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Growing Music Interest Ignites The Electric Guitar Market: The Driving Engine Behind Electric Guitars Market Evolution in 2025
Electric Guitars
Electric Guitars Market Size Growth Forecast: What to Expect by 2025?
The market for electric guitars has seen substantial growth in the past few years. It is projected to rise from $4.1 billion in 2024 to $4.46 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. The expansion during the historical timeframe can be linked to factors such as the popularity of rock and roll, changes in musical tastes, the impact of famous guitarists, advancements in production processes, the cultural symbolism of guitars, and media and advertisement influence.
How Will the Electric Guitars Market Size Evolve and Grow by 2029?
The size of the electric guitars market is anticipated to experience swift expansion in the coming years, reaching a value of $6.73 billion by 2029 with a compound annual growth rate (CAGR) of 10.9%. Several factors contribute to this projected growth in the forecast period, including the ongoing evolution of musical genres, the rise of e-commerce and online sales, the adoption of sustainable and eco-friendly practices, expansion into global markets, and the increasing trend towards customization and personalization. Key trends expected during the forecast period encompass the impact of social media and digital platforms, advancements in technology, integration of digital elements, increased online sales, and partnerships with artists.
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What Drivers Are Propelling the Growth of Electric Guitars Market Forward?
The surge in music appreciation significantly contributes to the expansion of the electric guitars market. The captivating appeal of music has piqued people's interest as it not only soothes the spirit but also provides quality entertainment. Electric guitars, embellished with gemstones and essence, hold a significant place in popular music genres, and the trendiness of these genres inspires numerous individuals to take up guitar playing. For instance, the UK-based economic report, THIS IS MUSIC 2023, indicated in June 2024 that the recorded music revenues of 2022 were on an upward trend, attributed to several factors. Vinyl sales revenue witnessed a growth of 3.1%, and streaming revenues saw a 6.3% increase compared to the previous year. Consequently, the heightened interest in music is anticipated to further fuel the growth of the electric guitars market in the future.
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What Long-Term Trends Will Define the Future of the Electric Guitars Market?
The surge in strategic alliances and cooperative efforts is a significant emerging trend in the industry of electric guitars. Key players in the electric guitars market are initiating such partnerships and collaborations to cater to consumer requirements and establish a solid market presence. In July 2024, Chapman Guitars, a firm recognized for high-quality electric guitars hailing from the UK, announced a collaboration with Musifacts for a non-disclosed sum. This alliance allowed Chapman Guitars to expand its product line by incorporating state-of-the-art music technology solutions that elevate the overall guitar playing experience. Located in the Netherlands, Musifacts Europe is renowned for its avant-garde audio and music software that aids musicians in enhancing their sound and performances.
What Are the Key Segments in the Electric Guitars Market?
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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Who Are the Key Players Shaping the Electric Guitars Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth in the Electric Guitars Market?
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.
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