Report Update Nov 1, 2024

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

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Sri Lanka: Upright Piano Market 2024

Upright Piano Market Size in Sri Lanka

In 2022, the Sri Lankan upright piano market decreased by -80.6% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption showed a deep contraction. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Upright Piano Exports

Exports from Sri Lanka

In 2022, overseas shipments of acoustic new upright pianos were finally on the rise to reach X units after two years of decline. Over the period under review, total exports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 75% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, upright piano exports surged to $X in 2022. In general, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 263%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Australia (X units) was the main destination for upright piano exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia stood at +19.6%.

In value terms, Australia ($X) emerged as the key foreign market for acoustic new upright pianos exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia totaled +19.6%.

Export Prices by Country

In 2022, the average upright piano export price amounted to $X per unit, increasing by 13% against the previous year. In general, the export price showed a strong increase. The pace of growth was the most pronounced in 2013 an increase of 354% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to +31.8% per year.

Upright Piano Imports

Imports into Sri Lanka

After two years of growth, supplies from abroad of acoustic new upright pianos decreased by -72.9% to X units in 2022. Overall, imports saw a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of 91% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, upright piano imports reduced dramatically to $X in 2022. In general, imports saw a abrupt setback. The growth pace was the most rapid in 2018 with an increase of 115%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Singapore (X units), Japan (X units) and Sweden (X units) were the main suppliers of upright piano imports to Sri Lanka, with a combined 90% share of total imports. Australia and Indonesia lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +26.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest upright piano suppliers to Sri Lanka were Japan ($X), Indonesia ($X) and Singapore ($X), together accounting for 96% of total imports.

Among the main suppliers, Indonesia, with a CAGR of +17.7%, 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 a decline.

Import Prices by Country

In 2022, the average upright piano import price amounted to $X per unit, waning by -30.3% against the previous year. Overall, the import price recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 25%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+9.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for acoustic new upright pianos in the world?

The country with the largest volume of upright piano consumption was China, accounting for 56% of total volume. Moreover, upright piano consumption in China exceeded the figures recorded by the second-largest consumer, Vietnam, ninefold. Japan ranked third in terms of total consumption with a 5.9% share.

What are the largest producers of acoustic new upright pianos in the world?

Japan constituted the country with the largest volume of upright piano production, accounting for 62% of total volume. Moreover, upright piano production in Japan exceeded the figures recorded by the second-largest producer, Indonesia, twofold. Germany ranked third in terms of total production with a 2.7% share.

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

In value terms, Japan constituted the largest supplier of upright piano to Sri Lanka, comprising 68% of total imports. The second position in the ranking was occupied by Singapore, with a 13% share of total imports. It was followed by Indonesia, with a 7.3% share.

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

In value terms, the largest markets for upright piano exported from Sri Lanka were Australia $440), the United States $329) and the UK $184), together comprising 84% of total exports.

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

The average upright piano export price stood at $16,860 per ton in 2021, with an increase of 2.6% against the previous year.

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

The average upright piano import price stood at $11,607 per ton in 2021, with a decrease of -7.4% against the previous year.

This report provides an in-depth analysis of the upright 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 32201110 - Acoustic new upright 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