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Musical Instruments Market Trends

  • Report ID: GMI12713
  • Published Date: Dec 2024
  • Report Format: PDF

Musical Instruments Market Trends

The growing number of music enthusiasts is driving the expansion of the market. As more users get interested in music through streaming services and social media, they want to learn how to play instruments. This has led to an increase in both amateur and professional musicians, boosting demand for various instruments like guitars, keyboards, drums, and more specialized options. Online courses, tutorials, and music schools have made music education more accessible, encouraging users to improve their skills and buy instruments.
 

The popularity of different music genres and instruments, from electronic music tools to vintage guitars, has attracted a wider range of consumers. Affordable instruments at various price points have also helped more enthusiasts pursue their musical interests. As a result, the growing number of music lovers worldwide continues to increase the demand for musical instruments.
 

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global musical instruments industry was valued at USD 47.5 billion in 2024 and is projected to grow at a 7% CAGR from 2025 to 2034, driven by the increasing popularity of live concerts and performances.

The Parts & Accessories segment generated USD 22.77 billion in 2024 and is expected to reach USD 45.57 billion by 2034, fueled by rising demand for replacement parts and performance-enhancing accessories.

The U.S. accounted for 53.5% of the North American musical instruments market in 2024 and is anticipated to grow at a 7.4% CAGR during the forecast period, supported by its diverse music culture and high demand for instruments across genres like rock, jazz, pop, and classical.

Key players in the industry include Casio, Cort, Focusrite, Fender, Gibson, Granada, Ibanez, Kawai, Pearl, Pluto, QRS Music, Roland, Samick, Steinway, and Yamaha.

Musical Instruments Market Scope

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Premium Report Details

  • Base Year: 2024
  • Companies covered: 15
  • Tables & Figures: 397
  • Countries covered: 18
  • Pages: 230
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