SADC: Piano Market 2024

Piano Market Size in SADC

The SADC piano market was estimated at $X in 2021, remaining relatively unchanged against the previous year. Overall, consumption, however, showed a perceptible reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Piano Production in SADC

In value terms, piano production dropped slightly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a slight descent. The growth pace was the most rapid in 2018 with an increase of 38%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Piano Exports

Exports in SADC

In 2021, after two years of decline, there was significant growth in overseas shipments of pianos and other keyboard stringed musical instruments, when their volume increased by 26% to X tons. Overall, exports, however, faced a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of 13,207%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, piano exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 1,239%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

South Africa was the key exporting country with an export of around X tons, which recorded 44% of total exports. It was distantly followed by Tanzania (X tons), Zambia (X tons), Namibia (X tons), Malawi (X tons), Angola (X tons) and Zimbabwe (X tons), together mixing up a 51% share of total exports.

Exports from South Africa decreased at an average annual rate of -17.6% from 2012 to 2021. At the same time, Zambia (+33.6%), Angola (+20.0%) and Tanzania (+4.4%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in SADC, with a CAGR of +33.6% from 2012-2021. By contrast, Malawi (-6.0%), Zimbabwe (-6.5%) and Namibia (-18.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Tanzania, Zambia, Angola, Malawi and Zimbabwe increased by +15, +8.1, +5.4, +2.8 and +2.4 percentage points, respectively.

In value terms, South Africa ($X) remains the largest piano supplier in SADC, comprising 87% of total exports. The second position in the ranking was held by Namibia ($X), with a 2.7% share of total exports. It was followed by Zambia, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value in South Africa totaled -1.9%. In the other countries, the average annual rates were as follows: Namibia (-22.1% per year) and Zambia (+47.0% per year).

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, increasing by 50% against the previous year. Overall, the export price recorded a remarkable increase. The growth pace was the most rapid in 2019 when the export price increased by 1,192% against the previous year. The level of export peaked 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 South Africa ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+19.1%), while the other leaders experienced more modest paces of growth.

Piano Imports

Imports in SADC

In 2021, supplies from abroad of pianos and other keyboard stringed musical instruments was finally on the rise to reach X tons after three years of decline. In general, imports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 149% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, piano imports soared to $X in 2021. Overall, imports, however, saw a drastic downturn. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Africa was the main importer of pianos and other keyboard stringed musical instruments in SADC, with the volume of imports recording X tons, which was near 59% of total imports in 2021. Angola (X tons) took the second position in the ranking, followed by Mauritius (X tons) and Madagascar (X tons). All these countries together held approx. 30% share of total imports. The following importers - Namibia (X tons) and Tanzania (X tons) - together made up 5.1% of total imports.

Imports into South Africa decreased at an average annual rate of -21.8% from 2012 to 2021. At the same time, Mauritius (+20.6%), Madagascar (+17.6%) and Namibia (+1.2%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing importer imported in SADC, with a CAGR of +20.6% from 2012-2021. By contrast, Tanzania (-1.7%) and Angola (-2.2%) illustrated a downward trend over the same period. Angola (+11 p.p.), Mauritius (+11 p.p.), Madagascar (+5.7 p.p.), Namibia (+2.6 p.p.) and Tanzania (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while South Africa saw its share reduced by -31.8% from 2012 to 2021, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported pianos and other keyboard stringed musical instruments in SADC, comprising 69% of total imports. The second position in the ranking was taken by Angola ($X), with an 8.1% share of total imports. It was followed by Mauritius, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa amounted to -6.6%. The remaining importing countries recorded the following average annual rates of imports growth: Angola (-0.0% per year) and Mauritius (+9.7% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, picking up by 24% against the previous year. In general, the import price saw strong growth. The most prominent rate of growth was recorded in 2018 when the import price increased by 171%. The level of import peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Namibia ($X per ton), while Madagascar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+19.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform