FMI Releases New Report on the Musical Instruments
Market 2016-2026
December 2016
Report Id : REP-GB-1587
Status : Ongoing
Category : Retail and Consumer Products
©2015 Future Market Insights, All Rights Reserved
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Musical Instruments Market
FMI Releases New Report on the Musical Instruments Market 2016-2026
The global musical instruments market, witnessing passive growth since the global financial crisis of
2006-07, is estimated to continue sluggish development during the forecast period 2016-2026. Key
markets, including the U.S., Germany, France, Italy, India, and China have experienced superficial growth
in the demand for musical instruments, owing to which the global market is expected to thrive at a single
digit CAGR throughout the forecast period. While North America and Western Europe will continue to
hold leading market share, the Middle East, Latin America, and Africa are anticipated to account for
sluggish volume-wise growth compared to major markets.
U.S. will Dominate the Market; Keyboard Stringed Instruments Will Remain the Largest Segment
U.S. will continue to account for a leading share of the global musical instruments market. The
prominence of keyboard stringed instruments will continue over the forecast period, creating consistent
growth opportunity for keyboard manufacturers. The trend of rising domestic demand and curtailed
imported production observed in the recent past, is estimated to continue during the forecast period as
well. Owing to the less-resource-hiring pattern in the overall musical instruments manufacturing industry,
the competitive landscape seems to be fragmented and will continue to exhibit fragmentation. However,
total production revenues are predicted remain steady during the forecast period.
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Musical Instruments Market
Musical Instruments Market: Key Drivers
Technological innovation has played an important role in moderate demand for musical instruments on a
global level. The most sought-after instruments include digital keyboards, pianos, guitar, wind
instruments, and PA equipment, which are available at local retailers, superstores, and chain stores. The
availability of strong and reliable online retailers is also expected to play a crucial role in generating new
revenue channels. Growing popularity and influence of western music in developing regions will play a
key role in sustaining the demand for musical instruments in the global market. Moreover, reestablished
interest in classical music can also be considered to fuel the demand for musical instruments.
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The demand for specific musical instruments is driven by the choice of a majority of population in specific
regions. Moreover, cultural and socio-economic factors in respective geographies are expected to hold
their influence on the sales of specific musical instruments. As growing adoption of music as a hobby or
full-fledged career choice persists in adolescents, it is anticipated to push the demand for a variety of
instruments in market. A considerable middle classpopulation from emerging economies is currently
enjoying substantial disposable income, increasing the expenditure on leisure, including art and music.
The increasing number of music reality shows, live music bands, and concerts isprojected to pose a
positive impact on the increase in the demand for modern, high-tech, expensive instruments.
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Musical Instruments Market
However, the emergence of app-based musical instruments may impede the sales of musical instruments
in the near future.
Key Market Trends
Electronic organs and pianos are expected to take over traditional instruments.
Traditional pianos, which hold a substantial market share, are expected to face strong competition by
self-playing pianos.
High quality, and low operating and maintenance costs tend to significantly influence consumers’ buying
decision.
Global Musical Instruments Market: Segmentation
The global musical instruments market is segmented on the basis of region, applications, types, and enduse.
On the basis of region, the global musical instruments market is segmented on the basis of region into
North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ),
Middle East & Africa (MEA), and Japan.
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Musical Instruments Market
The global musical instruments market can be segmented on the basis of type into percussion
instruments, string instruments, piano & key instruments, and organs & air blown instruments. The global
musical instruments market can be segmented on the basis of applications into commercial events,
personal use, and music production etc. The end use segmentation of global musical instruments market
comprises personal and commercial use.
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Key Players in Global Musical Instruments Market
The key participants in the global musical instruments market are Gibson Guitars and Basses, QRS Music,
Fender Musical Corporation, Steinway Musical Instruments, Zildjian Cymbals, Paiste Cymbals, Cort, Casio,
Yamaha, C F Martin, Korg, Roland, Kawai, Pearl, Tama, Mapex, Sonor, ESP, Ibanez, Pluto, Tristar, and
Granada. However, Yamaha, QRS Music, and Steinway are witnessing higher sales opportunities
compared to other companies.
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