Thailand: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in Thailand

The Thai electrical musical instrument market dropped sharply to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a noticeable slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Electrical Musical Instrument Exports

Exports from Thailand

In 2022, overseas shipments of electrical musical or keyboard instruments decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, electrical musical instrument exports shrank notably to $X in 2022. Overall, exports, however, recorded notable growth. The growth pace was the most rapid in 2015 when exports increased by X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X units), the United States (X units) and Nepal (X units) were the main destinations of electrical musical instrument exports from Thailand, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Nepal (with a CAGR of X.0%), while shipments for the other leaders experienced more modest paces of growth.

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

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

Export Prices by Country

In 2022, the average electrical musical instrument export price amounted to $X per unit, rising by X% against the previous year. In general, the export price showed a notable expansion. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

Electrical Musical Instrument Imports

Imports into Thailand

In 2022, approx. X units of electrical musical or keyboard instruments were imported into Thailand; dropping by X% against the year before. Overall, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, electrical musical instrument imports contracted to $X in 2022. In general, imports continue to indicate a slight decrease. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical musical instrument to Thailand, accounting for a X% share of total imports. Moreover, electrical musical instrument imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), fivefold. Japan (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Japan (X% per year).

In value terms, China ($X), Indonesia ($X) and the United States ($X) constituted the largest electrical musical instrument suppliers to Thailand, with a combined X% share of total imports. Malaysia and Japan lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Malaysia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average electrical musical instrument import price amounted to $X per unit, growing by X% against the previous year. Overall, the import price enjoyed a resilient increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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