South-Eastern Asia: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in South-Eastern Asia

In 2022, after two years of growth, there was decline in the Southeast Asian percussion musical instrument market, when its value decreased by -1.5% to $X. Over the period under review, consumption saw a deep setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Percussion Musical Instrument Production in South-Eastern Asia

In value terms, percussion musical instrument production expanded modestly to $X in 2022 estimated in export price. In general, production, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Percussion Musical Instrument Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of percussion musical instruments increased by 8% to X units, rising for the second consecutive year after four years of decline. Over the period under review, exports, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2016 with an increase of 12%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, percussion musical instrument exports expanded remarkably to $X in 2022. In general, exports, however, recorded a noticeable decrease. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand dominates exports structure, recording X units, which was approx. 89% of total exports in 2022. It was distantly followed by Indonesia (X units), making up a 9.8% share of total exports.

Thailand was also the fastest-growing in terms of the percussion musical instruments exports, with a CAGR of -1.6% from 2012 to 2022. Indonesia (-5.9%) illustrated a downward trend over the same period. Thailand (+9.2 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia saw its share reduced by -4% from 2012 to 2022, respectively.

In value terms, Thailand ($X) remains the largest percussion musical instrument supplier in South-Eastern Asia, comprising 66% of total exports. The second position in the ranking was held by Indonesia ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Thailand stood at -2.2%.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, with an increase of 3.8% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 12% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Thailand totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.2%).

Percussion Musical Instrument Imports

Imports in South-Eastern Asia

In 2022, approx. X units of percussion musical instruments were imported in South-Eastern Asia; with a decrease of -24.7% on the year before. In general, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 127% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, percussion musical instrument imports declined to $X in 2022. Overall, imports saw a pronounced shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 58%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X units) represented the main importer of percussion musical instruments, mixing up 48% of total imports. Thailand (X units) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (12%), the Philippines (12%) and Indonesia (6.2%). Vietnam (X units) held a relatively small share of total imports.

Malaysia was also the fastest-growing in terms of the percussion musical instruments imports, with a CAGR of +3.3% from 2012 to 2022. At the same time, Vietnam (+1.7%) displayed positive paces of growth. By contrast, the Philippines (-1.4%), Thailand (-8.3%), Indonesia (-9.8%) and Singapore (-16.2%) illustrated a downward trend over the same period. While the share of Malaysia (+29 p.p.), the Philippines (+4.3 p.p.) and Vietnam (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-3.3 p.p.), Thailand (-5.5 p.p.) and Singapore (-26.7 p.p.) displayed negative dynamics.

In value terms, Malaysia ($X), Thailand ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2022, together accounting for 66% of total imports. Singapore, the Philippines and Vietnam lagged somewhat behind, together comprising a further 33%.

Among the main importing countries, Vietnam, with a CAGR of +1.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, increasing by 17% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, percussion musical instrument import price decreased by -21.5% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the import price increased by 22% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2019; however, from 2020 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 Indonesia ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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