SADC: Keyboard Stringed Instrument Market 2024

Keyboard Stringed Instrument Market Size in SADC

The SADC keyboard stringed instrument market dropped to $X in 2022, remaining stable against the previous year. In general, consumption saw a abrupt setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Keyboard Stringed Instrument Production in SADC

In value terms, keyboard stringed instrument production surged to $X in 2022 estimated in export price. In general, production continues to indicate slight growth. The most prominent rate of growth was recorded in 2020 with an increase of 299%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Keyboard Stringed Instrument Exports

Exports in SADC

In 2022, overseas shipments of keyboard stringed instruments were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of 41%. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, keyboard stringed instrument exports skyrocketed to $X in 2022. In general, exports, however, showed a noticeable descent. The growth pace was the most rapid in 2017 with an increase of 37%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from South Africa (X units), Mozambique (X units) and Angola (X units), together amounting to 71% of total export. Tanzania (X units) ranks next in terms of the total exports with an 11% share, followed by Zambia (8.8%). Namibia (X units) and Mauritius (X units) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Angola (with a CAGR of +45.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) remains the largest keyboard stringed instrument supplier in SADC, comprising 69% of total exports. The second position in the ranking was held by Mozambique ($X), with a 9.6% share of total exports. It was followed by Zambia, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa was relatively modest. In the other countries, the average annual rates were as follows: Mozambique (+52.8% per year) and Zambia (+47.0% per year).

Export Prices by Country

In 2022, the export price in SADC amounted to $X per unit, remaining relatively unchanged against the previous year. In general, the export price continues to indicate a perceptible expansion. The growth pace was the most rapid in 2017 an increase of 139%. The level of export peaked at $X per unit in 2018; however, from 2019 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 South Africa ($X per unit), while Mauritius ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+35.7%), while the other leaders experienced more modest paces of growth.

Keyboard Stringed Instrument Imports

Imports in SADC

Keyboard stringed instrument imports contracted modestly to X units in 2022, remaining stable against the previous year's figure. Overall, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2017 with an increase of 172%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, keyboard stringed instrument imports soared to $X in 2022. In general, imports saw a noticeable setback. The growth pace was the most rapid in 2021 when imports increased by 36% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mozambique (X units) and South Africa (X units) represented the main importers of keyboard stringed instruments in SADC, together comprising 77% of total imports. It was distantly followed by Mauritius (X units), making up a 15% share of total imports. The following importers - Tanzania (X units) and Angola (X units) - together made up 4.5% of total imports.

From 2012 to 2022, the biggest increases were recorded for Mauritius (with a CAGR of +24.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported keyboard stringed instruments in SADC, comprising 64% of total imports. The second position in the ranking was taken by Mauritius ($X), with a 13% share of total imports. It was followed by Angola, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to -7.1%. In the other countries, the average annual rates were as follows: Mauritius (+25.4% per year) and Angola (-8.0% per year).

Import Prices by Country

The import price in SADC stood at $X per unit in 2022, with an increase of 18% against the previous year. In general, the import price enjoyed prominent growth. The growth pace was the most rapid in 2018 when the import price increased by 151%. Over the period under review, import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 South Africa (+24.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform