The global electric guitar market to grow at a CAGR of 3.44% during the period 2016-2020.
Global Electric Guitar Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The launch of new products is on the rise, which is a prominent trend in the market. Vendors are consistently experimenting with product designs to develop new products to cater to the market demand.
According to the report, the rising number of concerts and live performances is a key driver of market growth. Individuals' enthusiasm for music has led to the formation of a many musical bands that frequently perform live in concert. Increased interest in music classes and institutions are also boosting the adoption of musical instruments, including electric guitars.
Further, the report states that the increasing demand for electronic gadgets is a major challenge faced by electric guitar vendors.
The market is divided into the following segments based on end-user