Guitar Global Market Report 2024

Description

A guitar is a musical instrument featuring six strings that are played by strumming or plucking. It produces sound either acoustically, by the strings' vibrations resonating within a hollow body, or through electrical amplification, depending on the type.

The primary types of guitars include acoustic guitars, electric guitars, and solar guitars. Acoustic guitars generate sound through string vibration resonating within their hollow bodies. They are available in various configurations, including six strings, eight strings, twelve strings, and others. These guitars are distributed through both offline and online channels.

The guitar market research report is one of a series of new reports from The Business Research Company that provides guitar market statistics, including guitar industry global market size, regional shares, competitors with a guitar market share, detailed guitar market segments, market trends and opportunities, and any further data you may need to thrive in the guitar industry. This guitar 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 guitar market size has grown rapidly in recent years. It will grow from $8.54 billion in 2023 to $9.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The expansion observed in the historical period can be attributed to several factors, including the evolution of musical genres, the influence of cultural icons and influencers on guitar popularity, innovation in guitar design and technology, trends in music education and learning, and demographic shifts influencing guitar consumption patterns.

The guitar market size is expected to see rapid growth in the next few years. It will grow to $12.86 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The projected growth in the upcoming period is expected to be driven by several factors, including a rising interest in music education, the influence of social media and influencers in promoting guitar culture, the popularity of home recording studios enabling more people to create music, a revival of live music events, and the expansion of niche markets catering to specific musical tastes. Key trends anticipated in the forecast period encompass the rise of digital connectivity in guitars, the integration of smart guitar technology enhancing instrument capabilities, a resurgence of vintage and retro guitar styles, the popularity of artisanal and boutique guitars crafted with meticulous attention to detail, and a focus on customization and personalization options allowing musicians to tailor their instruments to their unique preferences.

The surge in popularity of live musical performances and concerts is fueling the growth of the guitar market. These events serve as engaging musical experiences that not only uplift mood and emotions but also contribute to overall well-being and social interaction. Live performances and concerts have a unifying effect, bringing together people with similar musical tastes and creating opportunities for connection with artists. Additionally, these events offer a platform for guitar manufacturers and brands to showcase their products to a receptive audience of music enthusiasts. For example, data from December 2022, sourced from Comscore, an American-based global media measurement and analytics company, highlighted a surge in interest in live music, as evidenced by Ticketmaster's record-breaking 51.6 million unique visitors to its ticket-buying platforms in October 2022, surpassing previous traffic levels. Consequently, the rise in live music performances and concerts has spurred demand for guitars.

Key players in the guitar market are concentrating on developing innovative products, such as ergonomic and lightweight models, to gain a competitive advantage. An ergonomic and lightweight guitar is designed with a focus on comfort, ease of playability, and reduced physical strain for the player. For instance, in October 2023, Fender Musical Instruments Corporation (FMIC), a US-based manufacturer of musical instruments and amplifiers, introduced The Highway Series. This series features guitars that are both ergonomic and lightweight, equipped with fully integrated Fishman pickup systems and advanced features for a road-ready sound. The Highway Series aims to redefine the acoustic guitar experience by blending modern innovations with the timeless aesthetics of traditional guitars. These guitars are constructed with a feedback-resistant, ergonomic design and Fishman Fluence pickups for seamless setup, offering a classic acoustic guitar vibe with upgraded features tailored to today's live acoustic performers.

In January 2021, GEWA Music GmbH, a Germany-based manufacturer of musical instruments and accessories, acquired Ovation Guitars, marking a strategic move to expand its presence in the guitar market. This acquisition allows GEWA Music to leverage its expertise and industry knowledge to rejuvenate and further develop the renowned Ovation brand. Ovation Guitars, a US-based manufacturer of string instruments including guitars, now benefits from GEWA Music's resources and strategic vision to enhance its position in the competitive guitar market.

