Press release
Prominent Guitar Market Trend for 2025: Innovation In The Guitar Market
Guitar Market Size
The guitar market will grow from $9.25 billion in 2024 to $10.07 billion in 2025, reflecting a CAGR of 8.9%. The growth is driven by the evolution of musical genres, cultural influences, guitar design innovations, and music education trends.
The guitar market is expected to grow significantly, reaching $13.95 billion by 2029 at a CAGR of 8.5%. Growth drivers include increased interest in music education, the influence of social media and influencers, the rise of home recording studios, the revival of live music, and the expansion of niche markets. Key trends include digital connectivity, smart guitar technology, the resurgence of vintage and retro styles, artisanal and boutique guitars, and increased customization.
What Is Driving the Growth Trajectory of the Guitar Market?
The rising popularity of live musical performances and concerts is expected to drive the growth of the guitar market. Live musical performances and concerts are events that not only enhance mood and emotions but also provide opportunities for people to socialize and connect over shared musical interests. These events offer guitar manufacturers and brands a chance to showcase their products to a captivated audience of music enthusiasts. For example, in October 2024, Prism.fm, a US-based live event platform, reported that the global live music market grew by 25% in 2023 compared to 2022, reaching $33 billion. The live music industry is projected to reach $50 billion by 2030. This increase in live music events is boosting the demand for guitars.
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Which Leading Companies Are Shaping the Growth of the Guitar Market?
Major companies operating in the guitar market report are Yamaha Corporation; Gibson Brands Inc.; Taylor Guitars; Fender Musical Instruments Corporation; Martin Guitar Company; Eastman Guitars; PRS Guitars; Collings Guitars; Schecter Guitar Research; Godin Guitars; Rickenbacker International Corporation; Dean Guitars; Takamine Guitars; Washburn Guitars; Breedlove Guitars; Guild Guitars; ESP Guitars; Ibanez; Jackson Guitars; Alvarez Guitars; Cort Guitars; Epiphone; G&L Musical Instruments; Gretsch Company; Music Man; Ovation Guitars; Seagull Guitars
What Are the Major Trends Shaping the Guitar Market?
Companies in the guitar market are focused on developing ergonomic and lightweight products to gain a competitive advantage. An ergonomic and lightweight guitar design prioritizes comfort, ease of playability, and reduces physical strain. For instance, in October 2023, Fender Musical Instruments Corporation (FMIC), a U.S.-based manufacturer of musical instruments, launched The Highway Series, which is designed to be ergonomic and lightweight. It features fully integrated Fishman pickup systems and advanced features that provide a road-ready sound. This series redefines the acoustic guitar experience by combining modern innovations with the classic look of traditional guitars, offering an ergonomic design and Fishman Fluence pickups for easy setup.
What Are the Key Segments of the Guitar Market?
The guitar market covered in this report is segmented -
1) By Type: Acoustic Guitars, Electric Guitars, Solar Guitars
2) By Number Of Strings: Six Strings, Eight Strings, Twelve Strings, Other Number Of Strings
3) By Distribution: Offline, Online
Subsegments:
1) By Acoustic Guitars: Dreadnought, Concert, Parlor, Jumbo, Travel Guitars
2) By Electric Guitars: Solid Body Electric Guitars, Hollow Body Electric Guitars, Semi-Hollow Body Electric Guitars
3) By Solar Guitars: Solar-Powered Acoustic Guitars, Solar-Powered Electric Guitars
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Which Region Dominates the Guitar Market?
Asia-Pacific was the largest region in the guitar market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the guitar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Guitar Global Market Report?
- Market Size Analysis: Analyze the Guitar Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Guitar 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 Guitar Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Guitar Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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