Market Overview
The global Guitar market was valued at $14.5 billion in 2020 and is expected to grow at a CAGR of 6.0% during the forecast period of 2022-2029, to reach a value of $21.2 billion by 2029. The guitar industry has been growing steadily for the past few years, with a significant increase in both shipments and revenue. This is attributed to the growing popularity of music streaming platforms such as Spotify and Apple Music, which have led to a resurgence in interest in musical instruments globally. In addition, the rise of social media platforms such as YouTube and Instagram has given a platform to aspiring musicians to showcase their talents to a wider audience, which has also contributed to the growth of the guitar market.
There are many different types of guitars that are in demand globally. Acoustic guitars, electric guitars, and classical guitars are some of the most popular types. Each type has its own unique features and benefits that make it desirable to guitarists.
Acoustic guitars are a popular choice for many guitarists because they are versatile and can be used for a variety of genres. They are also relatively easy to play, making them a good option for beginners. Electric guitars are another popular choice, especially among rock and blues guitarists. They offer a unique sound that can be customized with different amplifiers and effects pedals. Classical guitars are often used by students or professional musicians who play classical or flamenco music. They typically have nylon strings which produce a softer sound than other types of guitars.
New technologies that are impacting the Guitar market
Innovation in technology is a major driver of market growth in the guitar industry. New technologies are continuously being developed that impact the way guitars are manufactured, marketed, and sold. For example, digital technology has revolutionized the way guitars are made, with many manufacturers now using computer-aided design (CAD) and computer-aided manufacturing (CAM) to create their products. This has led to increased efficiency and accuracy in guitar production, as well as greater customization options for consumers. Additionally, online tools such as social media and online retail platforms have changed the way guitars are marketed and sold, making it easier than ever for consumers to find the perfect instrument.
The global Guitar market is expected to grow in the coming years as the popularity of music streaming services continues to rise. This is good news for guitar manufacturers and retailers, as this growth is expected to lead to increased sales of guitars and related products.
There are several reasons why the global guitar market is forecast to grow in the coming years. Firstly, music streaming services such as Spotify and Apple Music are becoming increasingly popular, which is leading to more people listening to music on a daily basis. This means that there is a growing demand for guitars and other musical instruments, as people want to be able to play their favorite songs.
Secondly, the number of people attending live music concerts and festivals is also on the rise. This is another key factor driving growth in the guitar market, as people want to be able to play their favorite songs when they are at these events.
Thirdly, many celebrities and social media influencers are now endorsing guitars and other musical instruments, which is helping to raise awareness of these products and generate interest among potential customers.
Finally, the prices of guitars and related products have come down significantly in recent years, making them more affordable for a wider range of people. This has helped boost sales of these items, as more people are now able to afford them.
All of these factors combined are expected to lead to strong growth in the global guitar market in the coming years. So if you are thinking about starting a business selling guitars
Covid-19 Impact on Guitar Market:
Consumers across the globe are adjusting to the new normal and there is a noteworthy discrepancy in consumer behavior. Consumers' purchasing habits, behavior, and attitudes have changed in light of COVID-19. People are shopping very consciously and are majorly centered on basic needs and are buying locally. Consumers are using digital commerce to play, learn, and connect to manage isolation and follow social distancing policy. The covid-19 has consistently impacted the shopping behavior of 9 in 10 consumers. Nearly 30-50 percent of consumers have shifted towards online shopping from March 2020 to December 2020.
Report Includes
An overview of the global Guitar market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2029. It also includes breakdowns of the overall Guitar market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the Guitar market and comprehensive profiles of leading companies in the industry
Report Scope
The report forecasts the size of the Guitar market for components from 2022 through 2029
The Executive Summary provides a snapshot of the key findings of the report. The introduction chapter includes the research scope, market segmentation, research methodology, and definitions and assumptions. It involves extremely rigorous scientific methods, tools, and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with industry experts and professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, the latest technological advancement, regulatory landscape, SWOT analysis, and porters five forces analysis. This chapter provides detailed insights of market which derives the market trends, changing phase of investments, scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes the profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, data triangulation and market breakdown procedures is being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
Segmentation Analysis:
Guitars are one of the most popular instruments in the world, enjoyed by musicians of all genres and levels of experience. This growth is being driven by a number of factors, including the increasing popularity of music streaming services, the rise of social media platforms like YouTube and Instagram, and the growing popularity of guitar-based video games like Guitar Hero and Rock Band.
