The global electric acoustic guitar strings market is anticipated to grow at a CAGR of 2.8% during the forecast period (2022-2028). The global acoustic string market is expected to witness growth rapidly as demand for guitar and violin strings rises. String manufacturers are working to upgrade their production processes with advanced technologies such as automation in order to make them more sustainable in the face of fierce competition and falling raw material prices. Acoustic strings are a type of musical instrument string that is commonly used to produce sustained sound in instruments such as the guitar, violin, and others. Acoustic strings can be made of any material, but they are most commonly made of steel and silver wires drawn out into specific lengths and thicknesses. When played on the instrument, these two types of wire produce distinct tones.
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Furthermore, the growing sales of guitars across the globe and rising developments of new technology in terms of electric & acoustic guitar strings is anticipated to register growth in the market. Moreover, key players operating in the market are focusing on various initiative and strategies such as regional expansion coupled with business expansion and to remain competitive in the market. For instance, in March 2020, D’Addario & Co., )a manufacturer of strings for musical instruments), has stated that it will directly distributing its products to the Italian dealer network from June 2020. From its office based in Lyon, the company will provide a direct sales and marketing service to Italy.
Due to the obvious large number of music concerts and festivals organised in the region, as well as the presence of key market players, the North America market is expected to hold prominent share in the electric & acoustic guitar strings market. Asia Pacific region, is witnessing fastest growth owing to rising disposable income of individuals, an increase in the number of participant in music concerts and festivals and as music has also become a trend and a hobby for major population in the region, and the growing popularity of guitar in countries such as China and India.
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Competitive Landscape-
Augustine, D’Addario, Dean Markley, DR Strings, Elixir, Ernie Ball, Fender, Gibson, GHS, Martin, and Rorosound, among others.
By Type
- 80/20 Bronze
- Phosphor Bronze
- Silk and Steel
- Others
By Product Type
- Light
- Custom Light
- Extra Light
By Application
- Electric Guitar Strings
- Acoustic Guitar Strings
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Scope of the Report
The research study analyzes the Global Electric Acoustic Guitar Strings industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Global Electric Acoustic Guitar Strings Market Report
1. What was the Global Electric Acoustic Guitar Strings Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of Global Electric Acoustic Guitar Strings Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Global Electric Acoustic Guitar Strings Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the Global Electric Acoustic Guitar Strings market.
- The market share of the Global Electric Acoustic Guitar Strings market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Global Electric Acoustic Guitar Strings market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Global Electric Acoustic Guitar Strings market.
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