Press release
Innovative Technologies Revolutionize Physiotherapy And Rehabilitation Trend: A Crucial Influence on the Piano Sales Market's Transformation in 2025
Piano Sales Market Share
The surge in popularity of live entertainment is anticipated to fuel the expansion of the piano sales market. Live entertainment refers to events where actors, musicians, artists or other performers engage directly with their audience in a show, demonstration or entertainment act. This form of entertainment is becoming increasingly sought after as people crave authentic and immersive experiences in an era dominated by digital content. Pianos form a vital part of these performances, offering a diversity and quality that musicians require, and customizing their instruments to suit their unique needs and tastes to enhance the overall musical experience for the performer and audience. For example, Live Nation, a US-based live entertainment firm, reported that their concert business generated revenues of $18.7 billion in February 2024, a 39% increase in year on year revenue at constant currency. The number of concertgoers also rose by 20%, with over 145 million fans attending more than 50,000 events in 2023. As such, the rising popularity of live performances is leading to a surge in the piano sales market.
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What Is the projected market size and growth rate for the piano sales market?
In the past few years, the piano sales market size has seen a consistent increase. It is projected that the figure will rise from $2.32 billion in 2024 to $2.4 billion in 2025 with a compound annual growth rate (CAGR) of 3.3%. Factors such as economic circumstances, shifts in demographics, changes in education policies, alterations in lifestyles, along with marketing and branding strategies, contributed greatly to the growth experienced in the historic period.
The industry size of piano sales is projected to witness consistent expansion over the upcoming years. By 2029, it's predicted to reach a robust $2.69 billion, boasting a compound annual growth rate (CAGR) of 3.0%. The expected growth during the forecast period can be credited to factors like psychological benefits, trends in the real estate market, occasions and cultural festivities, as well as consumer likes and dislikes. Key trends for the forecast period comprise smart incorporation, compactness in designs, options for customization, subscription-based services and personalization.
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What new trends are reshaping the piano sales market and its opportunities?
Prominent enterprises in the piano sales sector are concentrating on creating innovative products such as digital pianos, to enhance their market earnings. A digital piano is an electronic musical instrument crafted to mimic the sound and feel of an acoustic piano while proffering extra features and functionalities. For example, Casio Computer Co. Ltd., a company from Japan specializing in electronics, unveiled the CELVIANO digital piano AP-750 in January 2024. This piano is purpose-built to offer richness, playability, and the grandeur and expressiveness of a grand piano while simultaneously providing new enjoyment methods, with unique functions developed through original Casio innovation. The piano incorporates the newly evolved Grandphonic Sound System, presenting an unheard of level of organic authenticity, reproducing the resonance of a grand piano and engrossing performers in the classical music's immersive universe.
What major market segments define the scope and growth of the piano sales market?
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
Subsegments:
1) By Grand Piano: Baby Grand Piano, Concert Grand Piano, Parlor Grand Piano, Petite Grand Piano
2) By Upright Piano: Console Pianos, Studio Pianos, Spinet Pianos, Professional Upright Pianos
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Which region dominates the piano sales market?
Asia-Pacific was the largest region in the piano sale market in 2024. 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.
Which key market leaders are driving the piano sales industry growth?
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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What Is Covered In The Piano Sales Global Market Report?
•Market Size Forecast: Examine the piano sales market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the piano sales market for a structured understanding.
•Key Players Overview: Analyze major players in the piano sales market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the piano sales market.
•Segment Contributions: Evaluate how different segments drive overall growth in the piano sales market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the piano sales market.
•Industry Challenges: Identify potential risks and obstacles affecting the piano sales market.
•Competitive Landscape: Review strategic developments in the piano sales market, including expansions, agreements, and new product launches.
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