PUBLISHER: KBV Research | PRODUCT CODE: 1155450
PUBLISHER: KBV Research | PRODUCT CODE: 1155450
The Global Percussion Instruments Market size is expected to reach $1.7 billion by 2028, rising at a market growth of 3.8% CAGR during the forecast period.
The percussion instruments refer to the musical instruments that makes noise by being hit or scraped with a beater. This includes beaters that are attached to or inside the instrument, as well as rattles that are hit, scraped, or rubbed by hand or hit against another similar instrument. Besides the human voice and instruments used by animals, the percussion family is thought to have the oldest instruments.
Being a percussionist isn't easy because one has to practice a lot to hit an instrument with the correct amount of force, in the right place, and at the right time. Some percussion instruments, like the xylophone, timpani, or piano, can sound different notes, while others, like the bass drum, cymbals, or castanets, don't have a specific pitch. These instruments keep the beat, make interesting sounds, and add color and excitement. Unlike most of the other musicians in the orchestra, a percussionist usually plays many different instruments inside one piece of music. The timpani, cymbals, bass drum, triangle, xylophone, snare drum, maracas, celesta, tambourine, gongs, chimes, and piano are a few of the most widely known percussion instruments in an orchestra.
The important factor that is acting as a primary driving force in the demand for percussion instruments is the rising popularity of live musical performances and concerts. Live music performances are becoming increasingly popular as audiences are no longer satisfied with merely listening to recorded music or seeing music videos on television. In addition, the increasing prevalence of social media platforms like Facebook, Instagram, and YouTube as well as developments in audio technology are contributing to the surge in demand for live musical performances and concerts.
COVID-19 Impact Analysis
Though, the market has faced a decline in sale of percussion instrument in the initial days, due to the closure of retail shops and restriction over the musical concerts in various nations. A stunning reaction was seen by the total value of the worldwide market cap when it was exposed to the virus. During the pandemic, there was a significant increase in the number of musical instruments that were purchased via the internet, as indicated by a large number of official records. Owing to all this the market for percussion instruments has benefited from the outspread of COVID-19.
Market Driving Factors
Growing popularity of live music events
The younger age now includes a significantly greater proportion of music lovers, which is helping to fuel the rise in demand for live concerts. The number of DJs and artists worldwide has consequently increased dramatically. Live events are also being staged more frequently in hotels, restaurants, social gatherings, and shopping centers. Additionally, mobile ticket purchases enable in-app advertising, which is more affordable than conventional forms of advertising. This rising popularity of live concerts would result in increasing the demand for percussion instruments market during the forecast period.
Growing sale from e-commerce channels
It is projected that a rapid increase in the sale of music instruments through online means of distribution, such as pianos, guitars, and other percussion instruments, will present considerable prospects to makers and distributors of music instruments all over the world. The makers and suppliers of music instruments offer their wares on the websites of both their own companies and on e-commerce platforms located in every region of the world. In addition, businesses are engaging in promotional activities and conducting advertising campaigns across a variety of social media platforms and internet portals in an effort to broaden the availability of their wares in new regions.
Market Restraining Factors
Increasing piracy worldwide
The act of making unauthorized copies of original content and then distributing those copies across many platforms is referred to as piracy. The expansion of the music industry is being hampered by the rising rate of content piracy that is occurring all around the world. There are some individuals that duplicate the material in order to save money on the expenses associated with it. The market is kept under check by the presence of this factor. Therefore, piracy has many different repercussions on many different identities.
On the basis of type, the percussion instruments market is segmented into traditional and electronic. In 2021, the traditional segment dominated the percussion instruments market with the highest revenue share. Some people like to play traditional instruments because they sound more like real instruments. Traditional instruments are becoming more popular among both beginners and professionals. This is because there are more live concerts and more music channels on social media which is anticipated to support the market growth in this segment.
Based on application, the percussion instruments market is fragmented into professional, amateur and educational. The educational segment covered a substantial revenue share percussion instruments market in 2021. The segment is growing because the number of music schools is going up and more & more kids are getting music instruments. The demand is being fueled by the help that manufacturing companies give to music schools, the growing interest in starting new music schools, and online support for the same.