There are a wide variety of guitar types on the market, from acoustics and electrics to classical and flamenco guitars. Acoustic guitars are the most popular type of guitar, accounting for around 60% of all sales. Electric guitars are also popular, particularly among rock and metal musicians. Classical and flamenco guitars are less common, but still have a significant presence in the market.
The global guitar market is highly competitive, with a large number of manufacturers offering a wide range of products. The leading companies in the market include Gibson, Fender, Yamaha, Ibanez, PRS Guitars, and Epiphone. These companies hold significant shares in the overall market due to their strong brand recognition and extensive product portfolios.
Global Guitar Market Competitive Analysis:
Key players in the Global Guitar market are
Gibson Brands
Karl Höfner
PRS Guitars
Yamaha
B.C. Rich Guitars
C.F. Martin
Carvin
Cort, D’Addario
Dean Guitars
ESP
G&L Musical Instruments
Godin
Ibanez
Rickenbacker
Samick Musical Instruments
Schecter Guitar Research
Taylor
Fender Musical Instruments
Others and among other players.
*All our reports are customizable as per customer requirements
This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2029. The global Guitar market is distributed on the basis of the below-mentioned segments:
Global Guitar Market, By type:
The global Guitar market was valued at $14.5 billion in 2020 and is expected to grow at a CAGR of 6.0% during the forecast period of 2022-2029, to reach a value of $21.2 billion by 2029. The guitar industry has been growing steadily for the past few years, with a significant increase in both shipments and revenue. This is attributed to the growing popularity of music streaming platforms such as Spotify and Apple Music, which have led to a resurgence in interest in musical instruments globally. In addition, the rise of social media platforms such as YouTube and Instagram has given a platform to aspiring musicians to showcase their talents to a wider audience, which has also contributed to the growth of the guitar market.
There are many different types of guitars that are in demand globally. Acoustic guitars, electric guitars, and classical guitars are some of the most popular types. Each type has its own unique features and benefits that make it desirable to guitarists.
Acoustic guitars are a popular choice for many guitarists because they are versatile and can be used for a variety of genres. They are also relatively easy to play, making them a good option for beginners. Electric guitars are another popular choice, especially among rock and blues guitarists. They offer a unique sound that can be customized with different amplifiers and effects pedals. Classical guitars are often used by students or professional musicians who play classical or flamenco music. They typically have nylon strings which produce a softer sound than other types of guitars.
New technologies that are impacting the Guitar market
Innovation in technology is a major driver of market growth in the guitar industry. New technologies are continuously being developed that impact the way guitars are manufactured, marketed, and sold. For example, digital technology has revolutionized the way guitars are made, with many manufacturers now using computer-aided design (CAD) and computer-aided manufacturing (CAM) to create their products. This has led to increased efficiency and accuracy in guitar production, as well as greater customization options for consumers. Additionally, online tools such as social media and online retail platforms have changed the way guitars are marketed and sold, making it easier than ever for consumers to find the perfect instrument.
The global Guitar market is expected to grow in the coming years as the popularity of music streaming services continues to rise. This is good news for guitar manufacturers and retailers, as this growth is expected to lead to increased sales of guitars and related products.
There are several reasons why the global guitar market is forecast to grow in the coming years. Firstly, music streaming services such as Spotify and Apple Music are becoming increasingly popular, which is leading to more people listening to music on a daily basis. This means that there is a growing demand for guitars and other musical instruments, as people want to be able to play their favorite songs.
Secondly, the number of people attending live music concerts and festivals is also on the rise. This is another key factor driving growth in the guitar market, as people want to be able to play their favorite songs when they are at these events.
Thirdly, many celebrities and social media influencers are now endorsing guitars and other musical instruments, which is helping to raise awareness of these products and generate interest among potential customers.
