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What is the global musical instrument market size?
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The global musical instrument market size was worth USD 14.20 billion in 2022 and it is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. The market for musical instruments is expected to expand over the forecast period due to increased access to musical education
- How big is the musical instrument market?The global musical instrument market size was estimated at USD 14.20 billion in 2022 and is expected to reach USD 15.23 billion in 2023. Read More
- What is the musical instruments market growth?The global musical instrument market is expected to grow at a compound annual growth rate of 7.4% from 2023 to 2030 to reach USD 25.13 billion by 2...
- Which segment accounted for the largest musical instrument market share?Asia Pacific dominated the musical instruments market with a share of 41.6% in 2022. This is attributable to the rising influence of western music...
- Who are the key players in musical instruments market?Some key players operating in the musical instruments market include Casio Computer Co., Ltd., C.F. Martin & Co., Inc., D'addario & Company, Inc.,...
- What are the factors driving the musical instrument market?Key factors that are driving the market growth include the rising number of music hobbyists worldwide and the increasing popularity of traditional...
May 6, 2024 · The global musical instrument market size was valued at USD 18.63 billion in 2022 and is projected to grow from USD 19.25 billion in 2023 to USD 24.53 billion by 2030, exhibiting a CAGR of 3.52% during the forecast period. Musical instruments are primarily used to create different types of music.
Worldwide. Highlights. The revenue generated in the Musical Instruments market worldwide in 2024 amounts to US$47bn. It is projected to experience an annual growth rate of 7.60% (CAGR...
The global musical instruments market size was valued at $9,826.5 million in 2020, and is projected to reach $11,589.8 million by 2030, registering a CAGR of 2.1%. Musical instruments are devices that make musical sounds. These instruments express and reflect individual and community identities as well as physical geographies.
The global musical instrument market size reached approximately USD 11.47 billion in 2023. The market is further projected to grow at a CAGR of 3.3% between 2024 and 2032, reaching a value of USD 15.36 billion by 2032. Key Trends in the Market.
- What was the musical instrument market value in 2023?The market reached a value of approximately USD 11.47 billion in 2023.
- What is the growth rate of the musical instrument market?The market is projected to grow at a CAGR of 3.3% between 2024 and 2032.
- What is the forecast outlook of the market for 2024-2032?The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 15.36 billion by 2032.
- What are the major market drivers?The major market drivers include rising popularity of concerts and live music performances and introduction of music classes in schools and colleges.
- What are the key musical instrument market trends?The key trends fuelling the growth of the market include rising disposable income and increased recognition provided to musicians across various so...
- What are the major regions in the market for musical instruments, according to the EMR report?The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
- What are the various types of musical instruments available in the market?The various types of musical instruments available in the market include stringed instruments, percussion instruments, wind instruments, and keyboa...
- Who are the key market players, according to the musical instrument market report?The key players in the market are Gibson Brands, Inc., Shure Incorporated, Yamaha Corporation, Fender Musical Instruments Corporation, Steinway Mus...
Grand View Research’s musical instruments industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies.
The musical instrument market was valued at US$ 10,846.2 million in 2019. During the period between 2019 and 2023, the demand for music instruments continued to rise at 3.9% CAGR. The music equipment industry value reached US$ 12,640 million in 2023.
