SADC: Grand Piano Market 2024

Grand Piano Market Size in SADC

The SADC grand piano market soared to $X in 2021, with an increase of 41% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Grand Piano Production in SADC

In value terms, grand piano production skyrocketed to $X in 2021 estimated in export price. Overall, production saw a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 659%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Grand Piano Exports

Exports in SADC

In 2021, overseas shipments of acoustic grand pianos were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, grand piano exports surged to $X in 2021. Overall, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa dominates exports structure, finishing at X tons, which was near 95% of total exports in 2021. Zimbabwe (X kg) followed a long way behind the leaders.

South Africa was also the fastest-growing in terms of the acoustic grand pianos exports, with a CAGR of +1.3% from 2012 to 2021. Zimbabwe (-2.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Africa increased by +7.3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest grand piano supplier in SADC, comprising 99% of total exports. The second position in the ranking was held by Zimbabwe ($X), with a 0.8% share of total exports.

In South Africa, grand piano exports increased at an average annual rate of +7.2% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, growing by 30% against the previous year. In general, the export price posted a prominent increase. The most prominent rate of growth was recorded in 2019 when the export price increased by 158%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Africa ($X per ton), while Zimbabwe totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+5.8%).

Grand Piano Imports

Imports in SADC

In 2021, the amount of acoustic grand pianos imported in SADC surged to X tons, increasing by 52% against 2020. In general, imports, however, continue to indicate a perceptible descent. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, grand piano imports surged to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

South Africa prevails in imports structure, reaching X tons, which was approx. 71% of total imports in 2021. It was distantly followed by Seychelles (X tons), Tanzania (X tons) and Mauritius (X tons), together creating a 17% share of total imports. Angola (X kg), Namibia (X kg) and Malawi (X kg) held a relatively small share of total imports.

Imports into South Africa decreased at an average annual rate of -5.6% from 2012 to 2021. At the same time, Malawi (+46.9%), Tanzania (+30.0%), Seychelles (+23.0%) and Angola (+9.6%) displayed positive paces of growth. Moreover, Malawi emerged as the fastest-growing importer imported in SADC, with a CAGR of +46.9% from 2012-2021. Mauritius experienced a relatively flat trend pattern. By contrast, Namibia (-1.0%) illustrated a downward trend over the same period. Tanzania (+5.4 p.p.), Seychelles (+5.3 p.p.), Angola (+2.8 p.p.) and Malawi (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while South Africa saw its share reduced by -10.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported acoustic grand pianos in SADC, comprising 76% of total imports. The second position in the ranking was held by Seychelles ($X), with a 7.9% share of total imports. It was followed by Namibia, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value in South Africa was relatively modest. In the other countries, the average annual rates were as follows: Seychelles (+32.1% per year) and Namibia (-1.8% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, picking up by 8.4% against the previous year. Import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 23% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Namibia ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Seychelles (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform