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Global Guitar Market 2020-2024 | Demand to Reduce Due to COVID-19 Spread | Technavio

·5-min read

Technavio has been monitoring the guitar market, operating under the consumer discretionary industry. The latest report on the guitar market, 2020-2024 estimates it to register an incremental growth of USD 468.78 million, at a CAGR of almost 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Guitar Market 2020-2024 (Graphic: Business Wire)

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage on the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. C. F. Martin & Co. Inc., Fender Musical Instruments Corp., Gibson Brands, Inc., HOSHINO GAKKI Co. Ltd., Karl Höfner GmbH & Co. KG, Paul Reed Smith Guitars, Rickenbacker International Corp., Schecter Guitar Research Inc., Taylor-Listug Inc., and Yamaha Corp. are among some of the major market participants.

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The popularity of music-related leisure activities has been instrumental in driving the growth of the market. However, the increasing adoption of music production software might hamper market growth.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. Download a Free Sample Report on COVID-19 Impacts

Guitar Market 2020-2024: Segmentation

Guitar Market is segmented as below:

  • Product

    • Acoustic

    • Electric

  • Geography

    • North America

    • Europe

    • APAC

    • South America

    • MEA

Based on geographic segmentation, over 46% of the market’s growth will originate from APAC during the forecast period. In addition, market growth in APAC will be faster than the growth of the market in other geographies. This report provides an accurate prediction of the contribution of all the segments to the growth of the market size.

Guitar Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The guitar market report covers the following areas:

  • Guitar Market Size

  • Guitar Market Trends

  • Guitar Market Industry Analysis

This study identifies the increasing demand for customized guitars as one of the prime reasons driving the Guitar Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Guitar Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist guitar market growth during the next five years

  • Estimation of the guitar market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the guitar market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of guitar market, vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

  • Market ecosystem

  • Market characteristics

  • Value chain analysis

  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition

  • Market sizing 2019

  • Market outlook

  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

PART 06: MARKET SEGMENTATION BY PRODUCT

  • Market segmentation by product

  • Comparison by product

  • Acoustic - Market size and forecast 2019-2024

  • Electric - Market size and forecast 2019-2024

  • Market opportunity by product

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation

  • Geographic comparison

  • North America - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • APAC - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers

  • Market challenges

PART 11: MARKET TRENDS

  • Growing online retailing

  • Increasing demand for customized guitars

  • Rising demand for guitars made of eco-friendly raw materials

PART 12: VENDOR LANDSCAPE

  • Overview

  • Landscape disruption

  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • C. F. Martin & Co. Inc.

  • Fender Musical Instruments Corp.

  • Gibson Brands, Inc.

  • HOSHINO GAKKI Co. Ltd.

  • Karl Höfner GmbH & Co. KG

  • Paul Reed Smith Guitars

  • Rickenbacker International Corp.

  • Schecter Guitar Research Inc.

  • Taylor-Listug Inc.

  • Yamaha Corp.

PART 14: APPENDIX

  • Research methodology

  • List of abbreviations

  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201030005458/en/

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