Market Overview:
The global electric piano market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric pianos from households, education institutions, and commercial establishments. Additionally, the growing popularity of acoustic-digital hybrids is also contributing to the growth of this market. However, fluctuations in currency exchange rates and high initial costs are some of the factors restraining the growth of this market. On the basis of type, low end keyboards accounted for a major share of the global electric piano market in 2017. This segment is expected to continue its dominance duringthe forecast period owingto its low cost and easy portability features.
Product Definition:
Electric Piano is an electronic musical instrument that resembles the traditional acoustic piano, but uses electricity to produce sound. Electric pianos are usually played with a keyboard, but they can also be played using pedals like an acoustic piano.
Low End Keyboards:
Low end keyboards are those keyboards that produce low frequencies. The most common types of low-end keyboards used in an electric piano include grand pianos, upright pianos, and spinets. Spinets were the original type of keyboard used for playing popular music; however, they have been largely replaced by the modern piano and synthesizer owing to their limited range and tone quality.
High End Digital Instruments:
High End Digital Instruments are those which have been designed to provide the utmost musicality and accuracy. They are created with precision and they offer a great sound experience to the user. The market for high-end digital instruments is expected to witness significant growth over the forecast period owing to factors such as increasing demand from professional players across different industry verticals, technological advancements in modeling & simulation software coupled with rising consumer preference for realistic playing experience on keyboard electronic piano or keyboards.
Application Insights:
The commercial segment dominated the global electric piano market, accounting for more than 60.0% share of the total revenue in 2017. The growth can be attributed to an increase in the number of pubs, clubs and other live music venues where acoustic pianos are used as accompaniment to singers or bands. In addition, rising demand from various corporate sectors such as hotels and restaurants for live performance by soloists has also been driving the segment growth over recent years.
The household application segment is expected to witness significant growth over the forecast period owing to growing preference among consumers towards keyboards that provide a realistic feel and sound like an acoustic piano without necessitating professional knowledge or skills about music instruments.
Regional Analysis:
North America dominated the global electric piano market in 2017. The region is expected to witness a considerable growth rate of 4.6% over the forecast period, owing to increasing demand for digital pianos from music schools and colleges, as well as homes across U.S., Canada, and Mexico. Furthermore, growing popularity of live concerts and rising number of recording studios are also anticipated to drive product adoption in this region over the next eight years.
Growth Factors:
- Increasing demand for electric pianos from professional musicians and music studios
- Rising popularity of electronic dance music (EDM) and other genres that use electric pianos
- Growing number of amateur musicians who want to learn how to play the electric piano
- Advances in digital technology that have made it easier to create and edit music using electric pianos
- Increased availability of affordable electric pianos, thanks to advancements in manufacturing technology
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Piano Market Research Report
By Type
Low End Keyboards, High End Digital Instruments, Acoustic-Digital Hybrids
By Application
Household, Education, Commercial
By Companies
Casio, Yamaha, Roland, Korg, Young Chang, Clavia, Kawai, Williams, Kurzweil, Hamzer, Casio, The one, YINGEGE, Spyker, Vibra, Boland
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
203
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Electric Piano Market Report Segments:
The global Electric Piano market is segmented on the basis of:
Types
Low End Keyboards, High End Digital Instruments, Acoustic-Digital Hybrids
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Household, Education, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Casio
- Yamaha
- Roland
- Korg
- Young Chang
- Clavia
- Kawai
- Williams
- Kurzweil
- Hamzer
- Casio
- The one
- YINGEGE
- Spyker
- Vibra
- Boland
Highlights of The Electric Piano Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Low End Keyboards
- High End Digital Instruments
- Acoustic-Digital Hybrids
- By Application:
- Household
- Education
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Piano Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Electric piano is a keyboard instrument that uses electricity to produce sound. The strings are struck by hammers that send electrical signals through wires to the piano's soundboard, which amplifies the signal and sends it out through the speakers.
Some of the major companies in the electric piano market are Casio, Yamaha, Roland, Korg, Young Chang, Clavia, Kawai, Williams, Kurzweil, Hamzer, Casio, The one, YINGEGE, Spyker, Vibra, Boland.
The electric piano market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Piano Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electric Piano Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electric Piano Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Electric Piano Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Electric Piano Market Size & Forecast, 2020-2028
4.5.1 Electric Piano Market Size and Y-o-Y Growth
4.5.2 Electric Piano Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Low End Keyboards
5.2.2 High End Digital Instruments
5.2.3 Acoustic-Digital Hybrids
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Household
6.2.2 Education
6.2.3 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Piano Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Piano Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Low End Keyboards
9.6.2 High End Digital Instruments
9.6.3 Acoustic-Digital Hybrids
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Household
9.10.2 Education
9.10.3 Commercial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Low End Keyboards
10.6.2 High End Digital Instruments
10.6.3 Acoustic-Digital Hybrids
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Household
10.10.2 Education
10.10.3 Commercial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Low End Keyboards
11.6.2 High End Digital Instruments
11.6.3 Acoustic-Digital Hybrids
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Household
11.10.2 Education
11.10.3 Commercial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Low End Keyboards
12.6.2 High End Digital Instruments
12.6.3 Acoustic-Digital Hybrids
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Household
12.10.2 Education
12.10.3 Commercial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Low End Keyboards
13.6.2 High End Digital Instruments
13.6.3 Acoustic-Digital Hybrids
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Household
13.10.2 Education
13.10.3 Commercial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric Piano Market: Competitive Dashboard
14.2 Global Electric Piano Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Casio
14.3.2 Yamaha
14.3.3 Roland
14.3.4 Korg
14.3.5 Young Chang
14.3.6 Clavia
14.3.7 Kawai
14.3.8 Williams
14.3.9 Kurzweil
14.3.10 Hamzer
14.3.11 Casio
14.3.12 The one
14.3.13 YINGEGE
14.3.14 Spyker
14.3.15 Vibra
14.3.16 Boland
