Report Update Nov 1, 2024

Vietnam - Keyboard Stringed Instruments - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Keyboard Stringed Instrument Market 2024

Keyboard Stringed Instrument Exports

Exports from Vietnam

In 2022, approx. X units of keyboard stringed instruments were exported from Vietnam; picking up by 53% on the previous year. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 1,750% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, keyboard stringed instrument exports skyrocketed to $X in 2022. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2015 with an increase of 2,257% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Cambodia (X units) was the main destination for keyboard stringed instrument exports from Vietnam, accounting for a 68% share of total exports. Moreover, keyboard stringed instrument exports to Cambodia exceeded the volume sent to the second major destination, the United States (X units), sixfold. The third position in this ranking was taken by Germany (X units), with a 6% share.

From 2012 to 2022, the average annual growth rate of volume to Cambodia amounted to +65.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-20.9% per year) and Germany (+10.7% per year).

In value terms, the largest markets for keyboard stringed instrument exported from Vietnam were the United States ($X), Japan ($X) and Germany ($X), together comprising 56% of total exports.

Among the main countries of destination, Germany, with a CAGR of +94.2%, recorded 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

The average keyboard stringed instrument export price stood at $X per unit in 2022, with a decrease of -2.5% against the previous year. Over the period under review, the export price, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by 91%. The export price peaked at $X per unit in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Cambodia ($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 Germany (+47.2%), while the prices for the other major destinations experienced mixed trend patterns.

Keyboard Stringed Instrument Imports

Imports into Vietnam

In 2022, overseas purchases of keyboard stringed instruments increased by 56% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 297%. Over the period under review, imports reached the peak figure at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, keyboard stringed instrument imports rose notably to $X in 2022. In general, imports, however, continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2016 with an increase of 128% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

South Korea (X units), Indonesia (X units) and Japan (X units) were the main suppliers of keyboard stringed instrument imports to Vietnam, together comprising 97% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +67.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of keyboard stringed instruments to Vietnam, comprising 64% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports. It was followed by South Korea, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan stood at -10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.7% per year) and South Korea (-0.4% per year).

Import Prices by Country

The average keyboard stringed instrument import price stood at $X per unit in 2022, dropping by -28.6% against the previous year. Over the period under review, the import price showed a precipitous contraction. The growth pace was the most rapid in 2021 an increase of 73%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-14.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for keyboard stringed instruments in the world?

The countries with the highest volumes of in 2021 were South Korea, Indonesia and Japan, together comprising 78% of global consumption.

What are the largest producers of keyboard stringed instruments in the world?

The countries with the highest volumes of in 2021 were South Korea, Indonesia and Japan, together comprising 87% of global production. These countries were followed by the United Arab Emirates and the UK, which together accounted for a further 4.1%.

What are the leading suppliers of keyboard stringed instruments to Vietnam?

In value terms, China constituted the largest supplier of keyboard stringed instrument to Vietnam, comprising 50% of total imports. The second position in the ranking was occupied by South Korea, with an 8.6% share of total imports. It was followed by Japan, with a 6.9% share.

What are the leading importers of keyboard stringed instruments from Vietnam?

In value terms, Germany remains the key foreign market for keyboard stringed instrument exports from Vietnam, comprising 36% of total exports. The second position in the ranking was occupied by Sweden, with a 13% share of total exports. It was followed by France, with a 9.7% share.

What is the average export price for keyboard stringed instruments in Vietnam?

In 2021, the average keyboard stringed instrument export price amounted to $64,196 per ton, dropping by -3.8% against the previous year.

What is the average import price for keyboard stringed instruments in Vietnam?

The average keyboard stringed instrument import price stood at $37,847 per ton in 2021, picking up by 68% against the previous year.

This report provides an in-depth analysis of the keyboard stringed instrument market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32201150 - Keyboard stringed instruments (including harpsichords, s pinets and clavichords)

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023