Ukraine: Piano Market 2024

Piano Market Size in Ukraine

The Ukrainian piano market dropped rapidly to $X in 2021, which is down by -25.9% 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 saw a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Piano Exports

Exports from Ukraine

In 2021, overseas shipments of pianos and other keyboard stringed musical instruments decreased by -45.4% to X kg, falling for the second consecutive year after three years of growth. Overall, exports faced a significant curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 573%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, piano exports dropped markedly to $X in 2021. In general, exports showed a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of 727%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Hungary (X kg), the United Arab Emirates (X kg) and Poland (X kg) were the main destinations of piano exports from Ukraine, together comprising 72% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +207.1%), while the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X) emerged as the key foreign market for pianos and other keyboard stringed musical instruments exports from Ukraine, comprising 65% of total exports. The second position in the ranking was held by Latvia ($X), with a 6.4% share of total exports. It was followed by the Netherlands, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value to Hungary stood at -15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (-22.3% per year) and the Netherlands (0.0% per year).

Export Prices by Country

In 2021, the average piano export price amounted to $X per ton, waning by -19.5% against the previous year. In general, the export price, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 158%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Israel ($X per ton), while the average price for exports to Serbia ($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 Spain (+170.8%), while the prices for the other major destinations experienced more modest paces of growth.

Piano Imports

Imports into Ukraine

Piano imports into Ukraine fell markedly to X tons in 2021, which is down by -27.3% on the year before. Overall, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 148% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, piano imports declined notably to $X in 2021. In general, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 when imports increased by 109% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), Indonesia (X tons) and Hungary (X tons) were the main suppliers of piano imports to Ukraine, with a combined 49% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +20.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United Arab Emirates ($X) and Indonesia ($X) were the largest piano suppliers to Ukraine, together comprising 33% of total imports. The Czech Republic, Switzerland, China, Japan, Hungary and the UK lagged somewhat behind, together comprising a further 26%.

Among the main suppliers, Switzerland, with a CAGR of +21.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average piano import price amounted to $X per ton, picking up by 1.5% against the previous year. Overall, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, piano import price decreased by -18.9% against 2019 indices. The pace of growth appeared the most rapid in 2015 an increase of 33%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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