Piano makers ride musical surge in China

China, the world's largest producer of pianos, has an output of 376,000 units in 2013, almost 80 percent of the world's total. Xinhua

A growing number of families in China are able to afford a piano and lessons for their children. In 2013, the ownership of pianos had grown to three pianos for every 100 urban households, according to a report by marketresearchreports.biz, and the number is expected to rise to four by 2020. But there is still a big gap between China and developed countries (20 to 30 pianos per 100 households) in terms of piano ownership, which means there is still great potential for growth, the report concluded.

Not surprisingly, China is now the world's largest producer of pianos. The output for 2013 reached 376,000 units, almost 80 percent of the world's total. Meanwhile, the country imported 100,000 units in 2013.

And since 2002, domestic manufacturer Pearl River Piano has been the largest piano manufacturer in the world. In 2013, it produced 136,000 pianos, claiming a 35-percent share of the domestic market and a 25-percent share of the international market.

To further increase revenue, the company has invested 77.2 million yuan ($12.3 million) in the construction of plants to produce digital musical instruments with an annual production capacity of 103,000 units, including 60,000 digital pianos.

The increasing number of children learning the piano has also led to a steady growth in imports, with a compound annual growth rate of 29.3 percent from 2008 to 2013.