Switzerland: Piano Market 2024

Piano Market Size in Switzerland

After two years of growth, the Swiss piano market decreased by -2.1% to $X in 2021. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Piano Exports

Exports from Switzerland

After three years of growth, overseas shipments of pianos and other keyboard stringed musical instruments decreased by -5.3% to X tons in 2021. Overall, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2013 when exports increased by 15% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, piano exports dropped modestly to $X in 2021. Over the period under review, exports recorded a perceptible decline. The pace of growth was the most pronounced in 2018 when exports increased by 13%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Poland (X tons) and France (X tons) were the main destinations of piano exports from Switzerland, with a combined 73% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +67.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), France ($X) and Italy ($X) were the largest markets for piano exported from Switzerland worldwide, together accounting for 84% of total exports. The UK, Poland, the Netherlands, the Czech Republic, Austria and Serbia lagged somewhat behind, together accounting for a further 13%.

Among the main countries of destination, Poland, with a CAGR of +69.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average piano export price amounted to $X per ton, with an increase of 4.3% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, piano export price increased by +52.7% against 2013 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 25%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+58.0%), while the prices for the other major destinations experienced more modest paces of growth.

Piano Imports

Imports into Switzerland

In 2021, supplies from abroad of pianos and other keyboard stringed musical instruments increased by 5.3% to X tons, rising for the third consecutive year after six years of decline. Over the period under review, imports, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 6.4%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, piano imports shrank to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 35%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), Indonesia (X tons) and Japan (X tons) were the main suppliers of piano imports to Switzerland, with a combined 79% share of total imports. These countries were followed by the Czech Republic, France, Italy and China, which together accounted for a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +13.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of pianos and other keyboard stringed musical instruments to Switzerland, comprising 49% of total imports. The second position in the ranking was held by Japan ($X), with a 15% share of total imports. It was followed by Indonesia, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.2% per year) and Indonesia (-1.0% per year).

Import Prices by Country

In 2021, the average piano import price amounted to $X per ton, falling by -10.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2020 an increase of 32% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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