United Kingdom: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in the UK

The UK percussion musical instrument market surged to $X in 2022, jumping by 25% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Percussion Musical Instrument Production in the UK

In value terms, percussion musical instrument production expanded to $X in 2022 estimated in export price. Overall, production, however, posted a resilient expansion. The growth pace was the most rapid in 2018 when the production volume increased by 312%. Percussion musical instrument production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Percussion Musical Instrument Exports

Exports from the UK

In 2022, after two years of decline, there was significant growth in overseas shipments of percussion musical instruments, when their volume increased by 21% to X units. Over the period under review, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2019 with an increase of 66% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, percussion musical instrument exports skyrocketed to $X in 2022. Overall, exports posted perceptible growth. The pace of growth was the most pronounced in 2019 with an increase of 96% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for percussion musical instrument exports from the UK, with a 39% share of total exports. Moreover, percussion musical instrument exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X units), fourfold. The United States (X units) ranked third in terms of total exports with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+36.4% per year) and the United States (+5.7% per year).

In value terms, Germany ($X) remains the key foreign market for percussion musical instruments exports from the UK, comprising 39% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 9.9% share of total exports. It was followed by the United States, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+35.3% per year) and the United States (+4.3% per year).

Export Prices by Country

The average percussion musical instrument export price stood at $X per unit in 2022, approximately equating the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 25% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Spain ($X per unit) and Italy ($X per unit), while the average price for exports to Oman ($X per unit) and Israel ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Percussion Musical Instrument Imports

Imports into the UK

For the fifth consecutive year, the UK recorded growth in purchases abroad of percussion musical instruments, which increased by 42% to X units in 2022. Over the period under review, imports, however, showed a slight setback. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, percussion musical instrument imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), the United States (X units) and Taiwan (Chinese) (X units) were the main suppliers of percussion musical instrument imports to the UK, together accounting for 68% of total imports. Germany, Turkey, South Korea, Pakistan, India, Indonesia, the Netherlands, Canada and Belgium lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +20.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Taiwan (Chinese) ($X) appeared to be the largest percussion musical instrument suppliers to the UK, together comprising 71% of total imports. Germany, Turkey, the Netherlands, Indonesia, Canada, South Korea, Pakistan, India and Belgium lagged somewhat behind, together accounting for a further 18%.

Among the main suppliers, South Korea, with a CAGR of +21.0%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average percussion musical instrument import price amounted to $X per unit, shrinking by -16.8% against the previous year. In general, the import price, however, enjoyed a moderate expansion. The growth pace was the most rapid in 2015 an increase of 42% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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