United Kingdom: Grand Piano Market 2024

Grand Piano Market Size in the UK

In 2021, the UK grand piano market increased by 37% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Grand Piano Exports

Exports from the UK

In 2021, shipments abroad of acoustic grand pianos increased by 106% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports recorded a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, grand piano exports soared to $X in 2021. In general, exports posted a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ireland (X tons), China (X tons) and Germany (X tons) were the main destinations of grand piano exports from the UK, with a combined 54% share of total exports. These countries were followed by France, Japan, Switzerland, the United States, Australia, Italy, the United Arab Emirates and Spain, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +70.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), the United Arab Emirates ($X) and China ($X) constituted the largest markets for grand piano exported from the UK worldwide, with a combined 45% share of total exports. These countries were followed by Germany, France, the United States, Japan, Switzerland, Italy, Australia and Spain, which together accounted for a further 37%.

Italy, with a CAGR of +110.3%, recorded the highest rates of growth with regard to 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, jumping by 29% against the previous year. Overall, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grand piano export price increased by +45.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 43%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Japan ($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 United Arab Emirates (+39.9%), while the prices for the other major destinations experienced more modest paces of growth.

Grand Piano Imports

Imports into the UK

In 2021, after two years of decline, there was significant growth in overseas purchases of acoustic grand pianos, when their volume increased by 36% to X tons. The total import volume increased at an average annual rate of +5.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, grand piano imports surged to $X in 2021. Overall, total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Japan (X tons) and Indonesia (X tons) were the main suppliers of grand piano imports to the UK, together comprising 79% of total imports. China and Vietnam lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +898.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of acoustic grand pianos to the UK, comprising 68% of total imports. The second position in the ranking was held by Japan ($X), with an 18% share of total imports. It was followed by Indonesia, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.0% per year) and Indonesia (+1.6% per year).

Import Prices by Country

The average grand piano import price stood at $X per ton in 2021, picking up by 17% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 44% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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