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Musical Instruments Market 2023 - Market Size, Key Drivers, Share, Statistics And Forecast To 2032
Musical Instruments Market Analysis
Musical Instruments Market Size, Growth Rate, And Forecast
The global musical instruments market size grew from $13.25 billion in 2022 to $13.57 billion in 2023 at a compound annual growth rate (CAGR) of 2.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The musical instruments market size is expected to grow to $14.92 billion in 2027 at a CAGR of 2.4%.
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Musical Instruments Market Drivers
The increase in popularity of live musical performances and concerts is driving the growth of the musical instruments market. Live musical performances and concerts are musical engagement that helps improve mood, boosts emotions, stay healthy, and socialize. Live performances and concerts bring people together and unite a group with similar music tastes and experiences to connect with artists.
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Musical Instruments Market Segments
1) By Type: Stringed, Brass And Woodwind, Percussion, Keyboard
2) By Distribution Channel: Supermarkets/Hypermarkets, Specialty Stores, Online Sales Channel
3) By Application: Commercial Events, Personal Use, Music Production, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the musical instruments market.
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Musical Instruments Market Key Players
Major competitors in the musical instruments market include Casio Computer Co. Ltd., C.F. Martin & Co. Inc., D'addario & Company Inc., Eastman Music Company, Fender Musical Instruments Corporation.
The Business Research Company's "Global Musical Instruments Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Musical Instruments Market Include:
1. Executive Summary
2. Musical Instruments Market Characteristics
3. Musical Instruments Market Trends And Strategies
4. Musical Instruments Market - Macro Economic Scenario
5. Musical Instruments Market Size And Growth
......
26. Africa Musical Instruments Market
27. Musical Instruments Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Musical Instruments Market
29. Musical Instruments Market Future Outlook and Potential Analysis
30. Appendix
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