SADC: Upright Piano Market 2024

Upright Piano Market Size in SADC

The SADC upright piano market was estimated at $X in 2022, increasing by 2.7% against the previous year. The total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.7% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Upright Piano Production in SADC

In value terms, upright piano production reached $X in 2022 estimated in export price. The total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.7% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 61%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Upright Piano Exports

Exports in SADC

In 2022, approx. X units of acoustic new upright pianos were exported in SADC; declining by -35.8% compared with 2021 figures. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2016 when exports increased by 176%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, upright piano exports reduced dramatically to $X in 2022. In general, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 133% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa was the key exporter of acoustic new upright pianos in SADC, with the volume of exports accounting for X units, which was approx. 38% of total exports in 2022. Angola (X units) took the second position in the ranking, followed by Malawi (X units), Namibia (X units), Mozambique (X units), Tanzania (X units) and Zambia (X units). All these countries together held approx. 50% share of total exports. The following exporters - Botswana (X units), Madagascar (X units) and Zimbabwe (X units) - each recorded an 8.8% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to upright piano exports from South Africa stood at -14.3%. At the same time, Tanzania (+8.0%), Zambia (+7.2%) and Angola (+2.9%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of +8.0% from 2012-2022. Botswana and Madagascar experienced a relatively flat trend pattern. By contrast, Malawi (-4.0%), Namibia (-5.0%), Zimbabwe (-6.7%) and Mozambique (-20.9%) illustrated a downward trend over the same period. Angola (+8.2 p.p.), Tanzania (+5.9 p.p.), Mozambique (+5.9 p.p.), Zambia (+4.7 p.p.), Malawi (+4.5 p.p.), Namibia (+2.8 p.p.), Botswana (+1.7 p.p.) and Madagascar (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by -35.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest upright piano supplier in SADC, comprising 47% of total exports. The second position in the ranking was taken by Namibia ($X), with a 17% share of total exports. It was followed by Malawi, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at -21.6%. In the other countries, the average annual rates were as follows: Namibia (-3.3% per year) and Malawi (+4.9% per year).

Export Prices by Country

The export price in SADC stood at $X per unit in 2022, growing by 23% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 when the export price increased by 45%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Namibia ($X per unit), while Botswana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zambia (+28.1%), while the other leaders experienced more modest paces of growth.

Upright Piano Imports

Imports in SADC

In 2022, overseas purchases of acoustic new upright pianos decreased by -9.8% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports showed a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 85% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, upright piano imports shrank to $X in 2022. In general, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 77%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Africa (X units) and Mozambique (X units) represented the major importers of acoustic new upright pianos in SADC, together committing 57% of total imports. Angola (X units) took the next position in the ranking, followed by Namibia (X units), Tanzania (X units) and Botswana (X units). All these countries together took approx. 26% share of total imports. Madagascar (X units) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mozambique (with a CAGR of +16.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported acoustic new upright pianos in SADC, comprising 45% of total imports. The second position in the ranking was taken by Angola ($X), with a 22% share of total imports. It was followed by Mozambique, with a 6.9% share.

In South Africa, upright piano imports shrank by an average annual rate of -13.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Angola (-1.6% per year) and Mozambique (+13.7% per year).

Import Prices by Country

The import price in SADC stood at $X per unit in 2022, declining by -3% against the previous year. Overall, the import price recorded a perceptible descent. The most prominent rate of growth was recorded in 2018 when the import price increased by 56%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Angola ($X per unit), while Mozambique ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (+10.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform