South-Eastern Asia: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in South-Eastern Asia

In 2022, the Southeast Asian electrical musical instrument market decreased by X% to $X, falling for the second year in a row after three years of growth. In general, consumption continues to indicate a perceptible slump. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Electrical Musical Instrument Production in South-Eastern Asia

In value terms, electrical musical instrument production rose modestly to $X in 2022 estimated in export price. Overall, production showed a noticeable expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Electrical Musical Instrument Exports

Exports in South-Eastern Asia

For the fifth year in a row, South-Eastern Asia recorded growth in overseas shipments of electrical musical or keyboard instruments, which increased by X% to X units in 2022. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, electrical musical instrument exports rose notably to $X in 2022. Over the period under review, exports recorded strong growth. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Indonesia represented the main exporting country with an export of around X units, which reached X% of total exports. It was distantly followed by Malaysia (X units), achieving a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%).

In value terms, the largest electrical musical instrument supplying countries in South-Eastern Asia were Indonesia ($X) and Malaysia ($X).

Among the main exporting countries, Malaysia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, reducing by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per unit, and then dropped in the following year.

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

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

Electrical Musical Instrument Imports

Imports in South-Eastern Asia

Electrical musical instrument imports fell slightly to X units in 2022, reducing by X% compared with the previous year's figure. Total imports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. The volume of import peaked at X units in 2021, and then reduced modestly in the following year.

In value terms, electrical musical instrument imports rose significantly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Malaysia was the key importing country with an import of around X units, which reached X% of total imports. Singapore (X units) ranks second in terms of the total imports with an X% share, followed by the Philippines (X%) and Thailand (X%). Indonesia (X units) and Vietnam (X units) held a minor share of total imports.

Malaysia was also the fastest-growing in terms of the electrical musical or keyboard instruments imports, with a CAGR of X% from 2012 to 2022. At the same time, Indonesia (X%), the Philippines (X%) and Singapore (X%) displayed positive paces of growth. By contrast, Vietnam (X%) and Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia, the Philippines and Singapore increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electrical musical instrument importing markets in South-Eastern Asia were Malaysia ($X), Singapore ($X) and Thailand ($X), together comprising X% of total imports. Indonesia, Vietnam and the Philippines lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, increasing by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the import price increased by X%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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