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Piano Sales Global Market Report 2024 by The Business Research Company | Kawai Musical Instruments Manufacturing Co Ltd.; Yamaha Corporation; Casio Computer Co Ltd; Sweetwater Sound Inc.; Roland Corporation; Steinway Musical Instruments; Thomann GmbH
Piano Sales Market Size And Growth
The piano sales market size is expected to see steady growth in the next few years. It will grow to $2.62 billion in 2028 at a compound annual growth rate (CAGR) of 3.1%. The growth in the forecast period can be attributed to psychological benefits, real estate trends, events and cultural celebrations, consumer preferences, and consumer preferences. Major trends in the forecast period include smart integration, compact designs, customization options, subscription models, and personalization.
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Piano Sales Market Major Segments
The piano sales market covered in this report is segmented -
1) By Type: Grand Piano, Upright Piano
2) By Distribution Channel: Offline, Online
3) By Application: Performance, Learning And Teaching, Entertainment
Key Driver - Live Performances Fueling Demand In The Piano Sales Market
The growing popularity of live performances is expected to propel the growth of the piano sales market going forward. Live performances refer to a demonstration, show, or entertainment event when musicians, artists, actors, or other performers interact live with the audience. The popularity of live performances is rising due to the increasing demand for authentic and immersive entertainment experiences in a digitally saturated world. Piano sales contribute to the quality and diversity of live performances by providing musicians with high-quality instruments tailored to their specific needs and preferences, enhancing the overall musical experience for both performers and audiences. For instance, in February 2024, according to Live Nation, a US-based live entertainment company, the company's concert business generated revenues of $18.7 billion, up 39% year on year at constant currency, with attendance to concerts rising 20% and over 145 million fans attending over 50,000 events in 2023. Therefore, the growing popularity of live performances is driving the growth of the piano sales market.
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Prominent Trend - Digital Pianos Transforming The Piano Sales Market
Major companies operating in the piano sales market are focused on developing innovative products, such as digital pianos, to boost their revenue in the market. A digital piano is an electronic musical instrument designed to replicate an acoustic piano's sound and feel while offering additional features and capabilities. For instance, in January 2024, Casio Computer Co. Ltd., a Japan-based electronics company, launched the CELVIANO digital piano AP-750. This piano is designed to deliver the rich resonance, playability, and sophisticated, expressive power of a grand piano while at the same time offering new ways to enjoy playing, with new functions created with original Casio innovation. The piano employs the newly developed Grandphonic Sound System, which delivers an unprecedented level of natural authenticity, recreating the way a grand piano resonates and immersing performers in the experiential world of classical music.
Piano Sales Market Players
Major companies operating in the piano sales market report are Kawai Musical Instruments Manufacturing Co Ltd.; Yamaha Corporation; Casio Computer Co Ltd; Sweetwater Sound Inc.; Roland Corporation; Steinway Musical Instruments; Thomann GmbH; Samick Musical Instruments Co Ltd; Petrof Piano a.s.; Guangzhou Pearl River Piano; Hailun Piano Co Ltd; Andertons Music Co; Long & McQuade Limited; C. Bechstein Pianoforte AG; Kraft Music Ltd; Baldwin Piano Inc; Mason And Hamlin Company; Nord Keyboards AB; Normans Musical Instruments Ltd; Allegro Music Ltd; Schimmel Pianos GmbH; Mendelssohn Piano (Shanghai) Co., Ltd; Korg Inc; Kurzweil Music Systems; Hyundai Development Company Young Chang
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the piano sale market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the piano sales market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Piano Sales Market Report Structure
3. Piano Sales Market Trends And Strategies
4. Piano Sales Market - Macro Economic Scenario
5. Piano Sales Market Size And Growth
…..
27. Piano Sales Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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