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Vietnam - Electrical Musical or Keyboard Instruments - Market Analysis, Forecast, Size, Trends and Insights
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View PricingVietnam: Electrical Musical Instrument Market 2024
Electrical Musical Instrument Market Size in Vietnam
The Vietnamese electrical musical instrument market skyrocketed to $X in 2023, with an increase of X% against the previous year. In general, consumption, however, continues to indicate a abrupt curtailment. Electrical musical instrument consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.
Electrical Musical Instrument Production in Vietnam
In value terms, electrical musical instrument production reached $X in 2023 estimated in export price. Overall, production, however, continues to indicate a deep setback. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Electrical musical instrument production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.
Electrical Musical Instrument Exports
Exports from Vietnam
After three years of growth, shipments abroad of electrical musical or keyboard instruments decreased by X% to X units in 2023. Over the period under review, exports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at X units in 2022, and then fell in the following year.
In value terms, electrical musical instrument exports fell to $X in 2023. Overall, exports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.
Exports by Country
The United States (X units), Germany (X units) and the UK (X units) were the main destinations of electrical musical instrument exports from Vietnam, with a combined X% share of total exports. Italy, Sweden, Thailand, South Korea, Japan and Poland lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for electrical musical instrument exported from Vietnam were the United States ($X), Germany ($X) and the UK ($X), with a combined X% share of total exports. Italy, Sweden, Thailand, South Korea, Japan and Poland lagged somewhat behind, together accounting for a further X%.
Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the average electrical musical instrument export price amounted to $X per unit, surging by X% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, electrical musical instrument export price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Thailand ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.
Electrical Musical Instrument Imports
Imports into Vietnam
In 2023, the amount of electrical musical or keyboard instruments imported into Vietnam soared to X units, growing by X% on the previous year's figure. Over the period under review, imports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.
In value terms, electrical musical instrument imports rose remarkably to $X in 2023. In general, imports, however, continue to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2023, the growth of imports failed to regain momentum.
Imports by Country
China (X units), Indonesia (X units) and Malaysia (X units) were the main suppliers of electrical musical instrument imports to Vietnam, with a combined X% share of total imports. Japan and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the biggest increases were recorded for Japan (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.
In value terms, China ($X), Indonesia ($X) and Malaysia ($X) were the largest electrical musical instrument suppliers to Vietnam, together accounting for X% of total imports. Japan and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.
In terms of the main suppliers, Japan, with a CAGR of X%, 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 mixed trend patterns.
Import Prices by Country
The average electrical musical instrument import price stood at $X per unit in 2023, which is down by X% against the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, electrical musical instrument import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2014 to 2023, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the electrical musical 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 32201400 - Musical or keyboard instruments, the sound of which is produced, or must be amplified, electrically
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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