Press release
Electric Guitars Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Electric Guitars
The surge in musical interest is a significant engine propelling the expansion of the electric guitar sector. Music, which revitalizes the soul and serves as a fantastic entertainment source, is increasingly intriguing individuals. Electric guitars, ornamented with gemstones and essence, play a pivotal role in widely-known music genres. The trendiness of these styles encourages numerous individuals to acquire guitar-playing skills. For instance, THIS IS MUSIC 2023, a financial report based in the UK, stated that recorded music profits continually rose in 2022 due to numerous elements, as evidenced by data from June 2024. Vinyl sales revenues witnessed a 3.1% upturn, and streaming revenues saw a 6.3% rise compared to the previous year. Thus, the escalating enthusiasm for music is anticipated to fuel the growth of the electric guitars market in the future.
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What is the future CAGR of the electric guitars market, and how will it impact industry expansion?
In recent times, the market size for electric guitars has exponentially increased. The growth is projected to continue, rising from $4.1 billion in 2024 to $4.51 billion in 2025, with a compound annual growth rate (CAGR) of 10.1%. Factors contributing to this historical growth include the popularity of rock and roll culture, changes in musical tastes, the impact of famous guitarists, improvements in production methods, cultural significance, and media and advertisement influences.
The market for electric guitars is set to experience remarkable growth over the next few years, expanding to $6.9 billion by 2029 with a compound annual growth rate (CAGR) of 11.2%. The expected surge in the forecast period could be due to continuous evolution of genres, the rise of e-commerce and online sales, commitment to sustainability and eco-friendly practices, worldwide market growth, and trends in customization and personalization. Social media and digital platform influence, technological advancements, digital integration, increase in online sales, and collaborations with artists are expected to be the major trends during the forecast period.
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What are the most significant trends transforming the electric guitars market today?
The growth of strategic alliances and teamwork is a notable trend in the electric guitars market. Many prime businesses in this sector are concentrating on partnerships and collaborations to meet customer expectations and solidify their standing. In July 2024, Chapman Guitars, a British firm renowned for its superior electric guitars, entered into a confidential partnership with Musifacts. This alliance was meant to expand Chapman Guitars' product line by incorporating ground-breaking musical technology solutions which enrich the guitar playing experience comprehensively. Musifacts Europe, a company based in the Netherlands, is renowned for its state-of-the-art audio and music software that aids musicians in perfecting their sound and performance.
Which key market segments comprise the electric guitars market and drive its revenue growth?
The electric guitars market covered in this report is segmented -
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
Subsegments:
1) By Electric Acoustic Guitar: Cutaway Electric Acoustic Guitar, Non-Cutaway Electric Acoustic Guitar
2) By Seven String Guitar: Extended Range Seven String Guitar, Baritone Seven String Guitar
3) By Solid Body Guitar: Single-Cut Solid Body Guitar, Double-Cut Solid Body Guitar, Super Strat Solid Body Guitar
4) By Hollow Body Guitar: Full Hollow Body Guitar, Semi-Hollow Body Guitar
5) By Other Types: Baritone Guitar, Travel Electric Guitar, Specialty Electric Guitar
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What regions are at the forefront of electric guitars market expansion?
Asia-Pacific was the largest region in the electric guitar market in 2024. The regions covered in the electric guitars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the electric guitars market?
Major companies operating 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
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What Is Covered In The Electric Guitars Global Market Report?
•Market Size Forecast: Examine the electric guitars market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the electric guitars market for a structured understanding.
•Key Players Overview: Analyze major players in the electric guitars market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the electric guitars market.
•Segment Contributions: Evaluate how different segments drive overall growth in the electric guitars market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the electric guitars market.
•Industry Challenges: Identify potential risks and obstacles affecting the electric guitars market.
•Competitive Landscape: Review strategic developments in the electric guitars market, including expansions, agreements, and new product launches.
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