The potential growth difference for the musical instrument market between 2021 and 2026 is USD 1.55 million, as per the market report outlook. The report also identifies the market to witness an accelerating growth momentum at a CAGR of 3.15% during the forecast period.
To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver: The increasing popularity of live musical performances and concerts is one of the significant factors fueling musical instrument market growth. A significant rise in the number of concerts and live performances has resulted in the increased demand for high-tech and high-priced musical instruments. Musicians and artists with high fan followings have also inspired their followers to purchase musical instruments. All these factors fuel the growth of the musical instrument market.
- Market Challenge: The high penetration of mobile devices will be a major challenge for the musical instrument market during the forecast period. The increasing acceptance of notepads and mobile phones, along with novel internet technologies, is reducing the consumption of conventional musical instruments. Music applications on smartphones allow consumers to play virtual musical instruments.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our Sample Report!
Key Market Segment Highlights:
The musical instrument market report is segmented by Product (String instruments, Pianos and keyboards, Drums and percussion instruments, and Others) and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
- The string 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 string instruments sub-segment contributes considerably to the string instruments segment's growth, owing to the easy availability and affordability of these instruments.
- North America will be the leading region with 42% of the market's growth during the forecast period. The US is the key market for musical instruments in North America. Market growth in this region will be faster than the growth of the market in the South American, APAC, and MEA regions.The rising demand for live music and performances is leading to an increase in the number of dance clubs and pubs.
View our sample report for additional insights into the contribution of all the segments and regional opportunities
Some Companies Mentioned
·
- B.C. Rich Guitars
- C. F. 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.
- Yanagisawa Wind Instruments Co. Ltd.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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Musical Instrument Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 3.15% |
Market growth 2022-2026 |
$ 1.55 million |
Market structure |
Fragmented |
YoY growth (%) |
2.37 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key consumer countries |
US, Japan, China, UK, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
B.C. Rich Guitars, C. F. 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 inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 24: Chart on Product - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
- 5.2 Comparison by Product
- Exhibit 26: Chart on Comparison by Product
- Exhibit 27: Data Table on Comparison by Product
- 5.3 String instruments - Market size and forecast 2021-2026
- Exhibit 28: Chart on String instruments - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on String instruments - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on String instruments - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on String instruments - Year-over-year growth 2021-2026 (%)
- 5.4 Pianos and keyboards - Market size and forecast 2021-2026
- Exhibit 32: Chart on Pianos and keyboards - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Pianos and keyboards - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Pianos and keyboards - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Pianos and keyboards - Year-over-year growth 2021-2026 (%)
- 5.5 Drums and percussion instruments - Market size and forecast 2021-2026
- Exhibit 36: Chart on Drums and percussion instruments - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Drums and percussion instruments - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Drums and percussion instruments - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Drums and percussion instruments - Year-over-year growth 2021-2026 (%)
- 5.6 Others - Market size and forecast 2021-2026
- Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)
- 5.7 Market opportunity by Product
- Exhibit 44: Market opportunity by Product ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison
- 7.3 North America - Market size and forecast 2021-2026
- Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 APAC - Market size and forecast 2021-2026
- Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 Japan - Market size and forecast 2021-2026
- Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.10 China - Market size and forecast 2021-2026
- Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.11 UK - Market size and forecast 2021-2026
- Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
- 7.12 Germany - Market size and forecast 2021-2026
- Exhibit 86: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026
9 Vendor Landscape
- 9.2 Vendor landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 94: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 95: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 96: Matrix on vendor position and classification
- 10.3 C. F. Martin and Co. Inc.
- Exhibit 97: C. F. Martin and Co. Inc. - Overview
- Exhibit 98: C. F. Martin and Co. Inc. - Product / Service
- Exhibit 99: C. F. Martin and Co. Inc. - Key news
- Exhibit 100: C. F. Martin and Co. Inc. - Key offerings
- 10.4 Casio Computer Co. Ltd.
- Exhibit 101: Casio Computer Co. Ltd. - Overview
- Exhibit 102: Casio Computer Co. Ltd. - Business segments
- Exhibit 103: Casio Computer Co. Ltd. - Key news
- Exhibit 104: Casio Computer Co. Ltd. - Key offerings
- Exhibit 105: Casio Computer Co. Ltd. - Segment focus
- 10.5 Fender Musical Instruments Corp.
- Exhibit 106: Fender Musical Instruments Corp. - Overview
- Exhibit 107: Fender Musical Instruments Corp. - Product / Service
- Exhibit 108: Fender Musical Instruments Corp. - Key news
- Exhibit 109: Fender Musical Instruments Corp. - Key offerings
- 10.6 Gibson Brands Inc.
- Exhibit 110: Gibson Brands Inc. - Overview
- Exhibit 111: Gibson Brands Inc. - Product / Service
- Exhibit 112: Gibson Brands Inc. - Key news
- Exhibit 113: Gibson Brands Inc. - Key offerings
- 10.7 HOSHINO GAKKI Co. Ltd.
- Exhibit 114: HOSHINO GAKKI Co. Ltd. - Overview
- Exhibit 115: HOSHINO GAKKI Co. Ltd. - Product / Service
- Exhibit 116: HOSHINO GAKKI Co. Ltd. - Key offerings
- 10.8 Kawai Musical Instruments Mfg. Co. Ltd.
- Exhibit 117: Kawai Musical Instruments Mfg. Co. Ltd. - Overview
- Exhibit 118: Kawai Musical Instruments Mfg. Co. Ltd. - Product / Service
- Exhibit 119: Kawai Musical Instruments Mfg. Co. Ltd. - Key offerings
- 10.9 KORG Inc.
- Exhibit 120: KORG Inc. - Overview
- Exhibit 121: KORG Inc. - Product / Service
- Exhibit 122: KORG Inc. - Key offerings
- 10.10 Roland Corp.
- Exhibit 123: Roland Corp. - Overview
- Exhibit 124: Roland Corp. - Product / Service
- Exhibit 125: Roland Corp. - Key offerings
- 10.11 Steinway Inc.
- Exhibit 126: Steinway Inc. - Overview
- Exhibit 127: Steinway Inc. - Product / Service
- Exhibit 128: Steinway Inc. - Key offerings
- 10.12 Yamaha Corp.
- Exhibit 129: Yamaha Corp. - Overview
- Exhibit 130: Yamaha Corp. - Business segments
- Exhibit 131: Yamaha Corp. - Key news
- Exhibit 132: Yamaha Corp. - Key offerings
- Exhibit 133: Yamaha Corp. - Segment focus
11 Appendix
- 11.2 Inclusions and exclusions checklist
- Exhibit 134: Inclusions checklist
- Exhibit 135: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 136: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 137: Research methodology
- Exhibit 138: Validation techniques employed for market sizing
- Exhibit 139: Information sources
- 11.5 List of abbreviations
- Exhibit 140: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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