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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries; however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the musical instrument market.
Frequently Asked Questions:
- Based on segmentation by the product, which is the leading segment in the market?
The string instruments are the leading segment in the market.
- What is the major trend in the market?
The rising popularity of online stores is the major trend in the market.
- At what rate is the market projected to grow?
The market will accelerate at a CAGR of over 2.20%.
- Who are the top players in the market?
C. F. Martin & Co. Inc., Casio Computer Co. Ltd., Fender Musical Instruments Corp., Gibson Brands Inc., HOSHINO GAKKI Co. Ltd., Kawai Musical Instruments Mfg. Co. Ltd., KORG Inc., Roland Corp., Steinway Inc., Yamaha Corp. are the top players in the market.
- What are the key market drivers and challenges?
The market is driven by the increasing popularity of live musical performances and concerts. However, high penetration of mobile devices will hamper growth.
- How big is the North American market?
40% of the market’s growth will originate from North America during the forecast period.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. C. F. Martin & Co. Inc., Casio Computer Co. Ltd., Fender Musical Instruments Corp., Gibson Brands Inc., HOSHINO GAKKI Co. Ltd., Kawai Musical Instruments Mfg. Co. Ltd., KORG Inc., Roland Corp., Steinway Inc., and Yamaha Corp. are some of the major market participants. Although the increasing popularity of live musical performances and concerts will offer immense growth opportunities, the high penetration of mobile devices is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this musical instrument market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
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.
Musical Instrument Market 2021-2025: Segmentation
The musical instrument market is segmented as below:
- String Instruments
- Pianos and Keyboards
- Drums and Percussion Instruments
- North America
- South America
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Musical Instrument Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The musical instrument market report covers the following areas:
- Musical Instrument Market Size
- Musical Instrument Market Trends
- Musical Instrument Market Industry Analysis
This study identifies the rising popularity of online stores as one of the prime reasons driving the musical instrument 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.
Musical Instrument Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist musical instrument market growth during the next five years.
- Estimation of the musical instrument market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the musical instrument market across North America, Europe, APAC, South America, and MEA
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of musical instrument market vendors.
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- String instruments – Market size and forecast 2020 – 2025
- Pianos and keyboards – Market size and forecast 2020 – 2025
- Drums and percussion instruments – Market size and forecast 2020 – 2025
- Others – Market size and forecast 2020 – 2025
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2020 – 2025
- Europe – Market size and forecast 2020 – 2025
- APAC – Market size and forecast 2020 – 2025
- South America – Market size and forecast 2020 – 2025
- MEA – Market size and forecast 2020 – 2025
- Key leading countries
- Market opportunity by geography
- Volume driver – Demand led growth
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- C. F. Martin & Co. Inc.
- CASIO COMPUTER CO. LTD.
- Fender Musical Instruments Corp.
- Gibson Brands Inc.
- HOSHINO GAKKI Co. Ltd.
- Kawai Musical Instruments Manufacturing Co. Ltd.
- Korg Inc.
- Roland Corp.
- Steinway Inc.
- Yamaha Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.
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