PUBLISHER: The Business Research Company | PRODUCT CODE: 1249012
PUBLISHER: The Business Research Company | PRODUCT CODE: 1249012
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“Musical Instruments Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on musical instruments market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for musical instruments? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The musical instruments market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Companies Mentioned: Casio Computer Co. Ltd.; C.F. Martin & Co. Inc; D'addario & Company, Inc.,; Eastman Music Company; Fender Musical Instruments Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Major players in the musical instruments market are: Casio Computer Co. Ltd., C.F. Martin & Co. Inc., D'addario & Company Inc., Eastman Music Company, Fender Musical Instruments Corporation, and Kawai Musical Instruments Mfg. Co. Ltd., Steinway & Sons, Yamaha Corporation, Yanagisawa Wind Instruments Co., Ltd., Roland Corporation, Guangzhou Pearl River Piano Group Ltd., HMI Guitars, Cort, Gibson Brands Inc., and Hoshino Gakki Co. Ltd.
The global musical instruments market grew from $13.25 billion in 2022 to $13.57 billion in 2023 at a compound annual growth rate (CAGR) of 2.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The musical instruments market is expected to grow to $14.92 billion in 2027 at a CAGR of 2.4%.
The musical instrument market consists of sales of piano, drum, and flute. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
A musical instrument refers to a device for producing a musical sound. Objects such as piano, guitar or drum that we use for playing music are known as musical instruments. Musical instruments create sounds through vibrations and most of the instruments are tuned to make a range of sounds of particular frequencies called as notes.
Asia-Pacific was the largest region in the musical instruments market in 2022. The regions covered in the musical instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of musical instruments are stringed, brass and woodwind, percussion, and keyboard. Stringed musical instruments produce sound using vibrating strings. The most common string instruments in the string family are guitar, electric bass, violin, viola, cello, double bass, banjo, mandolin, ukulele, and harp. The different distribution channel for musical instruments includes supermarkets/hypermarkets, specialty stores, and online sales channel.
The increase in popularity of live musical performances and concerts is driving the growth of the musical instruments market. Live musical performances and concerts are musical engagement that helps improve mood, boosts emotions, stay healthy, and socialize. Live performances and concerts bring people together and unite a group with similar music tastes and experiences to connect with artists. For instance, according to live music discovery and ticket purchasing app, Bandsintown, the number of tickets sold in January 2022 was twice as many as 2019. It's about 100% gross in 2022 compared to January 2019. Thus, the increase in the number of live music performances has raised the demand for musical instruments.
Technological advancements are the key trend gaining popularity in the musical instruments market. For instance, in April 2021, Casio computer company ltd a Japanese multinational electronics manufacturing corporation has launched Casiotone CT-S1, a digital keyboard designed with the concept of making music anytime and anywhere. The main goal is to develop the Casiotone digital keyboards that is suited for various needs and situations. This keyboard is specially designed for adult users interested in music-making in their daily lives. It is made up of a row of keys, built-in speakers, and a limited section of buttons that is used to blend with the user's modes of living.
In November 2021, Fender Musical Instruments Corporation (FMIC), a musical instrument manufacturing company acquired PreSonus Audio Electronics, Inc., for an undisclosed amount. With this acquisition, both the companies will expand their product portfolio of pro and pro-summer audio equipment. PreSonus Audio Electronics, Inc., is an American manufacturer of professional audio equipment and software, used to create, record, mix, and master music and other audio.
The countries covered in the musical instruments market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The musical instrument market research report is one of a series of new reports from The Business Research Company that provides musical instrument market statistics, including musical instrument industry global market size, regional shares, competitors with a musical instrument market share, detailed musical instrument market segments, market trends and opportunities, and any further data you may need to thrive in the musical instrument industry. This musical instrument market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.