U.S.: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in the U.S.

In 2022, the U.S. percussion musical instrument market increased by 19% to $X, rising for the second consecutive year after two years of decline. In general, consumption saw a perceptible slump. Percussion musical instrument consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Percussion Musical Instrument Exports

Exports from the U.S.

In 2022, percussion musical instrument exports from the United States soared to X units, growing by 28% compared with the year before. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 31%. The exports peaked at X units in 2015; afterwards, it flattened through to 2022.

In value terms, percussion musical instrument exports soared to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 24% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The UK (X units) was the main destination for percussion musical instrument exports from the United States, accounting for a 35% share of total exports. Moreover, percussion musical instrument exports to the UK exceeded the volume sent to the second major destination, Canada (X units), threefold. The third position in this ranking was taken by Japan (X units), with a 7% share.

From 2012 to 2022, the average annual growth rate of volume to the UK amounted to +22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+2.9% per year) and Japan (-3.0% per year).

In value terms, the largest markets for percussion musical instrument exported from the United States were Germany ($X), the UK ($X) and Canada ($X), with a combined 41% share of total exports.

Among the main countries of destination, the UK, with a CAGR of +9.6%, saw the highest growth rate of 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 2022, the average percussion musical instrument export price amounted to $X per unit, with a decrease of -6.3% against the previous year. Over the period under review, the export price showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2016 when the average export price increased by 9.9% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the UK ($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 the Netherlands (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into the U.S.

In 2022, supplies from abroad of percussion musical instruments increased by 4.3% to X units, rising for the second year in a row after four years of decline. In general, imports, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, percussion musical instrument imports soared to $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Taiwan (Chinese) (X units) and Thailand (X units) were the main suppliers of percussion musical instrument imports to the United States, with a combined 75% share of total imports. Indonesia, India, Canada and Germany lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +1.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of percussion musical instruments to the United States, comprising 40% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 18% share of total imports. It was followed by Germany, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+2.9% per year) and Germany (+8.3% per year).

Import Prices by Country

The average percussion musical instrument import price stood at $X per unit in 2022, picking up by 31% against the previous year. In general, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, percussion musical instrument import price increased by +28.2% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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