Major companies operating in the guitar market are Yamaha Corporation, Gibson Brands Inc., Taylor Guitars, Fender Musical Instruments Corporation, Martin Guitar Company, Eastman Guitars, PRS Guitars, Collings Guitars, Schecter Guitar Research, Godin Guitars, Rickenbacker International Corporation, Dean Guitars, Takamine Guitars, Washburn Guitars, Breedlove Guitars, Guild Guitars, ESP Guitars, Ibanez, Jackson Guitars, Alvarez Guitars, Cort Guitars, Epiphone, G&L Musical Instruments, Gretsch Company, Music Man, Ovation Guitars, Seagull Guitars

Asia-Pacific was the largest region in the guitar market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the guitar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the guitar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The guitar market consists of sales of bass guitars, classical guitar, archtop guitar, resonator guitar and resonator guitar. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Guitar Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on guitar market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for guitar? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The guitar market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Acoustic Guitars; Electric Guitars; Solar Guitars
2) By Number Of Strings: Six Strings; Eight Strings; Twelve Strings; Other Number Of Strings
3) By Distribution: Offline; Online
Companies Mentioned: Yamaha Corporation; Gibson Brands Inc.; Taylor Guitars; Fender Musical Instruments Corporation; Martin Guitar Company
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r17766

1. Executive Summary

2. Guitar Market Characteristics

3. Guitar Market Trends And Strategies

4. Guitar Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Guitar Market Size and Growth

5.1. Global Guitar Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Guitar Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Guitar Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Guitar Market Segmentation

6.1. Global Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Acoustic Guitars
Electric Guitars
Solar Guitars
6.2. Global Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Six Strings
Eight Strings
Twelve Strings
Other Number Of Strings
6.3. Global Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Offline
Online

7. Guitar Market Regional And Country Analysis

7.1. Global Guitar Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Guitar Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Guitar Market

8.1. Asia-Pacific Guitar Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Guitar Market

9.1. China Guitar Market Overview
9.2. China Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Guitar Market

10.1. India Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Guitar Market

11.1. Japan Guitar Market Overview
11.2. Japan Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Guitar Market

12.1. Australia Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Guitar Market

13.1. Indonesia Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Guitar Market

14.1. South Korea Guitar Market Overview
14.2. South Korea Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Guitar Market

15.1. Western Europe Guitar Market Overview
15.2. Western Europe Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Guitar Market

16.1. UK Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Guitar Market

17.1. Germany Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Guitar Market

18.1. France Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Guitar Market

19.1. Italy Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Guitar Market

20.1. Spain Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Guitar Market

21.1. Eastern Europe Guitar Market Overview
21.2. Eastern Europe Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Guitar Market

22.1. Russia Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Guitar Market

23.1. North America Guitar Market Overview
23.2. North America Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Guitar Market

24.1. USA Guitar Market Overview
24.2. USA Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Guitar Market

25.1. Canada Guitar Market Overview
25.2. Canada Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Guitar Market

26.1. South America Guitar Market Overview
26.2. South America Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Guitar Market

27.1. Brazil Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Guitar Market

28.1. Middle East Guitar Market Overview
28.2. Middle East Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Guitar Market

29.1. Africa Guitar Market Overview
29.2. Africa Guitar Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Guitar Market, Segmentation By Number Of Strings, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Guitar Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Guitar Market Competitive Landscape And Company Profiles

30.1. Guitar Market Competitive Landscape
30.2. Guitar Market Company Profiles
- 30.2.1. Yamaha Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Gibson Brands Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Taylor Guitars
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Fender Musical Instruments Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Martin Guitar Company
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Guitar Market Other Major And Innovative Companies

31.1. Eastman Guitars
31.2. PRS Guitars
31.3. Collings Guitars
31.4. Schecter Guitar Research
31.5. Godin Guitars
31.6. Rickenbacker International Corporation
31.7. Dean Guitars
31.8. Takamine Guitars
31.9. Washburn Guitars
31.10. Breedlove Guitars
31.11. Guild Guitars
31.12. ESP Guitars
31.13. Ibanez
31.14. Jackson Guitars
31.15. Alvarez Guitars

32. Global Guitar Market Competitive Benchmarking

33. Global Guitar Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Guitar Market

35. Guitar Market Future Outlook and Potential Analysis

35.1 Guitar Market In 2028 - Countries Offering Most New Opportunities
35.2 Guitar Market In 2028 - Segments Offering Most New Opportunities
35.3 Guitar Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer