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 shift, with online retailing gaining significant traction as a preferred distribution channel. This trend is driven by advancements in technology and the increasing accessibility of digital platforms. The guitar industry is leveraging online retail to expand its reach and revolutionize the buying and selling process. Online shopping offers unrivaled convenience for guitar aficionados, enabling them to explore a vast selection of guitars, brands, models, and price points from the comfort of their homes. This accessibility transcends geographical boundaries, broadening the market to a global consumer base. Online platforms provide a comprehensive and diverse inventory, making it an indispensable resource for guitar enthusiasts. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Acoustic
  • Electric
  • Classical
  • Bass
• Distribution Channel
  • Offline
  • Online
• End-User
  • Professional Musicians
  • Amateur Musicians
  • Educational Institutions
• Material
  • Wood
  • Metal
  • Composite Materials
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
    • Argentina
  • Middle East and Africa
    • Egypt

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 string instruments, including electric and acoustic guitars. Live music shows feature these musical instruments, with guitar centerstage in genres like metal and rock. E-commerce and retail stores cater to consumers, offering six-stringed wonders for plucking hands. Music schools teach students rhythm and lead playing, while amplification tools like small amplifiers and PA systems make instruments louder. Famous musicians use digital tools like video conferencing, file sharing, instant messaging, digital whiteboards, and digital sheet music on platforms like YouTube for teaching and performance. Both electric and acoustic guitars, whether for rhythm or lead, require a pickup for optimal sound.

Market Research Overview

The global leisure products market encompasses a range of sectors, including musical instruments, with a focus on stringed instruments such as electric and acoustic guitars. This market segment benefits from the expanding e-commerce landscape and the growth of retailers like Guitar Center. Factors driving market expansion include the rise of music schools and the surge in student enrollment, particularly in genres like metal and rock. Additionally, the proliferation of health and fitness clubs contributes to the market's growth, as members seek new hobbies and creative outlets. The global household durables market, which includes leisure products, is projected to grow significantly due to these trends, with revenue generated by manufacturers of musical instruments contributing to this expansion.. 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/