Finally, the prices of guitars and related products have come down significantly in recent years, making them more affordable for a wider range of people. This has helped boost sales of these items, as more people are now able to afford them.
All of these factors combined are expected to lead to strong growth in the global guitar market in the coming years. So if you are thinking about starting a business selling guitars
Covid-19 Impact on Guitar Market:
Consumers across the globe are adjusting to the new normal and there is a noteworthy discrepancy in consumer behavior. Consumers' purchasing habits, behavior, and attitudes have changed in light of COVID-19. People are shopping very consciously and are majorly centered on basic needs and are buying locally. Consumers are using digital commerce to play, learn, and connect to manage isolation and follow social distancing policy. The covid-19 has consistently impacted the shopping behavior of 9 in 10 consumers. Nearly 30-50 percent of consumers have shifted towards online shopping from March 2020 to December 2020.
Report Includes
An overview of the global Guitar market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2029. It also includes breakdowns of the overall Guitar market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the Guitar market and comprehensive profiles of leading companies in the industry
Report Scope
The report forecasts the size of the Guitar market for components from 2022 through 2029
The Executive Summary provides a snapshot of the key findings of the report. The introduction chapter includes the research scope, market segmentation, research methodology, and definitions and assumptions. It involves extremely rigorous scientific methods, tools, and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with industry experts and professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, the latest technological advancement, regulatory landscape, SWOT analysis, and porters five forces analysis. This chapter provides detailed insights of market which derives the market trends, changing phase of investments, scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes the profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, data triangulation and market breakdown procedures is being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
Segmentation Analysis:
Guitars are one of the most popular instruments in the world, enjoyed by musicians of all genres and levels of experience. This growth is being driven by a number of factors, including the increasing popularity of music streaming services, the rise of social media platforms like YouTube and Instagram, and the growing popularity of guitar-based video games like Guitar Hero and Rock Band.
There are a wide variety of guitar types on the market, from acoustics and electrics to classical and flamenco guitars. Acoustic guitars are the most popular type of guitar, accounting for around 60% of all sales. Electric guitars are also popular, particularly among rock and metal musicians. Classical and flamenco guitars are less common, but still have a significant presence in the market.
The global guitar market is highly competitive, with a large number of manufacturers offering a wide range of products. The leading companies in the market include Gibson, Fender, Yamaha, Ibanez, PRS Guitars, and Epiphone. These companies hold significant shares in the overall market due to their strong brand recognition and extensive product portfolios.
Global Guitar Market Competitive Analysis:
Key players in the Global Guitar market are
Gibson Brands
Karl Höfner
PRS Guitars
Yamaha
B.C. Rich Guitars
C.F. Martin
Carvin
Cort, D’Addario
Dean Guitars
ESP
G&L Musical Instruments
Godin
Ibanez
Rickenbacker
Samick Musical Instruments
Schecter Guitar Research
Taylor
Fender Musical Instruments
Others and among other players.
