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United Kingdom - Electrical Musical Or Keyboard Instruments - Market Analysis, Forecast, Size, Trends And Insights

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Article Publishing Date: May 31, 2024

UK Imports of Electrical Musical Instruments Diminish to $187M in 2023

United Kingdom Electrical Musical Instrument Imports

For the third year in a row, the UK recorded decline in purchases abroad of electrical musical or keyboard instruments, which decreased by -8.4% to 643K units in 2023. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 36%. Imports peaked at 921K units in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, electrical musical instrument imports declined slightly to $187M (IndexBox estimates) in 2023. The total import value increased at an average annual rate of +3.5% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 17% against the previous year. Over the period under review, imports reached the maximum at $196M in 2022, and then contracted in the following year. United Kingdom Electrical Musical Instrument Imports By Country (Million USD)

COUNTRY	Import Value of Electrical Musical Instrument in United Kingdom (million USD)
COUNTRY	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
China	29.5	31.4	29.3	31.4	30.5	40.2	42.2	49.5	48.8	64.3	65.7
United States	11.4	14.5	11.6	13.8	13.5	14.5	13.3	12.6	14.5	38.5	41.3
Indonesia	15.9	17.0	19.0	21.7	18.2	21.1	22.9	21.1	32.3	41.6	32.5
Malaysia	0.2	N/A	N/A	N/A	0.5	N/A	3.4	0.2	0.1	13.8	12.8
Mexico	N/A	N/A	N/A	0.4	0.1	0.1	N/A	N/A	N/A	8.0	8.6
Japan	4.3	5.4	3.7	3.9	3.2	3.4	2.5	2.3	3.9	6.7	6.3
Italy	0.4	0.1	0.4	2.3	1.9	1.6	1.7	2.5	0.9	2.1	3.7
Germany	10.0	15.4	16.4	11.2	10.5	15.8	12.2	21.4	19.0	2.4	2.1
Netherlands	51.0	41.8	38.2	40.2	36.2	40.5	43.3	45.1	59.6	1.6	0.9
Belgium	0.3	0.4	0.5	16.9	22.5	12.6	9.3	9.0	0.6	0.1	0.1
Others	10.1	11.2	10.2	9.3	12.5	15.1	16.1	15.8	15.4	17.2	12.8
Total	133	137	129	151	150	165	167	180	195	196	187

Imports by Country

In 2023, China (384K units) constituted the largest electrical musical instrument supplier to the UK, with a 60% share of total imports. Moreover, electrical musical instrument imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (85K units), fourfold. the United States (50K units) ranked third in terms of total imports with a 7.8% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from China stood at +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+7.7% per year) and the United States (+3.4% per year).

In value terms, China ($66M), the United States ($41M) and Indonesia ($33M) appeared to be the largest electrical musical instrument suppliers to the UK, together comprising 75% of total imports. Malaysia, Mexico, Japan, Italy, Germany, the Netherlands and Belgium lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Mexico, with a CAGR of +106.5%, saw 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.

Imports by Type

Non-keyboard electrical musical instruments (404K units) and keyboard electrical musical instruments, other than accordions (239K units) were the main products of electrical musical instrument imports to the UK.

From 2013 to 2023, the biggest increases were recorded for keyboard electrical musical instruments, other than accordions (with a CAGR of +3.6%).

In value terms, non-keyboard electrical musical instruments ($119M) and keyboard electrical musical instruments, other than accordions ($68M) were the most imported types of electrical musical or keyboard instruments in the UK.

Import Prices by Country

In 2023, the electrical musical instrument price stood at $291 per unit (CIF, United Kingdom), picking up by 3.9% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2021 an increase of 31% against the previous year. Over the period under review, average import prices hit record highs in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($819 per unit), while the price for the Netherlands ($133 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Belgium (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the electrical musical instrument market in the UK. 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 32201400 - Musical or keyboard instruments, the sound of which is produced, or must be amplified, electrically

Country coverage:

United Kingdom

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the UK
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

United Kingdom - Electrical Musical Or Keyboard Instruments - Market Analysis, Forecast, Size, Trends And Insights

UK Imports of Electrical Musical Instruments Diminish to $187M in 2023

United Kingdom Electrical Musical Instrument Imports

Imports by Country

Imports by Type

Import Prices by Country

Product coverage:

Country coverage:

Data coverage:

Reasons to buy this report:

1. INTRODUCTION

2. EXECUTIVE SUMMARY

3. MARKET OVERVIEW

4. MOST PROMISING PRODUCT

5. MOST PROMISING SUPPLYING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

7. PRODUCTION

8. IMPORTS

9. EXPORTS

10. PROFILES OF MAJOR PRODUCERS

LIST OF TABLES

LIST OF FIGURES

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