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Guitar Market by Product and Geography - Global Forecast and Analysis 2020-2024

Guitar Market by Product and Geography - Global Forecast and Analysis 2020-2024

  • October 2019
  • 131 pages
  • ID: 5824495
  • Format: PDF
  • By Infiniti Research Limited

Summary

Table of Contents

Global Guitar Market: About this market
This guitar market analysis considers sales from both acoustic and electric guitars. Our study also finds the sales of the guitar in APAC, Europe, North America, South America, and MEA. In 2018, the acoustic segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as high availability and affordability will play a vital role in the acoustic segment to maintain its market position. Also, our global guitar market report looks at factors such as growing popularity of music-related leisure activities, celebrity endorsements, and music teaching classes as co-curricular activity in educational institutions. However, long replacement cycle, increasing adoption of music production software, and stringent government regulations on procurement of rosewood may hamper the growth of the guitar industry over the forecast period.

Global Guitar Market: Overview
The growing popularity of music-related leisure activities
People from all age groups are gradually adopting music-related leisure activities, such as playing guitar. Many parents are also encouraging their children to adopt music as their career or as an extracurricular activity for their overall development . Moreover, the rising disposable income of people is supporting the adoption of different musical instruments and their enrollment in music classes. Thus, the growing popularity of music-related leisure activities across the world will lead to the expansion of the global guitar market at a CAGR of almost 3% during the forecast period.
Increasing demand for customized guitars
Guitars made of woods and various other raw materials, such as aircraft-grade aluminum and carbon fiber, are also being customized. Over the last five years, customized products have gained popularity in developed regions, such as the Americas and Europe. Various emerging nations, such as India and China, are also experiencing a surge in demand for customized guitars. In the premium segment, leading market players offer customized products that are visually appealing and of high quality. The extent of customization can vary from the color of a guitar to its strap and buckles, as well as embroidery. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape
With the presence of several major players, the global guitar market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading guitar manufacturers, that include C. F. Martin & Co. Inc., Fender Musical Instruments Corp., Gibson Brands, Inc., HOSHINO GAKKI Co. Ltd., Karl Höfner GmbH & Co. KG, Paul Reed Smith Guitars, Rickenbacker International Corp., Schecter Guitar Research Inc., Taylor-Listug Inc., and Yamaha Corp.
Also, the guitar market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

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