PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350248
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350248
Electric & Acoustic Guitar Strings Market, By Product Type, By Application, And By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Global electric & acoustic guitar strings market is estimated to surpass US$ 673.6 million in terms of revenue by 2030, exhibiting a CAGR of 3.5% during the forecast period (2023 to 2030).
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2023: | US$ 510.6 Mn |
| Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
| Forecast Period 2023 to 2030 CAGR: | 3.50% | 2030 Value Projection: | US$ 673.6 Mn |
Guitar strings can vibrate freely. Guitar strings are lengths of a flexible material that a musical instrument holds under tension controllably. Guitars typically have six strings with different thickness. Guitar string is the vibrating element.
Market Dynamics
Increasing sales of guitars across the world is expected to boost demand for electric & acoustic guitar strings over the forecast period. Increasing number of music festivals and live concerts at the global level is boosting sales of guitars. Participation of young generation in these concerts and festivals is promoting organization of music festivals and live concerts. For instance, according to a data published by SCI Maritime Training Institute (MTI), an integral part of The Shipping Corporation of India Ltd. (SCI), in 2020, the Rolling Loud music festival in Miami had more than 180,000 guests, and nearly 200 million eager hip-hop fans in 2020
Various electric & acoustic manufacturers are focusing on the development of innovative products related to the market. The new guitar strings coupled with innovations in strings Allow for enhanced tone when playing high up the instrument's neck. The innovative guitar strings does not require any expensive changes to guitar players' existing instruments.
Moreover, key players are focusing on various strategies such as regional expansion coupled with business expansion. For instance, in March 2020, D'Addario & Co., a manufacturer of strings for musical instruments, announced to commence direct distribution of its products to the Italian dealer network from June 2020. The company will provide a direct sales and marketing servicein Italy from its office based in Lyon.
Key features of the study:
- This report provides in-depth analysis of global electric & acoustic guitar strings market, and provides market size (US$ 510.6 Million) and compound annual growth rate (CAGR 3.5%) for the forecast period (2023-2030), considering 2022 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global electric & acoustic guitar strings market based on the following parameters-company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study include D'Addario & Co., Fender Musical Instruments Corporation, Gibson Brands, Ernie Ball Inc., GHS Strings, C. F. Martin & Company Inc., Dunlop Manufacturing, Inc., Dean Markley USA, Inc., Kistron Co., Ltd., Rotosound Manufacturing Ltd., and DR Handmade Strings
- Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future products launches, technology up gradation, market expansion, and marketing tactics
- Global electric & acoustic guitar strings market report caters to various stakeholders in this industry including investors, suppliers, electric & acoustic guitar strings manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric & acoustic guitar strings market
Detailed Segmentation:
- Global Electric & Acoustic Guitar Strings Market, By Product Type:
- Light
- Custom Light
- Extra Light
- Global Electric & Acoustic Guitar Strings Market, By Application:
- Acoustic Guitar
- Electric Guitar
- Global Electric & Acoustic Guitar Strings Market, By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- Company Profiles
- D'Addario & Co.
- Fender Musical Instruments Corporation
- Gibson Brands
- Ernie Ball Inc.
- GHS Strings
- Martin & Company Inc.
- Dunlop Manufacturing, Inc.
- Dean Markley USA, Inc.
- Kistron Co., Ltd.
- Rotosound Manufacturing Ltd.
- DR Handmade Strings
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Supply Side Drivers
- Demand Side Drivers
- Economic Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trends
- PEST Analysis
- PORTER's Analysis
- New Product Approvals/Launches
- Promotion and Marketing Initiatives
4. Global Electric & Acoustic Guitar Strings Market- Impact of Coronavirus (COVID-19) Pandemic
- Overview
- Factors Affecting Electric & Acoustic Guitar Strings -COVID-19
- Impact Analysis
5. Global Electric & Acoustic Guitar Strings Market, By Product Type, 2023-2030, (US$ Million)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2023 - 2030
- Segment Trends
- Light
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023 - 2030, (US$ Million)
- Custom Light
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023 - 2030, (US$ Million)
- Extra Light
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023 - 2030, (US$ Million)
6. Global Electric & Acoustic Guitar Strings Market, By Application, 2023 - 2030, (US$ Million)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2023 - 2030
- Segment Trends
- Acoustic Guitar
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023 - 2030, (US$ Million)
- Electric Guitar
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023 - 2030, (US$ Million)
7. Global Electric & Acoustic Guitar Strings Market, By Region, 2023 - 2030, (US$ Million)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2023 - 2030
- North America
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Country, 2023 - 2030
- Market Size and Forecast, By Product Type, 2023 - 2030, (US$ Million)
- Market Size and Forecast, By Application, 2023 - 2030, (US$ Million)
- Market Size and Forecast, By Country, 2023 - 2030, (US$ Million)
- U.S.
- Canada
- Latin America
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Country, 2023 - 2030
- Market Size and Forecast, By Product Type, 2023 - 2030,(US$ Million)
- Market Size and Forecast, By Application, 2023 - 2030, (US$ Million)
- Market Size and Forecast, By Country, 2023 - 2030, (US$ Million)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Country, 2023 - 2030
- Market Size and Forecast, By Product Type, 2023 - 2030, (US$ Million)
- Market Size and Forecast, By Application, 2023 - 2030, (US$ Million)
- Market Size and Forecast, By Country, 2023 - 2030, (US$ Million)
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Country, 2023 - 2030
- Market Size and Forecast, By Product Type, 2023 - 2030, (US$ Million)
- Market Size and Forecast, By Application, 2023 - 2030, (US$ Million)
- Market Size and Forecast, By Country, 2023 - 2030, (US$ Million)
- China
- Japan
- India
- South Korea
- ASEAN
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Country, 2023 - 2030
- Market Size and Forecast, By Product Type, 2023 - 2030, (US$ Million)
- Market Size and Forecast, By Application, 2023 - 2030, (US$ Million)
- Market Size and Forecast, By Region, 2023 - 2030, (US$ Million)
- Middle East
- Africa
8. Competitive Landscape
- Market Share Analysis
- Company Profiles
- Heat Map Analysis
- D'Addario & Co.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Fender Musical Instruments Corporation
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Gibson Brands
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Ernie Ball Inc.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- GHS Strings
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- F. Martin & Company Inc.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Dunlop Manufacturing, Inc.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Dean Markley USA, Inc.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Kistron Co., Ltd.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- Rotosound Manufacturing Ltd.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
- DR Handmade Strings.
- Company Overview
- Product Portfolio
- Recent Developments/Updates
9. Section
- References
- Research Methodology
- About us and Sales Contact
