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NEW YORK, June 8, 2023 /PRNewswire/ — The guitar market is estimated to grow by USD 1.29 billion from 2021 to 2026. The market is estimated to be growing at a CAGR of 5.63% during the forecast period. North America is estimated to account for 42% of the global market growth during the forecast period. Factors such as the growing use of online platforms to shop for guitars, the launch of innovative products, and the surging demand for designer guitars facilitate the guitar market growth in North America over the forecast period. The market in this region will grow faster than the growth of the market in the European regions. Hence, such factors drive the regional market growth during the forecast period. For Comprehensive details on the market size, historic period (2017 to 2021), and forecast period (2023-2027) – View Sample report

Guitar Market – Vendor Landscape
The guitar market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances and the price of the products –The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now

Guitar Market – Market Dynamics

Major Drivers & Challenges- 

A major factor driving growth of the guitar market is the growing popularity of music-related leisure activities. Globally, people opt for various leisure activities, such as music, traveling, and sports. Such activities offer a break from their hectic and monotonous lifestyles and one of the leisure activities gaining popularity across the globe is learning to play musical instruments. The rising disposable income of people supports the adoption of different musical instruments and their enrollment in music classes. Furthermore, the number of live music shows and those attending such shows is growing rapidly across the world. Hence, such factors drive the growth of the guitar market during the forecast period.

The long replacement cycle will be a major challenge hindering the guitar market during the forecast period. Given their reliability and quality, consumers prefer branded guitars. Since the lifespan of guitars depends on several factors including the environment and the type and ways of playing music, vendors design guitars to withstand extreme operational conditions. These days, vendors manufacture guitars made of high-grade wood and other raw materials, making them lightweight and durable. They also carry out in-depth R&D to introduce innovative and durable materials to extend the lifespan of guitars. Generally, the average lifespan of acoustic guitars is ten years, whereas the average lifespan of electric guitars is almost 20-30 years. But the long lifespan of guitars reduces the frequency of product replacements, which adversely affects the year-over-year growth of the market. hence, such challenges impede market growth during the forecast period.

Key Trends–

The growing online retailing is a guitar market trend that is expected to have a positive impact during the forecast period. Due to the growth of the global guitar market, the online market for musical instruments has grown significantly in the past couple of years. The increase in product visibility, coupled with the availability of a comprehensive range of products, helps online retailing grow globally.  Online retailing is expected to grow faster than offline retailing during the forecast period, even though it accounts for a small share of the global guitar market. Hence, factors such as rising consumer awareness about the existence of various online retail platforms are contributing to the growth of online retailing in the global guitar market.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View Sample Report

Company Profiles

The guitar market report includes information on the product launches, sustainability, and prospects of leading vendors including B.C. Rich Guitars, BBE Sound Inc, C. F. Martin and Co. Inc., Cor-Tek Corp., Cordoba Music Group, Dean Guitars, Drum Workshop Inc., Fender Musical Instruments Corp., Gibson Brands Inc., Godin Guitars, Gretsch Guitars, HOSHINO GAKKI Co. Ltd., Karl Hofner GmbH and Co. KG, Kiesel Guitars, Paul Reed Smith Guitars, Rickenbacker International Corp., Schecter Guitar Research Inc., Taylor Listug Inc., The ESP Guitar Co., and Yamaha Corp.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

Guitar Market – Market Segmentation

This report extensively covers guitar market segmentation by product (acoustic and electric) and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The market share growth by the acoustic segment will be significant during the forecast period. The rapid growth of the segment can be attributed to the high adoption of acoustic guitars in developing countries. In developed markets, such as the US and the UK, the demand for acoustic guitars is almost stagnant. But acoustic guitars witness huge demand in developing countries, such as India and Brazil. This is because of their high affordability and availability, coupled with their low cost and low initial investment requirement, compared with electric guitars. Hence, such factors drive the segment growth during the forecast period.

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis – Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Product

• 5.1 Market segments 
• Exhibit 24: Chart on Product – Market share 2021-2026 (%)
• Exhibit 25: Data Table on Product – Market share 2021-2026 (%)

• 5.2 Comparison by Product 
• Exhibit 26: Chart on Comparison by Product
• Exhibit 27: Data Table on Comparison by Product

• 5.3 Acoustic – Market size and forecast 2021-2026
• Exhibit 28: Chart on Acoustic – Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Acoustic – Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Acoustic – Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Acoustic – Year-over-year growth 2021-2026 (%)

• 5.4 Electric – Market size and forecast 2021-2026
• Exhibit 32: Chart on Electric – Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Electric – Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Electric – Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Electric – Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Product 
• Exhibit 36: Market opportunity by Product ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 North America – Market size and forecast 2021-2026
• Exhibit 42: Chart on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on North America – Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on North America – Year-over-year growth 2021-2026 (%)

