COVID-19 Impacts: Musical Instrument Market Will Accelerate at a CAGR of Almost 3% Through 2020-2024 | Rising Technological Innovations to Boost Growth | Technavio

Technavio has been monitoring the musical instrument market and it is poised to grow by USD 1.17 billion during 2020-2024, progressing at a CAGR of almost 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact

Frequently Asked Questions-

• What was the value of the musical instrument market in 2019?

• Technavio says that the value of the market was USD 8.08 billion in 2019 and is projected to reach USD 9.24 billion by 2024.

• At what rate is the market projected to grow during the forecast period 2020-2024?

• Growing at a CAGR of almost 3%, the market growth will accelerate in the forecast period of 2020-2024.

• What is the key factor driving the market?

• Rising technological innovations is one of the key factors driving the market growth.

• Who are the top players in the market?

• C. F. Martin & Co. Inc. , CASIO COMPUTER CO. LTD., Fender Musical Instruments Corp., Gibson Brands Inc., HOSHINO GAKKI Co. Ltd., Kawai Musical Instruments Manufacturing Co. Ltd., Korg Inc., Roland Corp., Steinway Inc., Yamaha Corp. are some of the major market participants.

• Which region is expected to hold the highest market share?

• North America

• What is a major trend in the market?

• The rising popularity of live performances and concerts is a major growth factor for the market.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. C. F. Martin & Co. Inc. , CASIO COMPUTER CO. LTD., Fender Musical Instruments Corp., Gibson Brands Inc., HOSHINO GAKKI Co. Ltd., Kawai Musical Instruments Manufacturing Co. Ltd. , Korg Inc., Roland Corp., Steinway Inc., and Yamaha Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Rising technological innovations have been instrumental in driving the growth of the market.

Musical Instrument Market 2020-2024: Segmentation

Musical Instrument Market is segmented as below:

• Product
  • String Instruments
  • Piano and Keyboards
  • Drums and Percussion Instruments
  • Others
• Geographic Landscape
  • APAC
  • Europe
  • MEA
  • North America
  • South America

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Musical Instrument Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our musical instrument market report covers the following areas:

• Musical Instrument Market size
• Musical Instrument Market trends
• Musical Instrument Market analysis

This study identifies the rising popularity of live performances and concerts as one of the prime reasons driving the musical instrument market growth during the next few years.

Musical Instrument Market 2020-2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the musical instrument market, including some of the vendors such as C. F. Martin & Co. Inc. , CASIO COMPUTER CO. LTD., Fender Musical Instruments Corp., Gibson Brands Inc., HOSHINO GAKKI Co. Ltd., Kawai Musical Instruments Manufacturing Co. Ltd. , Korg Inc., Roland Corp., Steinway Inc., and Yamaha Corp. Backed with competitive intelligence and benchmarking, our research reports on the musical instrument market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Musical Instrument Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist musical instrument market growth during the next five years
• Estimation of the musical instrument market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the musical instrument market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of musical instrument market vendors

Table of Contents:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product placement
• String instruments - Market size and forecast 2019-2024
• Pianos and keyboards - Market size and forecast 2019-2024
• Drums and percussion instruments - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by Product

Customer Landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Drivers, Challenges, and Trends

• Market drivers
• Volume driver - Demand led growth
• Volume driver - Supply led growth
• Volume driver - External factors
• Volume driver - Demand shift in adjacent markets
• Price driver - Inflation
• Price driver - Shift from lower to higher-priced units
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption
• Vendor Analysis

Vendors covered

• Market positioning of vendors
• C. F. Martin & Co. Inc.
• CASIO COMPUTER CO. LTD.
• Fender Musical Instruments Corp.
• Gibson Brands, Inc.
• HOSHINO GAKKI Co. Ltd.
• Kawai Musical Instruments Manufacturing Co. Ltd.
• Korg Inc.
• Roland Corp.
• Steinway Inc.
• Yamaha Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.