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Global Electric Guitars Market: Market Size Figures, Growth Drivers, and Emerging Trends
Electric Guitars Market Outlook
What Is The Projected Market Size Of The Global Electric Guitars Market And Its Growth Rate?
The global electric guitars market has been witnessing a fast tempo growth:
•The market was valued at $4.1 billion in 2024 and is projected to grow to $4.51 billion in 2025, registering a compound annual growth rate (CAGR) of 10.1%.
•This impressive rise during the historic period is due to various factors such as the rock and roll culture, shifts in music preferences, influence of guitar icons, manufacturing advances, and cultural symbolism.
•The market size is expected to hit a high note, reaching $6.9 billion in 2029 at a CAGR of 11.2%. The growth drivers during the forecast period include continued genre evolution, e-commerce and online sales growth, sustainability and eco-friendly practices, global market expansion, and customization and personalization trends.
What Is Driving The Growth In The Electric Guitars Market?
The growth of the electric guitars market is strumming to the rhythm of the growing interest in music. Music has a refreshing effect and serves as a vital source of entertainment, thus sparking people's interest. Electric guitars have become instrumental in popular music genres, and their aesthetic appeal is motivating many people to learn guitar playing. The UK-based economic report, THIS IS MUSIC 2023, pointed out that the revenues from vinyl sales and streaming revenues in 2022 grew by 3.1% and 6.3% respectively compared to the previous year. Such a flourishing music industry is expected to accelerate the growth of the electric guitars market moving forward.
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Who Are the Key Players Driving Electric Guitars Market Growth?
The major market players strumming the melodies of growth in the electric guitars market include:
•Gibson Brands Inc.
•Alembic Inc.
•Fender Musical Instruments Corporation
•Yamaha Corporation
•CF Martin & Company
•Alvarez Guitars
•Behringer Guitars
•PRS Guitars
•Paul Reed Smith Guitars Ltd.
•Ampeg
•ESP Company Ltd
•Schecter Guitar Research
•Hoshino Gakki Co. Ltd.
•Dean Guitars
•Babicz Guitars
•Rickenbacker International Corp
•Carvin Corporation
•B C Rich Guitars
•G&L Musical Instruments
•Michael Kelly Guitars
•Jackson Guitars
•Cort Guitars
•Epiphone
•Airline Guitars
•Antoria
•Aria Guitars
•Ashton Music
•Avalon Guitars
What Are The Key Trends In The Electric Guitars Market?
The following trends are playing a major chord in the electric guitars market:
•Influence of social media and digital platforms
•Technological innovations
•Digital integration
•Rise in online sales
•Artist collaborations
What Are The Segments Of The Global Electric Guitars Market?
The electric guitars market is segmented as follows:
1) By Type: Electric Acoustic Guitar, Seven String Guitar, Solid Body Guitar, Hollow Body Guitar, Other Types
2) By Price: Low, Medium, High
3) By Distribution Channel: Online, Offline
4) By End-user: Professionals, Learners, Individual Amateurs
Which Region Leads The Electric Guitars Market?
Asia-Pacific was the largest region in the electric guitar market in 2024, covering various other regions such as Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Electric Guitars Market Global Market Report?
- Market Size Analysis: Analyze the Electric Guitars Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electric Guitars Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electric Guitars Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electric Guitars Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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