United Kingdom: Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size in the UK

For the fifth consecutive year, the UK electrical musical instrument market recorded growth in sales value, which increased by X% to $X in 2022. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2012 indices. Electrical musical instrument consumption peaked in 2022 and is expected to retain growth in the immediate term.

Electrical Musical Instrument Production in the UK

In value terms, electrical musical instrument production fell to $X in 2022 estimated in export price. In general, production recorded a significant increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

Electrical Musical Instrument Exports

Exports from the UK

Electrical musical instrument exports from the UK reduced slightly to X units in 2022, waning by X% against the previous year. In general, exports, however, continue to indicate a slight increase. 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 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, electrical musical instrument exports expanded notably to $X in 2022. Overall, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X units), the Netherlands (X units) and the United States (X units) were the main destinations of electrical musical instrument exports from the UK, with a combined X% share of total exports. France, Spain, Sweden, Italy, Ireland, Switzerland, Japan and Australia lagged somewhat behind, together accounting for a further X%.

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

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

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

Export Prices by Country

The average electrical musical instrument export price stood at $X per unit in 2022, increasing by X% against the previous year. Overall, the export price saw a remarkable increase. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

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

Electrical Musical Instrument Imports

Imports into the UK

Electrical musical instrument imports into the UK stood at X units in 2022, remaining relatively unchanged against the previous year's figure. In general, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, electrical musical instrument imports reached $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical musical instrument to the UK, 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), threefold. Malaysia (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 amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Malaysia (X% per year).

In value terms, the largest electrical musical instrument suppliers to the UK were China ($X), Indonesia ($X) and the United States ($X), together accounting for X% of total imports. Malaysia, Mexico, Japan, South Korea, Vietnam, Germany and the Netherlands lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Malaysia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electrical musical instrument import price stood at $X per unit in 2022, almost unchanged from the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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