Over the past decade the industrial sales value of China’s musical instrument industry has more than tripled. In 2012 the market exceeded RMB 40 billion, and for two consecutive years China has been the world’s largest instrument market, ahead of the United States.
Zeng Zemin, secretary-general of the China Musical Instrument Association, said that growing economic strength and cultural demand are producing a market in which manufacturing, music education and live entertainment reinforce one another. He expects the market to reach RMB 100 billion by 2020.
The United States, long the largest market, has held steady at around USD 6.6 billion in recent years. China overtook it for the first time in 2011, and widened the gap in 2012.
The sector’s rapid growth has been driven by China’s broader economic development and by the shift of global instrument manufacturing toward China. Many well-known international brands now manufacture or cooperate here, bringing international quality standards and technical guidance with them.
In 2012 instrument exports grew 4.85 per cent while imports grew 11.42 per cent. “That shows China has become a major producer and consumer of musical instruments worldwide,” Zeng said.