Region wise, the percussion instruments market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the North America region led the percussion instruments market by generating the largest revenue share. There are a lot of people who love music, a big music industry, a lot of people with high purchasing power, a lot of top-performing brands, and a growing number of live music concerts. All of these things may lead to more people wanting to buy percussion instruments and contributing to the regional market growth.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Yamaha Corporation (Menchey Music Service, Inc.), Roland Corporation, Conn-Selmer, Inc. (Steinway Musical Instruments, Inc.), KHS Musical Instruments, D'Addario & Company, Inc., inMusic Brands, Inc., Remo Inc., Australis Music Group Pty Ltd (Ashton Music), Pearl Musical Instrument Co., and Walberg and Auge Inc.
Strategies deployed in Percussion Instruments Market
Oct-2022: Majestic came into a partnership with The Percussion Conservatory, an education platform. This partnership aimed at making a career in percussion more accessible for passionate musicians across the globe. Also, through the partnership, the Percussion Conservatory would expand its platform & creating online percussion courses featuring majestic instruments.
Sep-2022: Roland Corporation signed an agreement to acquire Drum Workshop, an American drum kit, and hardware manufacturing company. The acquisition would allow the new generation of breakthrough acoustic & electronic drums and percussion products, accelerate product development, and lead to more innovation for drummers.
Aug-2022: Conn-Selmer collaborated with Steinway & Sons, a German-American piano company. Under this collaboration, the companies would introduce three scholarships; The Bach Brass Scholarship, The Ludwig Musser Percussion Scholarship, and The Steinway & Sons Jazz Piano Scholarship. These scholarship programs are launched for young jazz musicians studying piano, brass, and percussion at JAZZ HOUSE KiDS.
Jul-2022: Yamaha entered into a partnership with Tomplay, a cross-platform app. With this partnership, Yamaha consumers would get free three-month Premium access to the Tomplay app granting unlimited access to more than 40,000 interactive sheet music titles arranged for 28 different instruments and in all difficulty levels.
May-2022: Conn Selmer came into a partnership with BD Performing Arts, the corporate entity that manages various performance groups. By this partnership, the company focused on serving many educators in the region by providing great resources to support the future growth of music education while providing world-class USA-made instruments in support of their programs.
Apr-2022: Pearl Musical Instrument partnered with Boston Crusaders, a competitive junior drum and bugle corps. Under this partnership, the Boston Crusaders' percussion sections would perform exclusively on Pearl/Adams instruments. The partnership would further enable the Boston Crusaders' high-energy playing style to adopt the latest warm, resonant sound required for their 2022 production.
Mar-2022: Roland released the FANTOM-0 series, a new lineup of synthesizer keyboards for performers, producers, and music creators. This latest series include FANTOM-06, FANTOM-07, and FANTOM-08. The series offers unlimited sound-making possibilities with Roland's ZEN-Core, Super NATURAL, and Virtual Tone Wheel Organ technologies.
Mar-2022: Majestic launched Opus One Orchestral Snare Drum Series. The Opus One Orchestral Snare Drum would be available at authorized majestic retailers. The Majestic Percussion's size ranges from 14×4 to 14×7, the drums are offered in a variety of shell materials that includes cherry, brass, and even cast iron, which is thoughtfully reminiscent of famous vintage "sewer pipe" drums.
Jan-2022: Yamaha unveiled PSR-EW425 & PSR-E-473 Keyboards. The launch has further evolved Yamaha's already highly popular PSR series of portable keyboards. The launch was a result of the success of the previous generation and now offers a large number of the latest features designed to bring even more power, selection, and playing enjoyment to every performance.
Mar-2021: D'ADDARIO took over National Picks. The acquired company would be named National Picks by*D'Addario. D'Addario National Pick offering would include finger picks in Stainless Steel, Brass, and Nickel.
Jan-2021: D'Addario completed the acquisition of Super-Sensitive Musical String Company. The acquisition would improve the options D'Addario*could provide educators & students, that includes Red Label, a legacy brand in the orchestral, student string market. Furthermore, the acquisition would enable D'Addario to include Red Label as well as other Super-Sensitive products as part of their global distribution network.
Apr-2020: InMusic acquired BFD, a revolutionary acoustic drum software instrument, empowering musicians, composers, and engineers with studio-quality, multi-channel drums. With this acquisition, BFD continues to release an ever-rising library of expansion packs, cementing this software instrument as the world's largest collection of acoustic drum samples and the most flexible & feature-packed software drum solution.
Market Segments covered in the Report:
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List of Figures