Authored By: Sarah
11 Nov 2023

  Guitar Market to witness1.95 Bn revenue growth|Growing popularity of music-related leisure activities and increasing celebrity endorsements is boosting the Guitar Market

Forecast for 2023-2027

Expanding celebrity endorsements and the expanding popularity of music-related leisure activities are expected to fuel stable expansion in the Guitar Market throughout North America, Europe, EMEA, APAC, US, Canada, China, Germany, and the UK. Market revenue is projected to increase by USD 1.95 billion between 2023 and 2027, growing at a compound annual growth rate of 7.75%.

Technavio Senior Research Analyst Quoted~ “ The rising popularity of music-related leisure activities is propelling the market advancement of guitar globally  ” 

guitar market size, guitar market share, guitar market analysis, guitar market trends

Snapshot of Guitar Market Analysis - North America, Europe, EMEA, APAC: US, Canada, China, Germany, UK

According to an assessment of market drivers, individuals are becoming more involved in a variety of recreational activities worldwide, such as sports, music, and travel. It provides a respite from their busy and repetitive lives, which is the primary cause of the rising participation. Consumer behaviour and distribution channels have changed as a result of the rise of internet retailing.

It is anticipated that the lengthy guitar replacement cycle and the growing popularity of music production software will impede market expansion. Nonetheless, during the projected period, the guitar market will benefit from expanding e-commerce and increased consumer desire for instruments manufactured of sustainable raw materials.
The recent analysis of the guitar market by Technavio includes a thorough look at revenue forecasts, along with a detailed analysis of market drivers, challenges, major players in the industry, and growth opportunities. Following this, a thorough analysis of the market segments across North America, Europe, Asia Pacific, South America, and the Middle East and Africa is conducted to determine their geographic distribution over the forecast period.Get additional insights into the market's growth through data-supported analysis by downloading our free report.
Technavio’s Analysis of the Guitar Market, also includes:
  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will drive guitar market growth during the next five years
  • Precise estimation of the guitar market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the guitar market industry across 
  • A thorough analysis of the market’s competitive landscape
  • Comprehensive details of factors that will challenge the growth of the Guitar Market.

Browse through related reports for insights into the market landscape: Electric Guitar Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2023-2027

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