Market Insights Consumer Toys & Hobby Musical Instruments

Percussion Instruments - Haiti

Haiti

In Haiti, the revenue generated in the Percussion Instruments market in 2024 is approximately US$2m.
This market is expected to grow annually by 3.47%, according to the compounded annual growth rate (CAGR) for the period 2024-2029.
When compared to other countries around Worldwide, in China generates the highest revenue in the Percussion Instruments market, with approximately US$379m in 2024.
In terms of per capita figures, in Haiti, the revenue generated per person in the Percussion Instruments market is approximately US$0.17 in 2024.
Haiti's rich cultural heritage and vibrant music scene have led to a growing demand for traditional Haitian percussion instruments.

Key regions: Worldwide, Asia, China, Indonesia, United Kingdom

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on goods people buy for their leisure activities and hobbies.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use in-house market research, national statistical offices, international institutions, trade associations, third-party studies, and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and household number. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for forecasting the Toys & Hobby market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.