.

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

In value terms, Japan, Singapore and Malaysia were the largest piano suppliers to the Philippines, together comprising 79% of total imports.

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

In value terms, Israel, Thailand and China $124) were the largest markets for piano exported from the Philippines worldwide.

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

In 2020, the average piano export price amounted to $9,996 per ton, which is down by -41.4% against the previous year.

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

The average piano import price stood at $9,822 per ton in 2020, dropping by -30.8% against the previous year.

This report provides an in-depth analysis of the 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 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:

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