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Global Acoustic Piano Market is Projected to Reach US$ 2563 Mn by 2024

Author: QYResearch | Publish date: 2018-08-17 | Views: 66
New report published by QY Research, which offers insights on the global Acoustic Piano market. The Acoustic Piano market has been experiencing steady growth graph since past years. During the 2017-2024 timeline, In 2018 the global Acoustic Piano market was valued at US$ 2145 Mn and by the end of the assessment year (2024), it is estimated to touch a value more than US$ 2563 Mn growing at a value CAGR of 2.3% throughout the period of forecast.

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Global Acoustic Piano Market: Market Driver and Restraint

The first Acoustic Piano factory in China is said to have been established in 1895, in Shanghai (perhaps by the British). During the 1950s, the Communists consolidated the country’s Acoustic Piano manufacturing into four government-owned factories: Shanghai, Beijing, and Dongbei (means “northeast”) in the northern part of the country, and Guangzhou Pearl River in the south. Acoustic Piano making, though industrial, remained primitive well into the 1990s. In that decade, the government of China began to open the country’s economy to foreign investment, first only to partnerships with the government, and later to completely private concerns.


Global Acoustic Piano Market: Key Takeaways

The worldwide changes in the Acoustic Piano industry are making it more difficult to advise Acoustic Piano shoppers. For many years, the paradigm for Acoustic Piano quality has been an international peck-ing order: Acoustic Pianos from Russia, China, and Indonesia at the bottom; followed by Korea, Japan, and Eastern Europe; and, finally, Western Europe at the top, with Acoustic Pianos from the U.S. scattered here and there, depending on the brand. This pecking order has never been foolproof, but it has served a generation of Acoustic Piano buyers well enough as a rule of thumb.


The Asia Pacific countries and regions are mainly represented by Korea, Japan, China, Hongkong and Australia. According to the statistics of the General Administration of Customs of China, China exported about 113,000 pianos to the above-mentioned countries and regions in 2010, with an export value of about 15,638,800 US dollars; and 4,107 pianos were exported in the first half of 2011, with an export value of about 6,862,500 US dollars, down 5.76% from the same period last year.


In recent years, influenced by the changes of raw materials, labor costs and target markets, the piano industry has been restructured and strategically shifted in Europe, the United States and Japan.


Almost all the famous piano enterprises abroad have established production bases in China, and China has gradually become a global piano industry. The production center.


Global Acoustic Piano Market: Forecast by Nature

At the same time that the range of quality differences is narrowing, the range of prices is widening, bringing into greater prominence issues of “value.” Eastern European brands have emerged as “value” alternatives to Western European brands, the latter becoming frightfully expensive due to high labor costs and the rapid appreciation of the euro against the dollar. Some of the better Acoustic Pianos from China, Korea, and Indonesia have become value alternatives to Japanese Acoustic Pianos. Brands that don’t scream “value” are being squeezed out of the market.


Global Acoustic Piano Market: Forecast by Application

While the European market for Acoustic Pianos is shrinking, China’s is booming. It is now both the world’s largest Acoustic Piano producer and consumer, with the country accounting for 76.9% of the global Acoustic Piano output in 2012 alone, according to market analysts ResearchMoz. But China is not just making Acoustic Pianos. It is also buying them. For many owning a Steinway, the Rolls-Royce of Acoustic Pianos, is a status symbol. Displaying a grand Acoustic Piano in the living room projects not only culture and learning but also wealth: only the largest homes can accommodate them. Prices can also veer into the extreme.


Global Acoustic Piano Market: Forecast by Form

As digital technology continues to mature, electric Acoustic Pianos are gradually absorbing the market for Acoustic Pianos. First and foremost, a digital Acoustic Piano is designed to accurately simulate an acoustic Acoustic Piano. Instead of physical hammers and strings, they incorporate high-level digital sound technology and strategically positioned speakers to produce a convincing and organic acoustic Acoustic Piano sound. In addition to providing great tone with easy volume control, the digital sound engine eliminates costly tuning and other regular maintenance that is required with acoustic Acoustic Pianos. Precision weighted keys recreate the feel of an acoustic keyboard for a realistic playing experience, while the ability to choose among different sounds—including various grand Acoustic Pianos as well as non-Acoustic Piano sounds—ensures that learning is varied and interesting. Some digital Acoustic Piano models even let you create your own sounds to suit your taste.


Digital Acoustic Pianos are often equipped with a huge variety of sounds beyond the acoustic Acoustic Piano, such as electric Acoustic Pianos from the ’70s and ’80s, strings, harpsichord, and church and electronic organs. Some also have guitar, bass, and synthesizer sounds for even more versatility. It’s great to be able to learn Scarlatti pieces using a convincing harpsichord sound, and a change in tone can inspire you and help recapture the passion if those fingering drills are becoming tiresome. Younger children also love experimenting and mixing sounds to make learning more exciting.


Global Acoustic Piano Market: Forecast by Region

According to the third-party statistics, the global piano production and sales have stabilized to about 500,000 pianos per year, with the Chinese market accounting for about 80% of the total sales, and the piano sales market in China is about 10 billion yuan. According to sales statistics, the Pearl River piano has remained the world's first for more than 10 years in a row, with a total sales of 2 million pianos, 1316,000 pianos in 2015, and 36% of the domestic market share. And Helen piano sales in 2015 about 25 thousand units, the domestic market share of about 7%.


Middle-class families in China are able to offer a Acoustic Piano and lessons to their children. In 2013, ownership of Acoustic Pianos increased to three Acoustic Pianos per 100 urban households, and it is expected that number to grow four times by 2020. But there is still a large gap between China and other developed countries. Which is 20-30 Acoustic Pianos per 100 households in terms of Acoustic Piano ownership, which means that there is still a great potential for growth.


Click to view the full report TOC, figure and tables

https://www.qyresearch.com/index/detail/666454/global-acoustic-piano-market

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