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Musical Instruments Global Market Report 2022

·4-min read

Major players in the musical instruments market are Casio Computer Co. Ltd. , C. F. Martin & Co. Inc, D’addario & Company Inc. , Eastman Music Company, Fender Musical Instruments Corporation, and Kawai Musical Instruments Mfg.

New York, July 06, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Musical Instruments Global Market Report 2022" -
Co. Ltd., Steinway & Sons, Yamaha Corporation, Yanagisawa Wind Instruments Co., Ltd., Roland Corporation, Guangzhou Pearl River Piano Group Ltd., HMI Guitars, Cort, Gibson Brands Inc., and Hoshino Gakki Co. Ltd.

The global musical instruments market is expected to grow from $12.95 billion in 2021 to $13.25 billion in 2022 at a compound annual growth rate (CAGR) of 2.3%. The musical instruments market is expected to grow to $14.54 billion in 2026 at a CAGR of 2.4%.

The musical instrument market consists of sales of music instrument devices by entities (organizations, sole traders, partnerships) that are created for producing a musical sound. Musical instruments create sounds through vibrations and most of the instruments are tuned to make a range of sounds of particular frequencies called as notes.

The main types of musical instruments are stringed, brass and woodwind, percussion, and keyboard.Stringed musical instruments produce sound using vibrating strings.

The most common string instruments in the string family are guitar, electric bass, violin, viola, cello, double bass, banjo, mandolin, ukulele, and harp. The different distribution channel for musical instruments include supermarkets/hypermarkets, specialty stores, and online sales channel.

Asia Pacific was the largest region in the musical instruments market in 2021. The regions covered in the musical instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The musical instruments market research report is one of a series of new reports that provides musical instruments market statistics, including musical instruments industry global market size, regional shares, competitors with a musical instruments market share, detailed musical instruments market segments, market trends and opportunities, and any further data you may need to thrive in the musical instruments industry. This musical instruments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increase in popularity of live musical performances and concerts is driving the growth of the musical instruments market.Live musical performances and concerts are musical engagement that helps improve mood, boosts emotions, stay healthy, and socialize.

Live performances and concerts bring people together and unite a group with similar music tastes and experiences to connect with artists.For instance, according to live music discovery and ticket purchasing app, Bandsintown, the number of tickets sold in January 2022 was twice as many as 2019.

It’s about 100% gross in 2022 compared to January 2019. Thus, the increase in the number of live music performances has raised the demand for musical instruments.

Technological advancements are the key trend gaining popularity in the musical instruments market.For instance, in April 2021, Casio computer company ltd a Japanese multinational electronics manufacturing corporation has launched Casiotone CT-S1, a digital keyboard designed with the concept of making music anytime and anywhere.

The main goal is to develop the Casiotone digital keyboards that is suited for various needs and situations.This keyboard is specially designed for adult users interested in music-making in their daily lives.

It is made up of a row of keys, built-in speakers, and a limited section of buttons that is used to blend with the user’s modes of living.

In November 2021, Fender Musical Instruments Corporation (FMIC), a musical instrument manufacturing company acquired PreSonus Audio Electronics, Inc. for an undisclosed amount. With this acquisition, both the companies will expand their product portfolio of pro and pro-summer audio equipment. PreSonus Audio Electronics, Inc. is an American manufacturer of professional audio equipment and software, used to create, record, mix, and master music and other audio.

The countries covered in the musical instruments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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