Global Electrical Musical Instrument Market 2024

Electrical Musical Instrument Market Size

For the fifth year in a row, the global electrical musical instrument market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, the total consumption indicated a moderate 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 2017 indices. Over the period under review, the global market reached the maximum level in 2022 and is expected to retain growth in years to come.

Electrical Musical Instrument Production

In value terms, electrical musical instrument production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a moderate 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, global production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Electrical Musical Instrument Exports

Exports

In 2022, overseas shipments of electrical musical or keyboard instruments decreased by X% to X units for the first time since 2015, thus ending a six-year rising trend. Overall, exports, however, showed a measured expansion. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X units, and then reduced in the following year.

In value terms, electrical musical instrument exports reached $X in 2022. Over the period under review, total exports indicated a notable 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, exports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the global exports attained the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

China dominates exports structure, accounting for X units, which was approx. X% of total exports in 2022. It was distantly followed by the Netherlands (X units), Germany (X units) and Indonesia (X units), together making up a X% share of total exports. The United States (X units), Malaysia (X units) and Belgium (X units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to electrical musical instrument exports from China stood at X%. At the same time, the Netherlands (X%), Malaysia (X%), Belgium (X%), Germany (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. The United States experienced a relatively flat trend pattern. The Netherlands (X p.p.), Germany (X p.p.), Malaysia (X p.p.) and Belgium (X p.p.) significantly strengthened its position in terms of the global exports, while the United States and China saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electrical musical instrument supplying countries worldwide were China ($X), Indonesia ($X) and the United States ($X), with a combined X% share of global exports. Germany, the Netherlands, Malaysia and Belgium lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average electrical musical instrument export price amounted to $X per unit, growing by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The global export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other global leaders experienced more modest paces of growth.

Electrical Musical Instrument Imports

Imports

In 2022, purchases abroad of electrical musical or keyboard instruments decreased by X% to X units for the first time since 2015, thus ending a six-year rising trend. Overall, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then contracted in the following year.

In value terms, electrical musical instrument imports rose to $X in 2022. In general, total imports indicated a temperate expansion 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 growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

The United States represented the largest importing country with an import of around X units, which amounted to X% of total imports. Germany (X units) held the second position in the ranking, followed by the Netherlands (X units). All these countries together held near X% share of total imports. The UK (X units), France (X units), India (X units), Russia (X units), Japan (X units), Belgium (X units), Canada (X units), Italy (X units), China (X units) and Brazil (X units) took a little share of total imports.

Imports into the United States increased at an average annual rate of X% from 2012 to 2022. At the same time, China (X%), the Netherlands (X%), Belgium (X%), Germany (X%), Italy (X%), France (X%), the UK (X%), Russia (X%), India (X%) and Canada (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) and Brazil (X%) illustrated a downward trend over the same period. Germany (X p.p.), the Netherlands (X p.p.), Belgium (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the global imports, while the United States, Brazil and Japan saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electrical musical instrument importing markets worldwide were the United States ($X), Germany ($X) and the Netherlands ($X), with a combined X% share of global imports. Japan, the UK, France, Canada, China, Belgium, Russia, Italy, Brazil and India lagged somewhat behind, together comprising a further X%.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average electrical musical instrument import price amounted to $X per unit, rising by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Global import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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