Report Update Nov 1, 2024

Sri Lanka - Acoustic Grand Pianos - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Grand Piano Market 2024

Grand Piano Market Size in Sri Lanka

In 2021, after three years of decline, there was significant growth in the Sri Lankan grand piano market, when its value increased by 165% to $X. In general, consumption enjoyed a buoyant expansion. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Grand Piano Exports

Exports from Sri Lanka

For the sixth year in a row, Sri Lanka recorded decline in shipments abroad of acoustic grand pianos, which decreased by -50% to X kg in 2021. Over the period under review, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 when exports increased by 300% against the previous year. As a result, the exports attained the peak of X kg. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, grand piano exports declined remarkably to $X in 2021. In general, exports saw a abrupt decline. The growth pace was the most rapid in 2015 when exports increased by 224% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Australia (X kg) was the main destination for grand piano exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia amounted to +8.0%.

In value terms, Australia ($X) also remains the key foreign market for acoustic grand pianos exports from Sri Lanka.

From 2012 to 2021, the average annual growth rate of value to Australia totaled +10.7%.

Export Prices by Country

The average grand piano export price stood at $X per ton in 2021, jumping by 16% against the previous year. In general, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grand piano export price increased by +107.6% against 2015 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by 52% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2021, the rate of growth in terms of prices for Australia amounted to +2.9% per year.

Grand Piano Imports

Imports into Sri Lanka

In 2021, purchases abroad of acoustic grand pianos was finally on the rise to reach X tons after six years of decline. Overall, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 379%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, grand piano imports soared to $X in 2021. In general, imports continue to indicate prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 349% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Indonesia (X kg), Malaysia (X kg) and China (X kg) were the main suppliers of grand piano imports to Sri Lanka, together comprising 46% of total imports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +11.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and China ($X) appeared to be the largest grand piano suppliers to Sri Lanka, with a combined 65% share of total imports.

Indonesia, with a CAGR of +21.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average grand piano import price stood at $X per ton in 2021, with an increase of 2.1% against the previous year. In general, the import price recorded a prominent increase. The pace of growth was the most pronounced in 2020 an increase of 55%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Singapore ($X per ton) and Malaysia ($X per ton), while the price for China ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+48.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for acoustic grand pianos in the world?

The country with the largest volume of grand piano consumption was Japan, comprising approx. 27% of total volume. Moreover, grand piano consumption in Japan exceeded the figures recorded by the second-largest consumer, Indonesia, twofold. The third position in this ranking was occupied by the United States, with an 11% share.

What are the largest producers of acoustic grand pianos in the world?

Japan constituted the country with the largest volume of grand piano production, accounting for 62% of total volume. Moreover, grand piano production in Japan exceeded the figures recorded by the second-largest producer, Indonesia, twofold. The third position in this ranking was occupied by Germany, with a 7.3% share.

What are the leading suppliers of acoustic grand pianos to Sri Lanka?

In value terms, Indonesia, Japan and Sweden constituted the largest grand piano suppliers to Sri Lanka.

What are the leading importers of acoustic grand pianos from Sri Lanka?

In value terms, Australia remains the key foreign market for grand piano exports from Sri Lanka.

What is the average export price for acoustic grand pianos in Sri Lanka?

The average grand piano export price stood at $65,586 per ton in 2020, with an increase of 1.7% against the previous year.

What is the average import price for acoustic grand pianos in Sri Lanka?

In 2020, the average grand piano import price amounted to $20,963 per ton, surging by 3.6% against the previous year.

This report provides an in-depth analysis of the grand piano market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32201130 - Acoustic grand pianos (including automatic pianos)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023