What Transformation Has the Electric Guitars Market Undergone?
The electric guitars market has seen considerable growth due to a variety of factors.
• In recent times, the electric guitars market has seen hasty expansion. The market size is predicted to increase from $4.1 billion in 2024 to $4.51 billion in 2025, with a compound annual growth rate (CAGR) of 10.1%.
The previous growth has been due to factors such as the prevalence of rock and roll culture, changes in music tastes, the impact of guitar celebrities, advancements in manufacturing, cultural significance, and media and advertising.
What is the Forecasted Growth of the Electric Guitars Market Size?
The electric guitars market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of electric guitars is anticipated to experience a swift expansion in the coming years, reaching a value of $6.9 billion by 2029, with a compound annual growth rate (CAGR) of 11.2%.
Reasons for this expected growth during the projection period include ongoing evolution in music genres, increased e-commerce and online sales, sustainable and environment-friendly practices, worldwide market development, customization and personalization trends. Significant trends going forward involve social media influence and digital platforms' role, tech advancements, digital integration, booming online sales, and artist partnerships.
What Are the Critical Driver Fuelling the Electric Guitars Market's Growth?
The increasing fascination for music is playing a significant role in propelling the expansion of the electric guitars market. The allure of music's rejuvenating impact on the soul and its entertaining variety is attracting more people. Key components of popular music genres include the electric guitar, gemstones, and essence. The trendiness of these genres is inspiring many to learn guitar playing. For example, the report from THIS IS MUSIC 2023, based in the UK, indicated in June 2024 that recorded music revenues persisted to grow in 2022, propelled by various factors. Vinyl sales revenue experienced a 3.1% growth, while streaming revenue saw a 6.3% hike from the previous year. Consequently, the escalating interest in music is anticipated to boost the future growth of the electric guitars market.
What Is The Segmentation Of The Global Electric Guitars Market?
The electric guitars market covered in this report is segmented –
1) By Type: Electric Acoustic Guitar, Seven String Guitar, Solid Body Guitar, Hollow Body Guitar, Other Types
2) By Price: Low, Medium, High
3) By Distribution Channel: Online, Offline
4) By End-user: Professionals, Learners, Individual Amateurs
Subsegments:
1) By Electric Acoustic Guitar: Cutaway Electric Acoustic Guitar, Non-Cutaway Electric Acoustic Guitar
2) By Seven String Guitar: Extended Range Seven String Guitar, Baritone Seven String Guitar
3) By Solid Body Guitar: Single-Cut Solid Body Guitar, Double-Cut Solid Body Guitar, Super Strat Solid Body Guitar
4) By Hollow Body Guitar: Full Hollow Body Guitar, Semi-Hollow Body Guitar
5) By Other Types: Baritone Guitar, Travel Electric Guitar, Specialty Electric Guitar
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What Emerging Trends Are Shaping The Electric Guitars Market Landscape?
Strategic alliances and cooperative efforts have become a prevalent trend in the electric guitars market. The main players in the electric guitars market are concentrating on establishing partnerships and collaborations to fulfill consumer expectations and fortify their market stature. In July 2024, Chapman Guitars, a UK firm renowned for top-tier electric guitars, announced a fresh collaboration with Musifacts for an unspecified sum. This alliance was aimed to boost Chapman Guitars' product range by implementing avant-garde music tech solutions that elevate the overall guitar playing experience. Musifacts Europe, based in the Netherlands, is acclaimed for its groundbreaking audio and music software that helps musicians optimize their sound and performance.
Who Are the Key Players in the Electric Guitars Market?
Major companies operating in the electric guitars market include:
• Gibson Brands Inc.
• Alembic Inc.
• Fender Musical Instruments Corporation
• Yamaha Corporation
• CF Martin & Company
• Alvarez Guitars
• Behringer Guitars
• PRS Guitars
• Paul Reed Smith Guitars Ltd.
• Ampeg
• ESP Company Ltd
• Schecter Guitar Research
• Hoshino Gakki Co. Ltd.
• Dean Guitars
• Babicz Guitars
• Rickenbacker International Corp
• Carvin Corporation
• B C Rich Guitars.
• G&L Musical Instruments
• Michael Kelly Guitars
• Jackson Guitars
• Cort Guitars
• Epiphone
• Airline Guitars
• Antoria
• Aria Guitars
• Ashton Music
• Avalon Guitars
What are the Regional Insights into the Electric Guitars Market?
Asia-Pacific was the largest region in the electric guitar market in 2024. The regions covered in the electric guitars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