• 7.4 Europe – Market size and forecast 2021-2026
• Exhibit 46: Chart on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on Europe – Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Europe – Year-over-year growth 2021-2026 (%)

• 7.5 APAC – Market size and forecast 2021-2026
• Exhibit 50: Chart on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on APAC – Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on APAC – Year-over-year growth 2021-2026 (%)

• 7.6 South America – Market size and forecast 2021-2026
• Exhibit 54: Chart on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on South America – Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on South America – Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa – Market size and forecast 2021-2026 
• Exhibit 58: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)

• 7.8 US – Market size and forecast 2021-2026
• Exhibit 62: Chart on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on US – Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on US – Year-over-year growth 2021-2026 (%)

• 7.9 China – Market size and forecast 2021-2026
• Exhibit 66: Chart on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on China – Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China – Year-over-year growth 2021-2026 (%)

• 7.10 Canada – Market size and forecast 2021-2026
• Exhibit 70: Chart on Canada – Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on Canada – Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on Canada – Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on Canada – Year-over-year growth 2021-2026 (%)

• 7.11 Germany – Market size and forecast 2021-2026
• Exhibit 74: Chart on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Germany – Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Germany – Year-over-year growth 2021-2026 (%)

• 7.12 Japan – Market size and forecast 2021-2026
• Exhibit 78: Chart on Japan – Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Japan – Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Japan – Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.3 Impact of drivers and challenges 
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

9 Vendor Landscape

• 9.2 Vendor landscape 
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 88: Matrix on vendor position and classification

• 10.3 C. F. Martin and Co. Inc. 
• Exhibit 89: C. F. Martin and Co. Inc. – Overview
• Exhibit 90: C. F. Martin and Co. Inc. – Product / Service
• Exhibit 91: C. F. Martin and Co. Inc. – Key news
• Exhibit 92: C. F. Martin and Co. Inc. – Key offerings

• 10.4 Fender Musical Instruments Corp. 
• Exhibit 93: Fender Musical Instruments Corp. – Overview
• Exhibit 94: Fender Musical Instruments Corp. – Product / Service
• Exhibit 95: Fender Musical Instruments Corp. – Key news
• Exhibit 96: Fender Musical Instruments Corp. – Key offerings

• 10.5 Gibson Brands Inc. 
• Exhibit 97: Gibson Brands Inc. – Overview
• Exhibit 98: Gibson Brands Inc. – Product / Service
• Exhibit 99: Gibson Brands Inc. – Key news
• Exhibit 100: Gibson Brands Inc. – Key offerings

• 10.6 HOSHINO GAKKI Co. Ltd. 
• Exhibit 101: HOSHINO GAKKI Co. Ltd. – Overview
• Exhibit 102: HOSHINO GAKKI Co. Ltd. – Product / Service
• Exhibit 103: HOSHINO GAKKI Co. Ltd. – Key offerings

• 10.7 Karl Hofner GmbH and Co. KG 
• Exhibit 104: Karl Hofner GmbH and Co. KG – Overview
• Exhibit 105: Karl Hofner GmbH and Co. KG – Product / Service
• Exhibit 106: Karl Hofner GmbH and Co. KG – Key offerings

• 10.8 Paul Reed Smith Guitars 
• Exhibit 107: Paul Reed Smith Guitars – Overview
• Exhibit 108: Paul Reed Smith Guitars – Product / Service
• Exhibit 109: Paul Reed Smith Guitars – Key offerings

• 10.9 Rickenbacker International Corp. 
• Exhibit 110: Rickenbacker International Corp. – Overview
• Exhibit 111: Rickenbacker International Corp. – Product / Service
• Exhibit 112: Rickenbacker International Corp. – Key offerings

• 10.10 Schecter Guitar Research Inc. 
• Exhibit 113: Schecter Guitar Research Inc. – Overview
• Exhibit 114: Schecter Guitar Research Inc. – Product / Service
• Exhibit 115: Schecter Guitar Research Inc. – Key offerings

• 10.11 Taylor Listug Inc. 
• Exhibit 116: Taylor Listug Inc. – Overview
• Exhibit 117: Taylor Listug Inc. – Product / Service
• Exhibit 118: Taylor Listug Inc. – Key offerings

• 10.12 Yamaha Corp. 
• Exhibit 119: Yamaha Corp. – Overview
• Exhibit 120: Yamaha Corp. – Business segments
• Exhibit 121: Yamaha Corp. – Key news
• Exhibit 122: Yamaha Corp. – Key offerings
• Exhibit 123: Yamaha Corp. – Segment focus

11 Appendix

• 11.1 Scope of the report 

• 11.2 Inclusions and exclusions checklist
• Exhibit 124: Inclusions checklist
• Exhibit 125: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 126: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 127: Research methodology
• Exhibit 128: Validation techniques employed for market sizing
• Exhibit 129: Information sources

• 11.5 List of abbreviations 
• Exhibit 130: List of abbreviations 

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.

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