The market is dominated by domestic suppliers, as imports account for 8.4% of total market size in 2022. Investments drive market demand, with investments representing 70.3% of total demand in 2022. Saudi Arabia has the second largest market size for musical instruments regionally, with demand reaching USD192 million in 2022. Al Majid Factory For Oud is the largest company in Saudi Arabia, generating 3.4% of the industry’s total production value in 2022. The industry is fragmented, with the top one company generating 3.4% of total production value in 2022. The total number of companies increases in 2022, to 44 units. The costs of the industry increase by 18.5% in 2022, largely driven by rising B2B costs. The industry’s profitability increases and stands at 40.5% of production value in 2022, the highest regionally. With production value of USD108 million, Saudi Arabia accounts for 39.9% of the Middle East and North Africa total in 2022.
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This Euromonitor industrial report provides unique information on Musical Instruments in Saudi Arabia: 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 Saudi Arabia: 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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