Sweden: Keyboard Stringed Instrument Market 2024

Keyboard Stringed Instrument Market Size in Sweden

The Swedish keyboard stringed instrument market expanded notably to $X in 2022, picking up by 8.1% against the previous year. In general, consumption, however, showed a slight shrinkage. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Keyboard Stringed Instrument Production in Sweden

In value terms, keyboard stringed instrument production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 12%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Keyboard Stringed Instrument Exports

Exports from Sweden

In 2022, the amount of keyboard stringed instruments exported from Sweden declined remarkably to X units, falling by -53.3% against 2021 figures. Overall, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2016 when exports increased by 138%. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, keyboard stringed instrument exports contracted notably to $X in 2022. Over the period under review, exports recorded a deep setback. The pace of growth was the most pronounced in 2013 when exports increased by 191%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Norway (X units), Japan (X units) and Sri Lanka (X units) were the main destinations of keyboard stringed instrument exports from Sweden, together accounting for 57% of total exports. Moreover, keyboard stringed instrument exports in Norway exceeded the figures recorded by the second-largest exporter, Japan, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for keyboard stringed instrument exported from Sweden were South Korea ($X), China ($X) and Norway ($X), together comprising 71% of total exports.

Among the main countries of destination, China, with a CAGR of +144.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average keyboard stringed instrument export price stood at $X per unit in 2022, rising by 32% against the previous year. Over the period under review, the export price continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2018 an increase of 132%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Sri Lanka ($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 China (+131.8%), while the prices for the other major destinations experienced more modest paces of growth.

Keyboard Stringed Instrument Imports

Imports into Sweden

In 2022, keyboard stringed instrument imports into Sweden contracted dramatically to X units, reducing by -22.2% on the previous year's figure. Overall, imports saw a precipitous shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by 350%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, keyboard stringed instrument imports soared to $X in 2022. In general, imports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2016 when imports increased by 144% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The UK (X units), Malaysia (X units) and Poland (X units) were the main suppliers of keyboard stringed instrument imports to Sweden, together accounting for 57% of total imports. Moreover, keyboard stringed instrument imports in the UK exceeded the figures recorded by the second-largest supplier, Malaysia, twofold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +18.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest keyboard stringed instrument suppliers to Sweden were the UK ($X), the United States ($X) and Taiwan (Chinese) ($X), with a combined 60% share of total imports.

The UK, with a CAGR of +72.1%, saw the highest growth rate of 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 keyboard stringed instrument import price stood at $X per unit in 2022, growing by 93% against the previous year. Overall, the import price enjoyed buoyant growth. The pace of growth was the most pronounced in 2020 when the average import price increased by 127%. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+277.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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