Latest News- Guitar Market: Acoustic is expected to lead the Type segment during 2025-2029

The Guitar Market is being driven by Growing popularity of music-related leisure activities

The Guitar Market is expected to grow at a CAGR of 7.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2209.3 million. The global guitar market is undergoing a transformative period, marked by evolving consumer preferences and distribution channels. Online retailing is spearheading this change, gaining prominence as consumers increasingly turn to digital platforms for convenience and accessibility. This shift allows the guitar industry to expand its reach and adapt to a global customer base. Online retailing offers guitar enthusiasts unparalleled convenience, enabling them to browse, compare, and purchase guitars from a diverse range of brands, models, styles, and price points, all from the comfort of their homes. This accessibility eliminates geographical constraints, thereby broadening market opportunities and enhancing the overall customer experience. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Acoustic
  • Electric
• Distribution Channel
  • Offline
  • Online
• Geography
  • North America
  • Europe
  • APAC
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing popularity of music-related leisure activities
• Growing celebrity endorsements
• Music teaching classes as co-curricular activity in educational institutions

However, the market also witnesses some limitations, which are as follows:

• Long replacement cycle of guitars
• Increasing adoption of music production software
• Stringent government regulations on procurement of rosewood

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Market Scope in Guitar Market Research Report

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Research Analysis Overview

The guitar market encompasses various stringed instruments, including electric and acoustic guitars, which are popular for live music shows. E-commerce and retail stores, like Guitar Center, cater to consumers' preferences for these musical instruments. Six-string guitars, used for genres like metal and rock, require amplification through small amplifiers or PA systems for optimal sound. Musicians, students, and music schools utilize digital tools like video conferencing, file sharing, digital whiteboards, and digital sheet music on platforms such as YouTube for learning and collaboration. The hands pluck or strum the strings to produce sound, with famous musicians inspiring many to learn and perform. Acoustic guitars, with or without pickups, offer rhythm and lead capabilities, while pianos serve as alternative choices in the musical instrument realm.

Market Research Overview

The global leisure products market, encompassing sectors such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-focused games, is a significant contributor to the household durables market. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of household durables, including consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. Factors fueling the market's expansion include the surge in health and fitness club memberships. This trend has gained traction over the past decade, with the number of health and fitness clubs continuing to expand due to the industry's promising prospects. Within the musical instruments segment, the guitar market, specifically, is thriving, with both electric and acoustic guitars in high demand. This sector is further bolstered by the rise of e-commerce platforms and the presence of retail giants like Guitar Center, providing consumers with increased accessibility to these instruments. Additionally, music schools are fostering a new generation of musicians, further driving demand for guitars and other string instruments.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/