PUBLISHER: The Business Research Company | PRODUCT CODE: 1672512
PUBLISHER: The Business Research Company | PRODUCT CODE: 1672512
A musical instrument is a device designed for producing musical sounds. Objects such as pianos, guitars, or drums that are used to play music fall into the category of musical instruments. These instruments generate sounds through vibrations, and most of them are tuned to produce a range of sounds at specific frequencies known as notes.
The primary types of musical instruments are stringed, brass and woodwind, percussion, and keyboard. Stringed instruments produce sound through vibrating strings. Common examples in the string family include the guitar, electric bass, violin, viola, cello, double bass, banjo, mandolin, ukulele, and harp. Musical instruments are distributed through various channels, including supermarkets/hypermarkets, specialty stores, and online sales channels.
The musical instrument market research report is one of a series of new reports from The Business Research Company that provides musical instrument market statistics, including musical instrument industry global market size, regional shares, competitors with a musical instrument market share, detailed musical instrument market segments, market trends and opportunities, and any further data you may need to thrive in the musical instrument industry. This musical instrument 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 musical instruments market size has grown steadily in recent years. It will grow from $14.72 billion in 2024 to $15.37 billion in 2025 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to strong economic growth in emerging markets, a rise in disposable income, an increase in the popularity of live musical performances, and a rise in the number of self-employed musicians.
The musical instruments market size is expected to see strong growth in the next few years. It will grow to $19.18 billion in 2029 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to growing e-commerce sales, rising urbanization, and rising penetration of social media platforms. Major trends in the forecast period include focusing on sustainable and eco-friendly musical instruments, using sensors on instruments to develop advanced instruments, focusing on smart digital instruments, and strategic partnerships and collaborations.
The musical instruments market is anticipated to witness growth, driven by the increasing prevalence of social media platforms throughout the forecast period. These platforms offer musicians an expansive network to showcase their talents, connect with a global audience, and cultivate a dedicated fan base, thereby boosting the demand for musical instruments among aspiring artists. Furthermore, influencers, content creators, and music communities on social media contribute to the visibility of various instruments, leading to heightened interest and increased sales. Additionally, social media platforms serve as effective marketing channels for musical instrument manufacturers and retailers, enabling them to reach targeted audiences through product demonstrations, promotions, and customer reviews. For instance, according to Smart Insights, a UK-based company specializing in digital marketing skills, global social media users reached 4.62 billion in January 2022 and 4.72 billion in January 2023. Consequently, the growing prevalence of social media platforms is poised to drive the expansion of the musical instruments market.
The surge in e-commerce sales is expected to further propel the growth of the musical instruments market in the forecast period. E-commerce, denoting the online purchase and sale of products and services, provides consumers with the convenience of exploring a wide array of musical instruments, including rare and specialized products, from the comfort of their homes. The rise of e-commerce encourages manufacturers and retailers to leverage digital platforms for showcasing new products, presenting customer reviews, and offering personalized recommendations, thereby stimulating consumer interest and engagement. For example, according to the International Trade Administration, e-commerce sales in Canada were estimated at approximately $2.34 billion in March 2022, with a projected retail e-commerce sales figure of $40.3 billion by 2025. Additionally, the Russian e-commerce market is anticipated to grow by 67.2% in 2023, contributing to the global growth rate of 10.4% in the same year. Consequently, the increasing prevalence of e-commerce sales is expected to drive the growth of the musical instruments market.
Technological advancements are a significant trend gaining traction in the musical instruments market. For example, in October 2024, ROLI, a UK-based music technology company, unveiled Airwave, a revolutionary musical instrument aimed at enhancing both music learning and creative expression. Airwave is recognized as the world's first intelligent practice assistant, capable of detecting hand movements and recognizing voice input, offering real-time feedback to help users refine their playing skills. Equipped with sophisticated 3D infrared cameras, Airwave meticulously tracks hand movements, enabling precise interaction with any connected ROLI keyboard. Users can issue natural voice commands to Airwave, requesting it to demonstrate chords or provide tips, which makes the learning process more intuitive.
Companies in the musical instruments market are increasingly focusing on integrating sensors into their instruments to create advanced models. These sensors can capture various performer gestures, including free-space movements, hand positions, and body movements. This capability enables musicians to control and manipulate electronic and digital music in real-time during live performances. For example, in December 2022, Bulgarian musicians developed a colorful musical instrument specifically designed for deaf and blind children. This instrument features various textures and shapes that allow visually impaired children to explore and identify different parts through touch. Bright colors are incorporated to engage children visually, assisting those with partial sight in distinguishing between different sections of the instrument. Tailored to be accessible for children with disabilities, the instrument promotes inclusivity in music education and enjoyment. Its design prioritizes ease of use, enabling children to play without needing extensive instructions, thereby fostering independence and creativity.
In September 2024, John Packer Musical Instruments (JPMI), a UK-based retailer and manufacturer of musical instruments, acquired Taylor Trumpets for an undisclosed sum. Through this acquisition, JPMI intends to enhance its product lineup with high-quality, hand-crafted brass instruments, such as trumpets, cornets, and flugelhorns. This addition enables JPMI to serve a wider customer base. Taylor Trumpets is a UK-based manufacturer of brass instruments.
Major companies operating in the musical instruments market include Yamaha Corporation, Fender Musical Instruments Corporation, Roland Corporation, Steinway Musical Instruments Inc, Gibson Brands Inc, Casio Computer Co Ltd, Guangzhou Pearl River Piano Group Co Ltd, HOSHINO GAKKI CO LTD, Eastman Music Company, C.F. Martin & Co Inc, Aria Guitars Co, Ishibashi Music Corporation, Shimokura Musical Instruments, GT Mfg. Inc, Bhatia Musicals, National Musical Instruments Factory Ltd, Zhangqiu Tongxiang Musical Instrument Factory, Tianjin Leo Musical Instruments Co., Ltd, Jiyi Musical Instruments Co Ltd, Shenzhen Gmax Musical Instrument Ltd, Medeli Electronics (Shanghai) Co Ltd, Wuhan Eleca Electronics Co Ltd, Ridenour Clarinet Products U.K. Ltd, Clarinet Company, Andertons Music Co, Ackerman Music Ltd, John Packer Ltd, London Musical Instruments Ltd, Normans Musical Instruments, Presentation Rentals Ltd, Tony Bingham, Wharfedale, Centrum Muzyczne LEMANSKI, da capo - galeria instrumentow, Gitary Mayones s.c, Strunal Schonbach s.r.o, K&W MEYER Sp. z o.o, SIBA s.r.o, Portland Music Company, Strait Music Company, Harman International Industries, Shure Incorporated, Gemini Machines Export, Fabiollo Peselimaare, Central do, Borb Oliver Importacao e Comercio de Instrumentos Musicais Ltda, Drum Lugs International, Gope Instrumentos Musicais Ltda, POWER MUSIC, MusicMajlis, Ethnic Musical Instruments, Aiwa, X8 Drums, Avedis Zildjian Company, Agean Cymbals, Ase Muzik - AydIn Saz Evi, Show Gear Network, Am Discovery Musical Instruments, Musiekwereld, Polliacks Music Instruments, Saramonic Music Instruments
Asia-Pacific was the largest region in the musical instruments market in 2024. The regions covered in the musical instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the musical instruments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The musical instrument market consists of sales of piano, drum, and flute. 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.
Musical Instruments Global Market Report 2025 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 musical instruments 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.
Where is the largest and fastest growing market for musical instruments ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The musical instruments 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.