The global musical instruments market is anticipated to grow at a considerable CAGR of 4.9% during the forecast period. The increase in popularity of live musical performances and concerts is driving the musical instruments market. The popularity of live music shows is increasing globally, due to which the use of musical instruments is also increasing. People enjoy music festivals and concerts due to the good quality of music and singer. Music festivals, live concerts, and shows are the major source of entertainment for the people. The use of musical instruments such as electric guitar, drum sets are mostly used in the live music shows and concerts for the good quality of music. There are many shows lined up for 2022. For instance, in February 2022, Ultra Music Festival (UMF) has revealed the set times for its flagship Miami festival, which will take place at Bayfront Park around 25-27th March 2022.
Additionally, another factor supporting in the growth of the market is the customization of the musical instrument such as electronic guitars and pianos. Leading market players provide customized products that are of high quality and visually appealing. Customers can personalize their musical instruments in terms of shape and size, design their inlays and guitar necks, and choose between premium exotic and traditional hardwood options through customization. Thus, electronic guitar customization and personalization significantly supported the growth of the musical instruments market. For instance, in August 2021, Heavy Metal Entertainment, Incendium, and Minarik Guitars collaborated to launch limited edition custom electric guitar catering to celebrate the 40th anniversary of the Heavy Metal Film.
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Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Type
- By Distribution
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- including CASIO COMPUTER CO., LTD., C.F. MARTIN & CO. INC., D’Addario & Company, Inc., Eastman Music Company, Fender Musical Instruments Corporation,and others.
Musical Instruments Market Report Segment
By Type
- Stringed
- Brass & Woodwind
- Percussion
- Keyboard
By Distribution
- Online
- Offline
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Musical Instruments Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- in
- Cresurge Pvt.LTd. (KADENCE.IN)
- Guitar Center, Inc.
- HyVibe
- Juârez Musical Instruments
- Kawai Musical Instruments Mfg. Co., Ltd.
- Rhodes Music Ltd.
- Roland Corporation
- Steinway & Sons
- The ONE Music Group
- Yamaha Music India Pvt. Ltd.
- Yanagisawa Wind Instruments Co., Ltd.
- Zivix LLC
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