South Africa: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in South Africa

The South African electrical musical instrument market rose notably to $X in 2022, growing by X% against the previous year. Over the period under review, consumption enjoyed a noticeable increase. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Electrical Musical Instrument Production in South Africa

In value terms, electrical musical instrument production rose to $X in 2022 estimated in export price. Over the period under review, production saw notable growth. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Electrical musical instrument production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Electrical Musical Instrument Exports

Exports from South Africa

In 2022, overseas shipments of electrical musical or keyboard instruments were finally on the rise to reach X units after two years of decline. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, electrical musical instrument exports surged to $X in 2022. In general, exports showed a modest expansion. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Zimbabwe (X units), Namibia (X units) and Botswana (X units) were the main destinations of electrical musical instrument exports from South Africa, together accounting for X% of total exports. Brazil, Malawi, Swaziland, the United States and Zambia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical musical instrument exported from South Africa were Brazil ($X), Zimbabwe ($X) and the United States ($X), together accounting for X% of total exports.

Brazil, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electrical musical instrument export price stood at $X per unit in 2022, surging by X% against the previous year. In general, the export price recorded resilient growth. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Botswana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Musical Instrument Imports

Imports into South Africa

In 2022, the amount of electrical musical or keyboard instruments imported into South Africa soared to X units, jumping by X% on 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, electrical musical instrument imports declined to $X in 2022. In general, imports, however, continue to indicate a pronounced contraction. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical musical instrument to South Africa, accounting for a X% share of total imports. Moreover, electrical musical instrument imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. Indonesia (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Indonesia (X% per year).

In value terms, China ($X) constituted the largest supplier of electrical musical or keyboard instruments to South Africa, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by Malaysia, with an X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the average electrical musical instrument import price amounted to $X per unit, waning by X% against the previous year. Over the period under review, the import price continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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