Sweden: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Sweden

In 2022, the Swedish electrical musical instrument market decreased by X% to $X, falling for the third year in a row after two years of growth. In general, consumption continues to indicate a drastic downturn. Electrical musical instrument consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Electrical Musical Instrument Production in Sweden

In value terms, electrical musical instrument production skyrocketed to $X in 2022 estimated in export price. In general, production, however, faced a deep contraction. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Electrical Musical Instrument Exports

Exports from Sweden

In 2022, electrical musical instrument exports from Sweden reduced to X units, falling by X% compared with 2021 figures. Over the period under review, exports, however, recorded strong growth. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked at X units in 2021, and then contracted in the following year.

In value terms, electrical musical instrument exports declined slightly to $X in 2022. In general, exports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

The United States (X units), Norway (X units) and the UK (X units) were the main destinations of electrical musical instrument exports from Sweden, with a combined X% share of total exports. Germany, Denmark, Finland, the Netherlands, Japan, France, Canada, Australia and Switzerland lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United States ($X) remains the key foreign market for electrical musical or keyboard instruments exports from Sweden, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Norway, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Norway (X% per year).

Export Prices by Country

In 2022, the average electrical musical instrument export price amounted to $X per unit, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Norway ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Musical Instrument Imports

Imports into Sweden

In 2022, the amount of electrical musical or keyboard instruments imported into Sweden fell sharply to X units, which is down by X% on 2021. In general, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, electrical musical instrument imports fell dramatically to $X in 2022. Over the period under review, imports, however, posted perceptible growth. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted notably in the following year.

Imports by Country

China (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of electrical musical instrument imports to Sweden, with a combined X% share of total imports. Indonesia, the United States, Hong Kong SAR, Vietnam and Denmark lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest electrical musical instrument suppliers to Sweden were Germany ($X), China ($X) and Indonesia ($X), together comprising X% of total imports. The Netherlands, the United States, Vietnam, Hong Kong SAR and Denmark lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, 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

In 2022, the average electrical musical instrument import price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the import price, however, recorded a perceptible downturn. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 Denmark ($X per unit), while the price for Hong Kong SAR ($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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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