Market Overview:
The global guitar market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The acoustic guitars segment is expected to dominate the market in terms of revenue, followed by electric guitars. The online retail segment is projected to be the fastest-growing segment during the forecast period, owing to increasing penetration of internet and smartphones across the globe. In terms of region, North America is estimated to account for the largest share in 2018, while Asia Pacific is projected to be the fastest-growing region during the forecast period.
Product Definition:
Guitar is a musical instrument that has six strings and is played by strumming or plucking the strings with the fingers, thumbs or picks. The vibration of the strings creates sound which can be amplified through a guitar amplifier.
Acoustic Guitars:
Acoustic guitars are played with steel-stringed acoustic guitar or electric guitar without a amplifier. The sound of the instrument is produced by the vibration of the strings that are held between the body and neck of the instrument. It has different forms such as dreadnought, classical, and jumbo.
Electric Guitars:
Electric guitars are guitars that produce sound using electric pickups and the amplification system. The most common types of electric guitars are Stratocasters, Les Pauls, Telecasters, and Ibanezsolos. Electric guitarists can choose from a wide variety of sounds ranging from rock music to country or jazz music by changing the pickup selector switch (on the instrument) or using different tone circuits in series or parallel with an amplifier.
Application Insights:
The online and offline retail application segment dominated the global guitar market in 2017. The segment generated a revenue of more than USD 1.73 billion in 2017 owing to increasing demand for guitars among millennials, who prefer to buy their musical instruments from brick-and-mortar stores rather than online. Furthermore, the growing popularity of electric guitars among rock bands is also expected to drive demand over the forecast period.
The performance venue application segment is expected witness significant growth over the forecast period owing to rising number of live performances by popular artists across various regions globally. For instance, U2 guitarist Johnny Marr has stated that he plays fretless bass guitar on stage as it helps him get a better sound when playing live concerts; this trend is likely to continue among other famous musicians hence driving demand for fretless electric guitars in near future as well.
Guitars are widely used by several famous rappers such as Drake, Kanye West.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position throughout the forecast period owing to high demand for electric guitars and basses from U.S.-based musicians and bands. Asia Pacific is projected to be the fastest-growing regional market over the forecast years on account of increasing number of concerts, especially in India, China, Japan, Australia and New Zealand countries. Moreover, rising popularity of live music performances compared to recorded music will drive product demand over the next eight years.
The industry players are adopting strategies such as mergers & acquisitions that help them expand their business operations globally including distribution centers & offices etc.
Growth Factors:
- Increasing demand for guitars from emerging countries such as China and India due to rising income levels and growing popularity of music among the youth.
- Proliferation of online music streaming services such as Spotify and Apple Music, which has led to an increase in the number of people taking up guitar lessons.
- Introduction of new models of guitars by leading manufacturers that are more affordable and easier to learn, resulting in an increase in the number of first-time buyers.
- Growing interest in vintage guitars among collectors, which has led to an increase in prices for rare models.
- Increased focus on promoting guitar playing as a hobby or form of exercise by health organizations, resulting in greater awareness about the benefits of playing guitar among potential buyers
Scope Of The Report
Report Attributes
Report Details
Report Title
Guitar Market Research Report
By Type
Acoustic Guitars, Electric Guitars
By Application
Online Retail, Offline Retail
By Companies
Fender Musical Instruments, Gibson Brands, Karl Höfner, PRS Guitars, Yamaha, Fender Musical Instruments
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
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Guitar Market Report Segments:
The global Guitar market is segmented on the basis of:
Types
Acoustic Guitars, Electric Guitars
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
Online Retail, Offline Retail
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:
- Fender Musical Instruments
- Gibson Brands
- Karl Höfner
- PRS Guitars
- Yamaha
- Fender Musical Instruments
Highlights of The Guitar 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:
- Acoustic Guitars
- Electric Guitars
- By Application:
- Online Retail
- Offline Retail
- 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 Guitar 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?
Guitar is a stringed instrument that typically has six strings. It is played with the fingers, and often has frets to allow precise tuning.
Some of the major companies in the guitar market are Fender Musical Instruments, Gibson Brands, Karl HƒÂ¶fner, PRS Guitars, Yamaha, Fender Musical Instruments.
The guitar market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Guitar 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 Guitar Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Guitar 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 Guitar 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 Guitar Market Size & Forecast, 2018-2028
4.5.1 Guitar Market Size and Y-o-Y Growth
4.5.2 Guitar Market Absolute $ Opportunity
Chapter 5 Global Guitar 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 Guitar Market Size Forecast by Type
5.2.1 Acoustic Guitars
5.2.2 Electric Guitars
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Guitar 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 Guitar Market Size Forecast by Applications
6.2.1 Online Retail
6.2.2 Offline Retail
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Guitar 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 Guitar 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 Guitar Analysis and Forecast
9.1 Introduction
9.2 North America Guitar 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 Guitar Market Size Forecast by Type
9.6.1 Acoustic Guitars
9.6.2 Electric Guitars
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 Guitar Market Size Forecast by Applications
9.10.1 Online Retail
9.10.2 Offline Retail
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 Guitar Analysis and Forecast
10.1 Introduction
10.2 Europe Guitar 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 Guitar Market Size Forecast by Type
10.6.1 Acoustic Guitars
10.6.2 Electric Guitars
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 Guitar Market Size Forecast by Applications
10.10.1 Online Retail
10.10.2 Offline Retail
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 Guitar Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Guitar 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 Guitar Market Size Forecast by Type
11.6.1 Acoustic Guitars
11.6.2 Electric Guitars
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 Guitar Market Size Forecast by Applications
11.10.1 Online Retail
11.10.2 Offline Retail
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 Guitar Analysis and Forecast
12.1 Introduction
12.2 Latin America Guitar 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 Guitar Market Size Forecast by Type
12.6.1 Acoustic Guitars
12.6.2 Electric Guitars
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 Guitar Market Size Forecast by Applications
12.10.1 Online Retail
12.10.2 Offline Retail
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) Guitar Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Guitar 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) Guitar Market Size Forecast by Type
13.6.1 Acoustic Guitars
13.6.2 Electric Guitars
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) Guitar Market Size Forecast by Applications
13.10.1 Online Retail
13.10.2 Offline Retail
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 Guitar Market: Competitive Dashboard
14.2 Global Guitar Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Fender Musical Instruments
14.3.2 Gibson Brands
14.3.3 Karl Höfner
14.3.4 PRS Guitars
14.3.5 Yamaha
14.3.6 Fender Musical Instruments
