China becomes largest musical instrument market
Updated: 2013-10-11 09:46
SHANGHAI - China's musical instrument market reached over 40 billion yuan ($6.5 billion) in 2012, surpassing the United States for the second year to become the largest musical instrument market in the world.
According to statistics released at the ongoing China (Shanghai) International Musical Instrument Expo held in Shanghai, the sales volume of the Chinese musical instrument industry has increased by three times in the past decade, surpassing the size of the US market for two consecutive years since 2011.
In 2012, China imported musical instruments worth more than 1.85 billion yuan, and domestic production and sales totaled 38.5 billion, according to statistics from the General Administration of Customs.
"With growing economic strength and cultural consumption demands, a large musical instrument market is forming in the country now, including instrument production, sales, education and entertainment," said Zeng Zemin, secretary general of the China Musical Instrument Association (CMIA).
Zeng said China's musical instrument market size is expected to reach 100 billion yuan before 2020.
China's musical instrument industry has developed rapidly in the past ten years. Most well-known international instrument brands have set up manufacturing plants or cooperated on manufacturing in China. China has become a major production site for mid- and low-end musical instruments.
Statistics released by CMIA showed that, in 2012, the total world output of pianos was 500,000, with China accounting for 80 percent. Of the two million Western orchestral instruments in the world, 60 percent of them were made in China, and the country produced 80 percent of the 1.3 million violins made worldwide in 2012.
"Musical instrument exports from China increased by 4.85 percent, and imports grew by 11.42 percent in 2012, which means that China is not only a big musical instrument manufacturer, but also a big consumer," Zeng said.