Musical Instruments Market Size

Musical Instruments Market Size

The global musical instruments market size was valued at USD 47.5 billion in 2024 and is estimated to grow at a CAGR of 7% from 2025 to 2034. The growing popularity of live concerts and performances has boosted the industry. As live shows cover many music genres, there is a higher demand for quality instruments and performance gear.

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Musicians, both experienced and new, need various instruments like guitars, drums, keyboards, and amplifiers for their stage shows. More live events, such as music festivals and global tours, require advanced sound equipment and instruments to improve the concert experience. The rise in music festivals also increases the need for top-quality instruments, as event organizers must set up stages for large crowds. The love for live music has inspired many to learn to play instruments, increasing sales from beginner to professional levels.
 

Additionally, the expansion in live streaming of concerts has sparked more interest in musical instruments, with fans often wanting to play themselves. Collaborations between artists and musical instrument brands, often through endorsements, further boost industry progression, as fans buy the same instruments their favorite performers use. After the pandemic, the return of large live events has also increased the demand for musical instruments, as artists and event organizers invest in new gear for performances.