Heritage Guitar

Jan 19, 2023

News provided by Share this article Share this article NEW YORK, Jan. 19, 2023 /PRNewswire/ -- The global electric guitar market size is estimated to increase by USD 955.77 million between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 7.75% during the forecast period. The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. Discover some insights on market size before buying the full report -  Request a sample report Electric guitar market - Customer Landscape To help companies evaluate and develop growth strategies, the report outlines – Key purchase criteria Electric guitar market – Vendor Analysis Vendor Landscape - The global electric guitar market is fragmented. The market consists of some well-established vendors that are involved in designing, developing and manufacturing electric guitars. Many vendors have their manufacturing bases and facilities in developed countries. They supply various types of electric guitars through both online and offline distribution channels. Prominent vendors are working on improving their capabilities to develop and manufacture electric guitars to gain a competitive advantage. A few prominent vendors that offer electric guitars in the market are Dean Guitars, Farida, Fender Musical Instruments Corp., Fernandes Co. Ltd., Fujigen Inc., Gibson Brands Inc., Heritage Guitar Inc., HOSHINO GAKKI Co. Ltd., JAM Industries USA LLC, Karl Hofner GmbH and Co. KG, Paul Reed Smith Guitars, Peavey Electronics Corp., Rickenbacker International Corp., Samson Technologies Corp., Schecter Guitar Research Inc., Taylor Listug Inc., The ESP Guitar Co., Tokai Gakki Co.Ltd., Yamaha Corp., and CorTek Corp. and others. Vendor Offerings - Farida - The company offers electric guitars such as VBS acoustic guitar and wide VBS acoustic guitar. Fernandes Co. Ltd. - The company offers electric guitars such as American Professional II Stratocaster, American Professional II Telecaster and American Professional II Jazzmaster. Heritage Guitar Inc. - The company offers electric guitars such as Les paul, Explorer and Firebird. HOSHINO GAKKI Co. Ltd. - The company offers a wide range of drum kits, snare drums, original percussion, hardware, microphone stands, sticks, bags, and accessories. Electric guitar market - Segmentation Assessment Segment Overview Technavio has segmented the market based on the product (solid-body, semi-hollow body, hollow body, and accessories), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The solid-body segment will grow significantly during the forecast period. The segment is driven by the high adoption of solid-body electric guitars in developing countries. The high affordability and availability of these guitars have increased their adoption in countries such as India and Brazil. Geography Overview By geography, the global electric guitar market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global electric guitar market. North America will account for 54% of the growth of the global market during the forecast period. The growth of the regional market is driven by factors such as the launch of innovative products, the increasing sales of electric guitars on online platforms, and the rising demand for customized electric guitars. Also, increased funding from sponsors to organize music festivals is increasing the demand for electrical guitars in North America. Leading Drivers –  The market is driven by the rising number of music festivals and live events. The number of music festivals, concerts, and entertainment events has been increasing across the world. This growth can be attributed to the presence of a large base of the young population and a surge in disposable income. In 2019, more than 29 million people attended live concerts in the UK. Similarly, every year, more than 50% of the population in the US attends some kind of musical event. These factors have led to an increase in the number of live performances and concerts by musicians, artists, dancers, and comedians. This is fostering the growth of the global electrical guitar market. Key Trends –  The increasing demand for customized electronic musical instruments is a key trend in the market. The demand for the customization of electric guitars is increasing at a rapid pace. This is evident in developed regions, such as North America and Europe. Developing countries such as India and China are also experiencing a rise in the demand for customized electronic musical instruments. This is encouraging vendors to offer a wide range of customization options to make their products more appealing to customers. For instance, C. F. Martin & Co. Inc. allows its customers to choose from various shapes and sizes, select from premium exotic and traditional hardwood options, design their inlays, and customize the shape, style, and design of guitar necks. This trend will positively influence the growth of the market during the forecast period. Major challenges –  High costs involved in the production of musical instruments are challenging the growth of the market. The manufacture of musical instruments such as electrical guitars involves the use of various raw materials such as wood, metal, and synthetic materials derived from petrochemicals. Any increase in the prices of these raw materials leads to an increase in the overall manufacturing cost of electric guitars. Fluctuating prices of crude oil also affect the cost of electric guitars as many composite materials are used in the manufacturing process. These factors might hinder the growth of the market in focus. CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the electric guitar market between 2023 and 2027 Precise estimation of the size of the electric guitar market size and its contribution to the market in focus on the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the electric guitar market industry across North America, Europe, APAC, South America, and Middle East and Africa A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of electric guitar market vendors Gain instant access to 17,000+ market research reports. Related Reports: The guitar market size is expected to increase by USD 1.29 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.63%. The growing popularity of music-related leisure activities is notably driving the guitar market growth, although factors such as the long replacement cycle may impede the market growth. The electronic musical instruments market size is expected to increase by USD 505.09 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.09%. The growing demand for music-related leisure activities is notably driving the growth, although factors such as the increasing adoption of virtual musical instruments and music production software may impede the market growth. Electric Guitar Market Scope Key companies profiled Dean Guitars, Farida, Fender