*All our reports are customizable as per customer requirements
This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2029. The global Guitar market is distributed on the basis of the below-mentioned segments:
Global Guitar Market, By type:
- Solid Body
- Semi-Hollow Body
- Hollow Body
- Others
- Individual Amateurs
- Learning and Training
- Professional Performance
- Others
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
GUITAR MARKET STUDY GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2022-2029
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Guitar Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Segment 1
- 5.2.1. Sub-Segment 1
- 5.2.2. Sub-Segment 2
- 5.3. Market Analysis, Insights and Forecast – By Segment 2
- 5.3.1. Sub-Segment 1
- 5.3.2. Sub-Segment 2
- 5.3.3. Sub-Segment 3
- 5.3.4. Others
- 5.4. Market Analysis, Insights and Forecast – By Segment 3
- 5.4.1. Sub-Segment 1
- 5.4.2. Sub-Segment 2
- 5.4.3. Sub-Segment 3
- 5.4.4. Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Latin America
- 5.5.3. Europe
- 5.5.4. Asia Pacific
- 5.5.5. Middle East and Africa
6. North America Guitar Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Segment 1
- 6.2.1. Sub-Segment 1
- 6.2.2. Sub-Segment 2
- 6.3. Market Analysis, Insights and Forecast – By Segment 2
- 6.3.1. Sub-Segment 1
- 6.3.2. Sub-Segment 2
- 6.3.3. Sub-Segment 3
- 6.3.4. Others
- 6.4. Market Analysis, Insights and Forecast – By Segment 3
- 6.4.1. Sub-Segment 1
- 6.4.2. Sub-Segment 2
- 6.4.3. Sub-Segment 3
- 6.4.4. Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Latin America Guitar Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Segment 1
- 7.2.1. Sub-Segment 1
- 7.2.2. Sub-Segment 2
- 7.3. Market Analysis, Insights and Forecast – By Segment 2
- 7.3.1. Sub-Segment 1
- 7.3.2. Sub-Segment 2
- 7.3.3. Sub-Segment 3
- 7.3.4. Others
- 7.4. Market Analysis, Insights and Forecast – By Segment 3
- 7.4.1. Sub-Segment 1
- 7.4.2. Sub-Segment 2
- 7.4.3. Sub-Segment 3
- 7.4.4. Others
- 7.5. Insights and Forecast – By Country
- 7.5.1. Brazil
- 7.5.2. Mexico
- 7.5.3. Rest of Latin America
8. Europe Guitar Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Segment 1
- 8.2.1. Sub-Segment 1
- 8.2.2. Sub-Segment 2
- 8.3. Market Analysis, Insights and Forecast – By Segment 2
- 8.3.1. Sub-Segment 1
- 8.3.2. Sub-Segment 2
- 8.3.3. Sub-Segment 3
- 8.3.4. Others
- 8.4. Market Analysis, Insights and Forecast – By Segment 3
- 8.4.1. Sub-Segment 1
- 8.4.2. Sub-Segment 2
- 8.4.3. Sub-Segment 3
- 8.4.4. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. UK
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Russia
- 8.5.7. Rest of Europe
9. Asia Pacific Guitar Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Segment 1
- 9.2.1. Sub-Segment 1
- 9.2.2. Sub-Segment 2
- 9.3. Market Analysis, Insights and Forecast – By Segment 2
- 9.3.1. Sub-Segment 1
- 9.3.2. Sub-Segment 2
- 9.3.3. Sub-Segment 3
- 9.3.4. Others
- 9.4. Market Analysis, Insights and Forecast – By Segment 3
- 9.4.1. Sub-Segment 1
- 9.4.2. Sub-Segment 2
- 9.4.3. Sub-Segment 3
- 9.4.4. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. China
- 9.5.2. India
- 9.5.3. Japan
- 9.5.4. Australia
- 9.5.5. South East Asia
- 9.5.6. Rest of Asia Pacific
10. Middle East & Africa Guitar Market Analysis (USD Billion), Insights and Forecast, 2018-2029
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Segment 1
- 10.2.1. Sub-Segment 1
- 10.2.2. Sub-Segment 2
- 10.3. Market Analysis, Insights and Forecast – By Segment 2
- 10.3.1. Sub-Segment 1
- 10.3.2. Sub-Segment 2
- 10.3.3. Sub-Segment 3
- 10.3.4. Others
- 10.4. Market Analysis, Insights and Forecast – By Segment 3
- 10.4.1. Sub-Segment 1
- 10.4.2. Sub-Segment 2
- 10.4.3. Sub-Segment 3
- 10.4.4. Others
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. GCC
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.3.1. Company 1
- 11.3.1.1. Business Overview
- 11.3.1.2. Segment 1 & Service Offering
- 11.3.1.3. Overall Revenue
- 11.3.1.4. Geographic Presence
- 11.3.1.5. Recent Development
- 11.3.2. Company 2
- 11.3.3. Company 3
- 11.3.4. Company 4
- 11.3.5. Company 5
- 11.3.6. Company 6
- 11.3.7. Company 7
- 11.3.8. Company 8
- 11.3.9. Company 9
- 11.3.10. Company 10
- 11.3.11. Company 11
- 11.3.12. Company 12
- 11.3.1. Company 1
Research Process
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
