Scandinavia: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Scandinavia

For the third consecutive year, the Scandinavia percussion musical instrument market recorded growth in sales value, which increased by 48% to $X in 2022. In general, consumption, however, saw a perceptible decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Percussion Musical Instrument Production in Scandinavia

In value terms, percussion musical instrument production shrank rapidly to $X in 2022 estimated in export price. Over the period under review, production showed a precipitous decrease. The growth pace was the most rapid in 2021 with an increase of 3,913%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Percussion Musical Instrument Exports

Exports in Scandinavia

Percussion musical instrument exports dropped rapidly to X units in 2022, with a decrease of -37.6% against 2021 figures. In general, exports showed a pronounced contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 41%. Over the period under review, the exports reached the maximum at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, percussion musical instrument exports contracted to $X in 2022. The total export value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 35% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

Sweden dominates exports structure, resulting at X units, which was near 94% of total exports in 2022. It was distantly followed by Finland (X units), mixing up a 4.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to percussion musical instrument exports from Sweden stood at -5.3%. At the same time, Finland (+7.9%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +7.9% from 2012-2022. Finland (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -4% from 2012 to 2022, respectively.

In value terms, Sweden ($X) remains the largest percussion musical instrument supplier in Scandinavia, comprising 93% of total exports. The second position in the ranking was held by Finland ($X), with a 4.9% share of total exports.

In Sweden, percussion musical instrument exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per unit, jumping by 46% against the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while Finland amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+7.4%).

Percussion Musical Instrument Imports

Imports in Scandinavia

For the third consecutive year, Scandinavia recorded growth in overseas purchases of percussion musical instruments, which increased by 44% to X units in 2022. Over the period under review, imports saw a pronounced expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, percussion musical instrument imports amounted to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 16%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Sweden (X units) represented the largest importer of percussion musical instruments, mixing up 63% of total imports. Finland (X units) ranks second in terms of the total imports with a 19% share, followed by Norway (18%).

Sweden was also the fastest-growing in terms of the percussion musical instruments imports, with a CAGR of +10.5% from 2012 to 2022. Finland experienced a relatively flat trend pattern. Norway (-2.9%) illustrated a downward trend over the same period. Sweden (+27 p.p.) significantly strengthened its position in terms of the total imports, while Finland and Norway saw its share reduced by -8.2% and -19% from 2012 to 2022, respectively.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) constituted the countries with the highest levels of imports in 2022.

In terms of the main importing countries, Sweden, with a CAGR of +1.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, waning by -23.8% against the previous year. Over the period under review, the import price showed a abrupt decrease. The pace of growth appeared the most rapid in 2017 an increase of 5.2%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform