Guitar Pedals Market Report 2024

The guitar pedals market size has grown strongly in recent years. It will grow from $3.46 billion in 2023 to $3.64 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The expansion observed in the historical period can be linked to the rise of home recording studios, the expansion of social media platforms, a surge in guitar sales, the growth of educational resources for musicians, and increased spending on musical instruments.

The guitar pedals market size is expected to see strong growth in the next few years. It will grow to $4.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period is expected to stem from the increasing popularity of electric guitars, the expanding music industry, the rising appeal of Western music genres, a growing demand for live performances, and a rising number of music fans. Key trends anticipated in the forecast period include advancements in technology, digital pedals, integration with mobile tech, subscription services, and MIDI integration.

The growing number of music concerts is expected to drive the expansion of the guitar pedal market in the coming years. Music concerts are live performances where musicians engage with audiences, showcasing their talent and connecting with fans in a communal atmosphere enriched by sound and visual effects. The rise in music concerts can be attributed to increasing demand for live entertainment, advancements in event promotion and ticketing technologies, and the global reach of music fandom, enabling artists to engage with larger and more diverse audiences worldwide. Guitar pedals enhance musicians' ability to create versatile and distinctive sounds during live performances, helping them attract more followers and contributing to the diverse appeal of music concerts. For example, according to UK Music, the UK hosted 14.4 million music tourists in 2022, including 1.1 million international visitors and 13.3 million domestic attendees at live music events. Thus, the increasing prevalence of music concerts is fueling growth within the guitar pedal market.

Leading companies in the guitar pedal market are concentrating on developing advanced products such as X-GEAR effects pedals to elevate sound processing capabilities and meet evolving musician demands globally. X-GEAR effects pedals, developed by Line 6, a renowned innovator in music technology, combine robust audio processing with durable construction suitable for stage use. For instance, in July 2021, IK Multimedia introduced AmpliTube X-GEAR Pedals, which integrate cutting-edge digital modeling with the rich tones of boutique pedals. This innovation provides musicians with versatile effects, compact design for convenience, and cost-effective access to customizable sounds, seamlessly transitioning from studio recordings to live performances.

In April 2022, Cor-Tek Corporation, a South Korea-based manufacturer of musical instruments, acquired DigiTech to strengthen its market position in the guitar effects pedal industry. DigiTech, a US-based company, specializes in producing a wide array of effect pedals for electric and bass guitars, complementing Cor-Tek's existing product portfolio and enhancing its presence in the global market.

Major companies operating in the guitar pedals market are Roland Corporation, Kemper GmbH, Zoom Corporation, Wuhan Kailing Electronic Co. Ltd., DigiTech, Voodoo Lab Inc., Line 6 Inc., Korg Inc., Eventide Inc., Dunlop Manufacturing Inc., TC-Helicon, EarthQuaker Devices LLC, Xotic Effects LLC, Keeley Electronics Inc., Electro-Harmonix, Empress Effects, Fulltone Musical Products Inc., Ibanez, Damage Control Engineering LLC, Mooer Audio Co. Ltd., Wampler Pedals LLC, JHS Inc., Alexander Pedals, Red Witch Analog Pedals, Origin Effects, Source Audio LLC.

North America was the largest region in the guitar pedals market in 2023. The regions covered in the guitar pedals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the guitar pedals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Guitar pedals are small electronic devices designed to alter the sound of an electric guitar. They add effects such as distortion, delay, reverb, and modulation to change the guitar’s tone and produce a range of sounds. These pedals are placed in the signal chain between the guitar and the amplifier, allowing musicians to enhance, adjust, or completely transform their guitar tones.

The primary categories of guitar pedals include gain effects, compressors, pitch effects, volume pedals, filter effects, and time-based effects, among others. Gain effects are used to adjust the signal strength of an electric guitar, either enhancing or distorting its sound. Common types of gain effects pedals are overdrive, distortion, and fuzz, each modifying the instrument's tone and dynamics. Pedals come in various forms, such as stomp boxes, multi-effects units, and rack-mounted devices, and utilize both analog and digital technologies. They are used by both professional and amateur musicians and are available through numerous distribution channels, both online and offline.

The guitar pedals market research report is one of a series of new reports that provides guitar pedals market statistics, including guitar pedals industry global market size, regional shares, competitors with a guitar pedals market share, detailed guitar pedals market segments, market trends, and opportunities, and any further data you may need to thrive in the guitar pedals industry. This guitar pedals research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The guitar pedals market consists of sales of distortion pedals, delay pedals, reverb pedals, modulation pedals, and overdrive pedals. 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.


This product will be delivered within 3-5 business days.