Who is Driving the Growth in the Musical Instruments Industry?

Musical Instruments Industry Data Book – Stringed, Percussion, Wind and Keyboard Instruments Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 – 2030

The global Musical Instruments Industry was estimated at USD 14,117.9 million in 2022 and is expanding at a significant CAGR of 7.3% from 2023 to 2030, according to a new report by Grand View Research, Inc.

Grand View Research’s musical instruments industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.

Access the Global Musical Instruments Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Stringed Instruments Market Growth & Trends

The global Stringed Instruments Market size is anticipated to reach a CAGR of 7.4% over the forecast period, according to a new report by Grand View Research, Inc. The stringed instruments market held the largest market share in the overall musical instruments market. This growth is primarily driven by the increased sales of electric guitars. Electric guitars have gained immense popularity among musicians and enthusiasts for their distinct and versatile sound, well-suited for various music genres such as rock, pop, blues, and jazz. The unique tonal characteristics and the ability to manipulate sound using effects pedals and amplifiers have made electric guitars essential in modern music production. These factors have significantly contributed to the sales of electric guitars, thereby driving the overall stringed instruments market’s growth.

Stringed instruments offer a wide range of tonal possibilities and can be used in various music genres and styles, from classical to rock, folk to jazz. Guitars, violins, cellos, and ukuleles are found in diverse musical landscapes. Their versatility attracts musicians from different backgrounds, expanding the market reach of these instruments and driving growth.

Moreover, technological advancements have played a significant role in the growth of stringed instruments. Innovations in manufacturing processes, materials, and instrument design have improved the quality, playability, and durability of these instruments. Additionally, advancements in amplification and sound processing technologies have enhanced the capabilities and versatility of electric and acoustic-electric stringed instruments, making them more appealing to a broader range of musicians.

Stringed Instruments Market Share, by Product, 2022 (%)

Order your copy of the Free Sample of “Musical Instruments Industry Data Book – Stringed, Percussion, Wind and Keyboard Instruments Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Keyboard Instruments Market Growth & Trends

The global Keyboard Instruments Market size is anticipated to register a CAGR of 7.5% over the forecast period, according to a new report by Grand View Research, Inc. Advancements in technology have revolutionized the keyboard instruments market. Digital keyboards now offer a wide range of features, including realistic piano sounds, multiple instrument voices, recording capabilities, and built-in learning tools. These technological advancements have made keyboards more accessible and appealing to beginners and professionals alike, contributing to market growth.

The availability of learning resources and educational programs has contributed to the increased demand for keyboard instruments. Many music schools and online platforms offer comprehensive courses and tutorials tailored for beginners, making it easier for aspiring musicians to start their learning with keyboards. Additionally, music stores often organize workshops and demo sessions to engage potential buyers and assist them in making informed decisions about their instrument purchase, thereby driving the keyboard instruments market. For instance, in April 2022, the National Keyboard Studies Programme announced an initiative that offers school children in the UK the opportunity to learn melodica. This program aims to provide low-cost music education to children by utilizing this inexpensive and low-maintenance instrument.

Go through the table of content of Musical Instruments Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Musical Instruments Industry are:

  • F. Martin & Co., Inc.
  • D’addario & Company, Inc.
  • Eastman Music Company
  • Fender Musical Instruments Corporation
  • Kawai Musical Instruments Mfg. Co., Ltd.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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