Musical Instruments Corp., Fernandes Co. Ltd., Fujigen Inc., Gibson Brands Inc., Heritage Guitar Inc., HOSHINO GAKKI Co. Ltd., JAM Industries USA LLC, Karl Hofner GmbH and Co. KG, Paul Reed Smith Guitars, Peavey Electronics Corp., Rickenbacker International Corp., Samson Technologies Corp., Schecter Guitar Research Inc., Taylor Listug Inc., The ESP Guitar Co., Tokai Gakki Co.Ltd., Yamaha Corp., and CorTek Corp. Market dynamics Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. Table of contents: Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million) Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million) Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%) Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%) 4 Historic Market Size Exhibit 18: Historic Market Size – Data Table on Global electric guitar market 2017 - 2021 ($ million) 4.2 Product Segment Analysis 2017 - 2021  Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million) 4.3 Distribution channel Segment Analysis 2017 - 2021 Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million) 4.4 Geography Segment Analysis 2017 - 2021  Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million) 4.5 Country Segment Analysis 2017 - 2021  Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million) 5 Five Forces Analysis Exhibit 33: Data Table on Comparison by Product 6.3 Solid-body - Market size and forecast 2022-2027 Exhibit 34: Chart on Solid-body - Market size and forecast 2022-2027 ($ million) Exhibit 35: Data Table on Solid-body - Market size and forecast 2022-2027 ($ million) Exhibit 36: Chart on Solid-body - Year-over-year growth 2022-2027 (%) Exhibit 37: Data Table on Solid-body - Year-over-year growth 2022-2027 (%) 6.4 Semi-hollow body - Market size and forecast 2022-2027 Exhibit 38: Chart on Semi-hollow body - Market size and forecast 2022-2027 ($ million) Exhibit 39: Data Table on Semi-hollow body - Market size and forecast 2022-2027 ($ million) Exhibit 40: Chart on Semi-hollow body - Year-over-year growth 2022-2027 (%) Exhibit 41: Data Table on Semi-hollow body - Year-over-year growth 2022-2027 (%) 6.5 Hollow body - Market size and forecast 2022-2027 Exhibit 42: Chart on Hollow body - Market size and forecast 2022-2027 ($ million) Exhibit 43: Data Table on Hollow body - Market size and forecast 2022-2027 ($ million) Exhibit 44: Chart on Hollow body - Year-over-year growth 2022-2027 (%) Exhibit 45: Data Table on Hollow body - Year-over-year growth 2022-2027 (%) 6.6 Accessories - Market size and forecast 2022-2027 Exhibit 46: Chart on Accessories - Market size and forecast 2022-2027 ($ million) Exhibit 47: Data Table on Accessories - Market size and forecast 2022-2027 ($ million) Exhibit 48: Chart on Accessories - Year-over-year growth 2022-2027 (%) Exhibit 49: Data Table on Accessories - Year-over-year growth 2022-2027 (%) 6.7 Market opportunity by Product  Exhibit 50: Market opportunity by Product ($ million) 7 Market Segmentation by Distribution Channel 7.1 Market segments  Exhibit 52: Data Table on Distribution Channel - Market share 2022-2027 (%) 7.2 Comparison by Distribution Channel  Exhibit 53: Chart on Comparison by Distribution Channel Exhibit 54: Data Table on Comparison by Distribution Channel 7.3 Offline - Market size and forecast 2022-2027 Exhibit 55: Chart on Offline - Market size and forecast 2022-2027 ($ million) Exhibit 56: Data Table on Offline - Market size and forecast 2022-2027 ($ million) Exhibit 57: Chart on Offline - Year-over-year growth 2022-2027 (%) Exhibit 58: Data Table on Offline - Year-over-year growth 2022-2027 (%) 7.4 Online - Market size and forecast 2022-2027 Exhibit 59: Chart on Online - Market size and forecast 2022-2027 ($ million) Exhibit 60: Data Table on Online - Market size and forecast 2022-2027 ($ million) Exhibit 61: Chart on Online - Year-over-year growth 2022-2027 (%) Exhibit 62: Data Table on Online - Year-over-year growth 2022-2027 (%) 7.5 Market opportunity by Distribution Channel Exhibit 63: Market opportunity by Distribution Channel ($ million) 8 Customer Landscape Exhibit 68: Data Table on Geographic comparison 9.3 North America - Market size and forecast 2022-2027 Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million) Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million) Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%) Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%) 9.4 Europe - Market size and forecast 2022-2027 Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%) Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%) 9.5 APAC - Market size and forecast 2022-2027 Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%) Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%) 9.6 South America - Market size and forecast 2022-2027 Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million) Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million) Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%) Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%) 9.7 Middle East and Africa - Market size and forecast 2022-2027  Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%) Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%) 9.8 US - Market size and forecast 2022-2027 Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million) Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million) Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%) Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%) 9.9 China - Market size and forecast 2022-2027 Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million) Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million) Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%) Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%) 9.10 Canada - Market size and forecast 2022-2027 Exhibit 97: Chart on Canada - Market size and forecast 2022-2027 ($ million) Exhibit 98: Data Table on Canada - Market size and forecast 2022-2027 ($ million) Exhibit 99: Chart on Canada - Year-over-year growth 2022-2027 (%) Exhibit 100: Data Table on Canada - Year-over-year growth 2022-2027 (%) 9.11 Germany - Market size and forecast 2022-2027 Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%) Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%) 9.12 Japan - Market size and forecast 2022-2027 Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 ($ million) Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 ($ million) Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%) Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%) 9.13 Market opportunity by geography  Exhibit 109: Market opportunity by geography ($ million) 10 Drivers, Challenges, and Trends 10.1 Market drivers Exhibit 110: Impact of drivers and challenges in 2022 and 2027 10.4 Market trends 11.3 Landscape disruption  11.4 Industry risks  About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contact