Global Guitar Market Outlook, 2020-2024 | Analysis by Product & Geography - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 4, 2019--
The “Guitar Market by Product and Geography - Global Forecast and Analysis 2020-2024” report has been added to ResearchAndMarkets.com’s offering.
This guitar market analysis considers sales from both acoustic and electric guitars. The study also finds the sales of the guitar in APAC, Europe, North America, South America, and MEA.
In 2018, the acoustic segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as high availability and affordability will play a vital role in the acoustic segment to maintain its market position.
Also, this report looks at factors such as growing popularity of music-related leisure activities, celebrity endorsements, and music teaching classes as co-curricular activity in educational institutions. However, long replacement cycle, increasing adoption of music production software, and stringent government regulations on procurement of rosewood may hamper the growth of the guitar industry over the forecast period.
The growing popularity of music-related leisure activities
People from all age groups are gradually adopting music-related leisure activities, such as playing guitar. Many parents are also encouraging their children to adopt music as their career or as an extracurricular activity for their overall development. Moreover, the rising disposable income of people is supporting the adoption of different musical instruments and their enrollment in music classes.
Thus, the growing popularity of music-related leisure activities across the world will lead to the expansion of the global guitar market at a CAGR of almost 3% during the forecast period.
Increasing demand for customized guitars
Guitars made of woods and various other raw materials, such as aircraft-grade aluminum and carbon fiber, are also being customized. Over the last five years, customized products have gained popularity in developed regions, such as the Americas and Europe. Various emerging nations, such as India and China, are also experiencing a surge in demand for customized guitars.
In the premium segment, leading market players offer customized products that are visually appealing and of high quality. The extent of customization can vary from the color of a guitar to its strap and buckles, as well as embroidery. This development is expected to have a positive impact on the overall market growth.
With the presence of several major players, the global guitar market is fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading guitar manufacturers, that include:
Also, the guitar market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY PRODUCT
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/l4iim5
View source version on businesswire.com:https://www.businesswire.com/news/home/20191104005548/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: RETAIL SPECIALTY ENTERTAINMENT MUSIC
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 11/04/2019 09:25 AM/DISC: 11/04/2019 09:25 AM