The guitar is a fretted musical instrument that usually has six strings. It is typically played with both hands by strumming or plucking the strings with either a guitar picks or the finger(s)/fingernails of one hand, while simultaneously fretting (pressing the strings against the frets) with the fingers of the other hand. The sound of the vibrating strings is projected either acoustically, by means of the hollow chamber of the guitar (for an acoustic guitar), or through an electrical amplifier and a speaker.
Market Snapshot
This report categorizes the market with various types, applications, companies, and regions. It focuses on the present scenario and the future growth of the global Guitar market, especially in regions like North America, Asia-Pacific, Europe, South America, Middle East and Africa.
The global Guitar market is projected to grow from USD xxxx million in 2019 to USD xxxx million by 2026, at a CAGR of xxxx% during this period.
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Competitive Landscape
Fender Musical Instruments
Gibson Brands
Karl Höfner
PRS Guitars
Yamaha
B.C. Rich Guitars
C.F. Martin
Carvin
Cort
Dean Guitars
ESP
G&L Musical Instruments
Godin
Ibanez
Growth Driver
The rising number of concerts and live performances are the major factors that driving the Guitar market growth. More and more young people who interested in music has led to the formation of numerous musical bands that perform various types of music like blues, pop, rock, metal, and electronica, which help the Guitar market to gain size. Furthermore, an increase in the disposable income of consumers, change in lifestyle, higher living standard, and more importance attached on leisure activities such as music are some of the other crucial factors that expected to propel market growth.
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Regional Overview
North America holds the major market share. The Americas will be the major revenue contributor to the market throughout the forecast period. The availability of career opportunities in music in this region that leads to a rise in the number of singers and musicians, is one of the major factors fueling the demand for guitars. Additionally, the constant demand for live music and concerts that result in an increased number of dance clubs and pubs and the popularity of Latin music, will also propel the guitar market’s growth prospects in the Americas. The Asia Pacific is anticipated to grow at the highest rate during the forecast period, this trend is mainly attributed to the increasing income and higher living standard in this region.
Type Overview
Important types of the product covered in this report include Acoustic guitars and Electric guitars.
During 2018, the acoustic guitars segment accounted for the major shares and dominated this market. Being less expensive and easier to learn, the acoustic guitars are mainly preferred by beginners. The increased availability of free web-based learning materials, the rising number of independent musicians across the globe, and the growing sales of acoustic or classical guitars in the developing countries such as Brazil, India, and Taiwan, will be major factors fueling the growth of this market segment.
Application Overview
Based on application, this market is divided into Online retail and Offline retail.
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Target Audience:
• Guitar manufacturers
• Raw material suppliers of Guitar
• Distributors and resellers of Guitar
• Guitar industry associations
• Product managers, Guitar industry administrator, C-level executives of the industries
• Market Research and consulting firms
• Base Year: 2018
• Estimated Year: 2019
• Forecast Period: 2019 to 2026
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