Key players in the musical instrument market are Casio Computer Co. Ltd., CF Martin & Co. Inc, D’addario & Company Inc., Eastman Music Company, Fender Musical Instruments Corporation, and Kawai Musical Instruments Mfg.
New York, July 6. 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Musical Instruments Global Market Report 2022” – https://www.reportlinker.com/p06290025/?utm_source=GNW
Co. Ltd., Steinway & Sons, Yamaha Corporation, Yanagisawa Wind Instruments Co., Ltd., Roland Corporation, Guangzhou Pearl River Piano Group Ltd., HMI Guitars, Cort, Gibson Brands Inc. and Hoshino Gakki Co. Ltd.
The global musical instruments market is expected to grow from $12.95 billion in 2021 to $13.25 billion in 2022 at a compound annual growth rate (CAGR) of 2.3%. The musical instruments market is expected to reach $14.54 billion in 2026 at a CAGR of 2.4%.
The musical instrument market consists of the sale of musical instrument devices by entities (organizations, sole proprietorships, partnerships) established to produce musical sound. Musical instruments create sound through vibration and most instruments are tuned to produce a range of sounds of particular frequencies called notes.
The main types of musical instruments are strings, brass and woodwinds, percussion, and keyboard. Stringed musical instruments produce sound using vibrating strings.
The most common stringed instruments in the string family are guitar, electric bass, violin, viola, cello, double bass, banjo, mandolin, ukulele, and harp. The various distribution channels for musical instruments include supermarkets/hypermarkets, specialty stores and the online sales channel.
Asia-Pacific was the largest region in the musical instruments market in 2021. Regions covered in the musical instruments market report are Asia-Pacific, Western Europe, Eastern Europe East, North America, South America, the Middle East and Africa.
The Musical Instruments Market research report is one of a series of new reports that provide statistics on the Musical Instruments market, including the global market size of the Musical Instruments industry, regional shares, competitors holding Musical Instrument market share, detailed Musical Instrument market segments, market trends and opportunities. , and any other data you may need to thrive in the musical instrument industry. This Musical Instruments Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increase in popularity of live musical performances and concerts is driving the growth of the musical instruments market. Live musical performances and concerts are a musical engagement that helps to improve mood, stimulate emotions, stay healthy and socialize.
Live performances and concerts bring people together and unite a group with similar musical tastes and experiences to connect with artists. For example, according to live music discovery and ticket buying app, Bandsintown, the number of tickets sold in January 2022 was twice as many as 2019.
It is around 100% gross in 2022 compared to January 2019. So, the increase in the number of live music performances has increased the demand for musical instruments.
Technological advancement is the key trend gaining popularity in the musical instrument market. For example, in April 2021, Casio computer company ltd, a Japanese multinational electronics manufacturing company, launched Casiotone CT-S1, a digital keyboard designed with the concept of making music anytime, anywhere.
The main goal is to develop Casiotone digital keyboards suitable for various needs and situations. This keyboard is specially designed for adult users who are interested in creating music in their daily life.
It’s made up of a row of keys, built-in speakers, and a limited section of buttons that serve to blend in with the user’s lifestyles.
In November 2021, Fender Musical Instruments Corporation (FMIC), a musical instrument manufacturing company, acquired PreSonus Audio Electronics, Inc. for an undisclosed amount. With this acquisition, both companies will expand their product portfolio of pro and pro-summer audio equipment. PreSonus Audio Electronics, Inc. is an American manufacturer of professional audio equipment and software used to create, record, mix, and master music and other audio.
The countries covered in the Musical Instruments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
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