Turkey: Grand Piano Market 2024

Grand Piano Market Size in Turkey

The Turkish grand piano market soared to $X in 2021, picking up by 105% 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). In general, consumption, however, saw a abrupt decline. Grand piano consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Grand Piano Exports

Exports from Turkey

In 2021, the amount of acoustic grand pianos exported from Turkey contracted sharply to X kg, with a decrease of -78.4% compared with 2020. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 2,750% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, grand piano exports reduced sharply to $X in 2021. Overall, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 1,904% against the previous year. The exports peaked at $X in 2020, and then reduced notably in the following year.

Exports by Country

Georgia (X kg) was the main destination for grand piano exports from Turkey, accounting for a 33% share of total exports. Moreover, grand piano exports to Georgia exceeded the volume sent to the second major destination, Saudi Arabia (X kg), twofold. The third position in this ranking was held by Qatar (X kg), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Georgia totaled +51.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+33.2% per year) and Qatar (+26.6% per year).

In value terms, Kazakhstan ($X), Georgia ($X) and Cote d'Ivoire ($X) constituted the largest markets for grand piano exported from Turkey worldwide, with a combined 88% share of total exports.

Kazakhstan, with a CAGR of +68.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average grand piano export price stood at $X per ton in 2021, waning by -24% against the previous year. Over the period under review, the export price, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 75%. As a result, the export price attained the peak level of $X per ton, and then plummeted in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Qatar ($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 Kazakhstan (+4.8%), while the prices for the other major destinations experienced a decline.

Grand Piano Imports

Imports into Turkey

In 2021, the amount of acoustic grand pianos imported into Turkey skyrocketed to X tons, picking up by 81% against the previous year's figure. Overall, imports, however, saw a abrupt curtailment. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, grand piano imports soared to $X in 2021. In general, imports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of 52% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of grand piano to Turkey, with a 42% share of total imports. Moreover, grand piano imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Indonesia (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-11.3% per year) and Indonesia (+0.8% per year).

In value terms, Switzerland ($X) constituted the largest supplier of acoustic grand pianos to Turkey, comprising 38% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Switzerland stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-15.1% per year) and China (-7.0% per year).

Import Prices by Country

The average grand piano import price stood at $X per ton in 2021, falling by -25.9% against the previous year. Overall, the import price saw a mild slump. The pace of growth appeared the most rapid in 2020 an increase of 55%. As a result, import price reached the peak level of $X per ton, and then declined sharply 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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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