Guitar Market Report 2026

The guitar market size has grown strongly in recent years. It will grow from $9.96 billion in 2025 to $10.78 billion in 2026 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to rising interest in music education, growth of live music culture, expansion of retail music stores, affordability of acoustic guitars, influence of popular musicians.

The guitar market size is expected to see strong growth in the next few years. It will grow to $14.13 billion in 2030 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to increase in digital music creation, growth of e-commerce sales, rising disposable income among youth, expansion of virtual music communities, innovation in guitar materials. Major trends in the forecast period include growth of online music learning platforms, rising demand for beginner and entry-level guitars, increasing customization and design innovation, expansion of electric and hybrid guitar variants, growing popularity of home music production.

The growing popularity of live musical performances and concerts is driving the growth of the guitar market. Live performances and concerts enhance mood, boost emotions, promote well-being, and provide social interaction opportunities. They bring people together, uniting audiences with similar music tastes and creating connections with artists. Live events also allow guitar manufacturers and brands to showcase their products to an engaged audience of music enthusiasts. For example, in October 2024, according to Prism.fm, a US-based concert and live event management platform, the global live music market grew by 25% in 2023 compared to 2022, reaching $33 billion, and is projected to reach $50 billion by 2030. Therefore, the rise in live music performances and concerts is increasing demand for guitars.

Key players in the guitar market are concentrating on developing innovative products, such as ergonomic and lightweight models, to gain a competitive advantage. An ergonomic and lightweight guitar is designed with a focus on comfort, ease of playability, and reduced physical strain for the player. For instance, in October 2023, Fender Musical Instruments Corporation (FMIC), a US-based manufacturer of musical instruments and amplifiers, introduced The Highway Series. This series features guitars that are both ergonomic and lightweight, equipped with fully integrated Fishman pickup systems and advanced features for a road-ready sound. The Highway Series aims to redefine the acoustic guitar experience by blending modern innovations with the timeless aesthetics of traditional guitars. These guitars are constructed with a feedback-resistant, ergonomic design and Fishman Fluence pickups for seamless setup, offering a classic acoustic guitar vibe with upgraded features tailored to today's live acoustic performers.

In February 2023, Yamaha Guitar Group, a U.S.-based musical instrument manufacturer, acquired Cordoba Music Group for an undisclosed amount. This acquisition expanded Yamaha Guitar Group’s product portfolio and market presence, particularly in the niche of classical and nylon-stringed guitars, complementing its established expertise in electric and steel-string acoustic guitars. Cordoba Music Group, also based in the U.S., specializes in nylon-string guitars, ukuleles, and other musical instruments.

Major companies operating in the guitar market are Yamaha Corporation, Gibson Brands Inc., Taylor Guitars, Fender Musical Instruments Corporation, Martin Guitar Company, Eastman Guitars, PRS Guitars, Collings Guitars, Schecter Guitar Research, Godin Guitars, Rickenbacker International Corporation, Dean Guitars, Takamine Guitars, Washburn Guitars, Breedlove Guitars, Guild Guitars, ESP Guitars, Ibanez, Jackson Guitars, Alvarez Guitars, Cort Guitars, Epiphone, G&L Musical Instruments, Gretsch Company, Music Man, Ovation Guitars, Seagull Guitars.

Asia-Pacific was the largest region in the guitar market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the guitar market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the guitar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The guitar market consists of sales of bass guitars, classical guitar, archtop guitar, resonator guitar and resonator guitar. 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.

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