Musical Instruments Market Manufacturers, Research Methodology, Competitive Landscape and Business Opportunities by 2025

The global musical instruments market size was valued at USD 7.5 billion in 2018. An increase in the penetration of digital musical instruments is anticipated to drive the market over the forecast period. Further, the inclination of music as a hobby in the millennial generation is also set to propel the market growth over the next few years. Approximately, 63% of the consumers in this market are hobbyists. Students, parents of students, recreational players, and aspiring professionals are included in this category. This affinity tends to drive such users towards choosing music as their career, thereby creating growth opportunities for the market.
Professional musicians who have been in the industry for a long period prefer learning different and new instruments as a hobby in their leisure time. As a result, they own multiple instruments for personal practice as well. Such consumers are less price-sensitive and prefer using the highest quality products, which require regular maintenance. This factor is anticipated to contribute to the growth of the market over the coming years.

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Musical Instruments Market Report Highlights

• On the basis of instrument type, the stringed and percussion musical instruments occupied the largest market share in 2018. The growth of this segment is attributed to an increase in sales of electric guitars and keyboards
• On the basis of geography, the Asia Pacific region dominated the global musical instruments market in 2018 owing to the presence of many global players such as Yamaha, Kawai, and Guangzhou Pearl River Piano Group Ltd. in countries including Japan and China.

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