The global electric guitars market size reached US$ 3.1 Billion in 2023. Looking forward, the market is projected to reach US$ 5.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.14% during 2023-2032. Increasing number of guitarists, rising influence of social media, and the easy availability through e-commerce channels represent some of the key factors driving the market.
Electric guitars represents one of the most popular musical instrument with a solid or semi hollow body and a neck with a fingerboard. They use a pickup and an amplifier to produce sound and are generally used in several musical genres, such as rock, jazz, blues, pop, country, and metal. They are capable of producing various sounds and effects, such as reverb, distortion, and overdrive, and can be connected to other devices, including pedals and recording equipment.
At present, key players are launching novel variants like modular and customizable electric guitars that allow players to easily swap out parts and create unique instruments as per their requirements. They are also incorporating high tech features, such as built-in effects, wireless connectivity, and digital modeling in electric guitars to offer a wide range of sounds and playing options.
Furthermore, the growing influence of social media, which makes it easier for artists to share their work and connect with fans, is presently creating a positive outlook for the market. Besides this, there is an increase in the integration of computer-aided design (CAD), computer aided manufacturing (CAM), 3D printing, and sensors to design, test the shape, control, and optimize the manufacturing processes to produce different parts of the electric guitars. This, coupled with the rising utilization of robotics to automate manufacturing processes, such as woodworking and assembling, is strengthening the growth of the market. Additionally, the expanding number of online shopping channels that offer a wide range of variants in different colors is influencing the sales of electric guitars across the globe.
Martin & Company, Cort Guitars, Dean Guitars, Fender Musical Instruments Corporation (Servco Pacific Inc.), Gibson Brands Inc., Hoshino Gakki Co. Ltd., Karl Höfner GmbH & Co. KG, Michael Kelly Guitar Co., Paul Reed Smith Guitars, Samick Musical Instrument Co. Ltd., Yamaha Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Electric guitars represents one of the most popular musical instrument with a solid or semi hollow body and a neck with a fingerboard. They use a pickup and an amplifier to produce sound and are generally used in several musical genres, such as rock, jazz, blues, pop, country, and metal. They are capable of producing various sounds and effects, such as reverb, distortion, and overdrive, and can be connected to other devices, including pedals and recording equipment.
At present, key players are launching novel variants like modular and customizable electric guitars that allow players to easily swap out parts and create unique instruments as per their requirements. They are also incorporating high tech features, such as built-in effects, wireless connectivity, and digital modeling in electric guitars to offer a wide range of sounds and playing options.
Electric Guitars Market Trends
The increasing interest in music among individuals and the rising number of guitarists currently represent one of the major factors driving the demand for electric guitars around the world. Moreover, the growing popularity of electric guitars on account of rapid urbanization and inflating income levels are influencing the market positively. In addition, the expanding number of music festivals and live concerts is bolstering the growth of the market. Apart from this, the rising number of music institutions, clubs, and associations is catalyzing the demand for electric guitars worldwide.Furthermore, the growing influence of social media, which makes it easier for artists to share their work and connect with fans, is presently creating a positive outlook for the market. Besides this, there is an increase in the integration of computer-aided design (CAD), computer aided manufacturing (CAM), 3D printing, and sensors to design, test the shape, control, and optimize the manufacturing processes to produce different parts of the electric guitars. This, coupled with the rising utilization of robotics to automate manufacturing processes, such as woodworking and assembling, is strengthening the growth of the market. Additionally, the expanding number of online shopping channels that offer a wide range of variants in different colors is influencing the sales of electric guitars across the globe.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global electric guitars market, along with forecasts at the global, regional, and country level from 2024-2032. The report has categorized the market based on type, price, distribution channel, and end user.Type Insights:
- Electric Acoustic Guitar
- Seven String Guitar
- Solid Body Guitar
- Hollow Body Guitars
- Others
Price Insights:
- Low
- Medium
- High
Distribution Channel Insights:
- Online
- Offline
End User Insights:
- Professionals
- Learners
- Individual Amateurs
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global electric guitars market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered C. F.Martin & Company, Cort Guitars, Dean Guitars, Fender Musical Instruments Corporation (Servco Pacific Inc.), Gibson Brands Inc., Hoshino Gakki Co. Ltd., Karl Höfner GmbH & Co. KG, Michael Kelly Guitar Co., Paul Reed Smith Guitars, Samick Musical Instrument Co. Ltd., Yamaha Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
- How has the global electric guitars market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global electric guitars market?
- What is the impact of each driver, restraint, and opportunity on the global electric guitars market?
- What are the key regional markets?
- Which countries represent the most attractive electric guitars markets?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the electric guitars market?
- What is the breakup of the market based on the price?
- Which is the most attractive price in the electric guitars market?
- What is the breakup of the market based on the distribution channel?
- Which is the most attractive distribution channel in the electric guitars market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the electric guitars market?
- What is the competitive structure of the global electric guitars market?
- Who are the key players/companies in the global electric guitars market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Electric Guitars Market
6 Market Breakup by Type
7 Market Breakup by Price
8 Market Breakup by Distribution Channel
9 Market Breakup by End User
10 Market Breakup by Region
11 Drivers, Restraints, and Opportunities
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- C. F. Martin & Company
- Cort Guitars
- Dean Guitars
- Fender Musical Instruments Corporation (Servco Pacific Inc.)
- Gibson Brands Inc.
- Hoshino Gakki Co. Ltd.
- Karl Höfner GmbH & Co. KG
- Michael Kelly Guitar Co. Paul Reed Smith Guitars
- Samick Musical Instrument Co. Ltd.
- Yamaha Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 136 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 3.1 Billion |
| Forecasted Market Value ( USD | $ 5.3 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
