Global musical instruments market to reach USD xx billion by 2027. Global musical instruments market is valued approximately at USD xx billion in 2020 and is anticipated to grow with a healthy growth rate of about xx% over the forecast period 2021-2027. Musical instruments refer to devices adapted or created to make musical sounds. The principal kinds of these instruments, classified by the sound producing method, are stringed, percussion, wind, keyboard, electronic, etc. The global musical instruments market is being driven by surge in demand for electronic or self-playing musical instruments and increased purchasing power of the people in different countries across the globe. Furthermore, growth in e-commerce sales will provide new opportunities for the global Musical Instruments industry. According to Statista, the revenue in electronic and electromechanical musical instruments in the United States is expected to increase from USD 572 million in 2021 to USD 658 million by 2026 (2.84% CAGR). Also, in Europe, it is expected to increase from USD 830 million in 2021 to USD 939.5 million by 2026 (2.51% CAGR). This is expected to boost the market growth. However, high cost of electronic musical instruments may impede market growth over the forecast period of 2021-2027.

The regional analysis of the global musical instruments market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific accounts for the largest share in terms of market revenue in the global musical instruments market over the forecast period 2021-2027. Factors such as technological advancements and innovation in electronic music instruments, higher disposable income and levels of spending of consumers, increased demand for musical instruments from countries such as India, China, and Taiwan, etc. contribute towards the largest market share of the region.

Major market player included in this report are:
Casio Computer Co., Ltd.
C.F. Martin & Co., Inc.
D'addario & Company, Inc.
Eastman Music Company
Fender Musical Instruments Corporation
Guangzhou Pearl River Piano Group Ltd
Kawai Musical Instruments Mfg. Co., Ltd.
Steinway & Sons
Yamaha Corporation
Yanagisawa Wind Instruments Co., Ltd.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Stringed
Brass & Woodwind
Percussion
Keyboard
By Distribution Channel:
Supermarkets/Hypermarkets
Specialty Stores
Online Sales Channel
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Musical Instruments Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors