Musical Instrument Market to Grow by USD 807.99 Million | 2.11% year-over-year growth in 2021
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries; however, the immediate impact of the epidemic is varied. While a few industries will see lower demand, many others will remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the musical instrument market.
Frequently Asked Questions:
- Based on the segmentation by product, which segment is the market leader?
String instruments are the leading segment of the market.
- What is the major trend in the market?
The growing popularity of online stores is the major trend in the market.
- How fast should the market grow?
The market will accelerate at a CAGR of over 2.20%.
- Who are the main players in the market?
CF Martin & Co. Inc., Casio Computer Co. Ltd., Fender Musical Instruments Corp., Gibson Brands Inc., HOSHINO GAKKI Co. Ltd., Kawai Musical Instruments Mfg. Co. Ltd., KORG Inc., Roland Corp. , Steinway Inc., Yamaha Corp. are the main players in the market.
- What are the main drivers and challenges of the market?
The market is driven by the growing popularity of live musical performances and concerts. However, the high penetration of mobile devices will hamper growth.
- What is the size of the North American market?
40% of market growth will come from North America during the forecast period.
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The market is fragmented and the degree of fragmentation will accelerate during the forecast period. CF Martin & Co. Inc., Casio Computer Co. Ltd., Fender Musical Instruments Corp., Gibson Brands Inc., HOSHINO GAKKI Co. Ltd., Kawai Musical Instruments Mfg. Co. Ltd., KORG Inc., Roland Corp. , Steinway Inc. and Yamaha Corp. are some of the major players in the market. While the growing popularity of live music performances and concerts will provide immense growth opportunities, the high penetration of mobile devices is likely to pose a challenge for market vendors. With the aim of helping players to strengthen their presence in the market, this Musical Instrument Market forecast report provides a detailed analysis of major vendors in the market. The report also gives industry leaders insight into the competitive landscape and insight into the various product offerings offered by various companies.
Technavio’s custom research reports offer detailed information on the impact of COVID-19 at the industry level, regional level, and subsequent supply chain operations. This personalized report will also help customers track new product launches in direct and indirect markets related to COVID-19, upcoming vaccines and pipeline analysis, and important developments in supplier operations and government regulations. .
Musical Instruments Market 2021-2025: Segmentation
The musical instruments market is segmented as follows:
- String instruments
- Pianos and keyboards
- Drums and percussion
- North America
- South America
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Musical Instruments Market 2021-2025: Scope
Technavio presents a detailed picture of the market through the study, synthesis and summation of data from multiple sources. The musical instruments market report covers the following areas:
- Musical Instrument Market Size
- Musical Instrument Market Trends
- Industry Analysis of the Musical Instrument Market
This study identifies the growing popularity of online stores as one of the major reasons for the growth of the musical instrument market over the next few years.
Technavio offers three forecast scenarios (optimistic, probable and pessimistic) given the impact of COVID-19. Technavio’s extensive research has had a direct and indirect impact on COVID-19 market research reports.
Musical Instrument Market 2021-2025: Highlights
- Market CAGR during the forecast period 2021-2025
- Detailed information on the factors that will contribute to the growth of the Musical Instrument Market over the next five years.
- Estimated Musical Instrument Market Size and Its Contribution to Parent Market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the musical instruments market through North America, Europe, APAC, South America, and MEA
- Market competitive landscape analysis and detailed supplier information
- Complete details about the factors that will challenge the growth of the Musical Instrument Market vendors.
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market Outlook: Forecast for 2020 – 2025
Five forces analysis
- Summary of the five forces
- The bargaining power of buyers
- Bargaining power of suppliers
- The threat of new participants
- The threat of substitutes
- Threat of rivalry
- State of the market
Market segmentation by product
- Market segments
- Comparison by product placement
- String Instruments Market Size and Forecast 2020 – 2025
- Pianos and Keyboards Market Size and Forecast 2020 – 2025
- Drums and Percussion Instruments Market Size and Forecast 2020 – 2025
- Others – Market Size and Forecast 2020 – 2025
- Market opportunity by product
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2020 – 2025
- Europe – Market size and forecast 2020 – 2025
- APAC Market Size and Forecast 2020 – 2025
- South America – Market size and forecast 2020 – 2025
- MEA – Market Size and Forecast 2020 – 2025
- Main leading countries
- Market opportunity by geography
- Volume Driver – Demand-Driven Growth
- Market challenges
- Market trends
- Landscape disturbance
- Covered suppliers
- Positioning of sellers in the market
- CF Martin & Cie inc.
- CASIO COMPUTER CO. LTD.
- Fender Musical Instruments Corp.
- Gibson Inc. brands
- HOSHINO GAKKI Co. Ltd.
- Kawai Musical Instruments Manufacturing Co. Ltd.
- Korg Inc.
- Roland Corp.
- Steinway Inc.
- Yamaha Corp.
- Scope of the report
- Currency conversion rates for US $
- Research methodology
- Abreviations list
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