With production value of USD7.4 billion, China accounts for 50.9% of the Asia Pacific total in 2023. The industry’s exports share decreases in 2023 to 29.0% of total production output. The industry’s profitability decreases and stands at 12.5% of production value in 2023, the second highest regionally. The costs of the industry decrease by 0.8% in 2023, largely driven by declining B2B costs. The total number of companies remains unchanged in 2023. The industry is fragmented, with the top five companies generating 19.0% of total production value in 2023. Yamaha Corp is the largest company in China, generating 9.8% of the industry’s total production value in 2023. China has the largest market size for musical instruments regionally, with demand reaching USD6.8 billion in 2023. Households drive market demand, with household spending representing 53.4% of total demand in 2023. The market is dominated by domestic suppliers, as imports account for 7.4% of total market size in 2023.
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This Euromonitor industrial report provides unique information on Musical Instruments in China: ISIC 3692. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Musical Instruments in China: ISIC 3692 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
Household Goods is an aggregation of Furniture, Jewellery and Related Articles, Musical Instruments; Imitation Jewellery, Brushes and Other Personal Items, Sports Goods, Toys and Games, Watches and Clocks.
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