Musical Instruments Market Size Expected to Grow by USD 1.55 Million | To increase the popularity of live music performances and concerts to boost market growth

NEW YORK, May 5, 2022 /PRNewswire/ — The “Musical Instruments Market by Product (Stringed Instruments, Pianos & Keyboards, Drums & Percussion Instruments, and Others) and Geography (North America, EuropeACPA, South Americaand Middle East and Africa) – Forecasts and Analysis 2022-2026report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with over 100 Fortune 500 companies for over 16 years.

Technavio has announced its latest market research report titled Musical Instruments Market by Product and Geography – Forecast and Analysis 2022-2026

The difference in potential growth of Musical Instruments market between 2021 and 2026 is $1.55 million, according to the outlook of the market report. The report also identifies the market to witness an acceleration in growth momentum at a CAGR of 3.15% during the forecast period.

To get the exact annual growth variance and annual growth rate, Talk to our analyst.

Key market dynamics:

  • Market driver: the growing popularity of live musical performances and concerts is one of the significant factors fueling the growth of the musical instruments market. A significant increase in the number of concerts and live performances has led to an increased demand for high-tech and high-priced musical instruments. Fan-following musicians and artists have also inspired their followers to buy musical instruments. All these factors are fueling the growth of the musical instruments market.

  • Market Challenge: The high penetration of mobile devices will be a major challenge for the musical instruments market during the forecast period. The growing acceptance of notebooks and cell phones, as well as new Internet technologies, are reducing the consumption of conventional musical instruments. Music apps on smartphones allow consumers to play virtual musical instruments.

Learn more about additional key factors, trends and challenges available with Technavio. Read our sample report!

Key Market Segment Highlights:

The Musical Instruments Market report is segmented by Product (Stringed Instruments, Pianos & Keyboards, Drums & Percussion Instruments, and Others) and Geography (North America, EuropeACPA, South Americaand Middle East and Africa).

  • The stringed instruments segment held the largest market share in 2021. The segment will continue to account for the highest share during the forecast period. The segment can be subdivided into acoustic string instruments and electric string instruments. The acoustic stringed instruments sub-segment is contributing significantly to the growth of the stringed instruments segment, owing to the availability and affordability of these instruments.

  • North America will be the leading region with 42% of the market growth during the forecast period. The United States is the main market for musical instruments in North America. Market growth in this region will be faster than market growth in South America, APAC and MEA regions. The growing demand for live music and entertainment leads to an increase in the number of dance clubs and pubs.

See our sample report for additional information on the contribution of all segments and regional opportunities

Some companies mentioned

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Scope of the musical instruments market

Report cover

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of over 3.15%

Market Growth 2022-2026

$1.55 million

Market structure

Fragmented

Annual growth (%)

2.37

Regional analysis

North America, Europe, APAC, South America, Middle East and Africa

Successful market contribution

North America at 42%

Main consumer countries

United States, Japan, China, United Kingdom and Germany

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

BC Rich Guitars, CF Martin and Co. Inc., Casio Computer Co. Ltd., D Addario and Co. Inc., Fender Musical Instruments Corp., Gibson Brands Inc., HOSHINO GAKKI Co. Ltd., Karl Hofner GmbH and Co .KG, Kawai Musical Instruments Mfg. Co. Ltd., KHS America Inc., KORG Inc., Paul Reed Smith Guitars, QRS Music Technologies Inc., Rickenbacker International Corp., Roland Corp., Schecter Guitar Research Inc., Steinway Inc., Taylor Listug Inc., Yamaha Corp. and Yanagisawa Wind Instruments Co. Ltd.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier Landscape

10 Vendor Analysis

11 Appendix

About Us
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With more than 500 industry analysts, Technavio’s library of reports Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. Technavio’s exploitable market to identify opportunities in existing and potential markets and assess their competitive positions in changing market scenarios.

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Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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