Forecast Period 
Market Size (Base Year) 
Market Size (Forecast Year)
CAGRGlobal Guitar Market, By Type (Acoustic Guitars, Electric Guitars), Application (Online Retail, Offline Retail) – Industry Trends and Forecast to 2030.
Guitar Market Analysis and Size
Over the last few years, the popularity of guitar has risen quite steadily. It has become a more required instrument than piano. Music schools have more students which are highly seeking to learn guitar. The increasing interest in music is significantly enhancing the demand for the guitar around the world. Electric guitars are essential to popular music genres such as metal and rock. The popularity of these popular music genres encourages some people to learn the guitar.
Data Bridge Market Research analyses that the guitar market is expected to reach USD 9369.91 million by 2030, which is USD 7115.62 million in 2022, registering a CAGR of 3.50% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
Guitar Market Scope and Segmentation
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Report Metric |
Details |
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Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Years |
2021 (Customizable to 2015 - 2020) |
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Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
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Segments Covered |
Type (Acoustic Guitars, Electric Guitars), Application (Online Retail, Offline Retail) |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
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Market Players Covered |
Fender Musical Instruments Corporation (U.S.), Gibson Brands, Inc,(U.S.), Karl Höfner GmbH & Co. KG (Germany), PRS Guitars (U.S.), Yamaha Corporation (Japan), B.C. Rich Guitars (U.S.), Cort Guitars (Indonesia), The ESP Guitar Company (U.S.), G&L Musical Instruments (U.S.), Godin Guitars (Canada), SAMICK MUSICAL INSTRUMENT CO.,Ltd (South Korea), Schecter Guitar Research (U.S.), TAYLOR-LISTUG, INC (U.S.), Rickenbacker International Corporation (U.S.) |
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Market Opportunities |
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Market Definition
Guitar is a type of musical instrument usually consisting of six strings played with hands by plucking the strings. Some of the common types of guitar are electric and acoustic guitar. Furthermore, the guitars are used as rhythm, lead, and sometimes both.
Guitar Market Dynamics
Drivers
- Increasing demand of acoustic guitars
Acoustic guitars are played without any amplification and with the sound of an electric guitar. The acoustic guitar is lighter and smaller and then other guitars, it has a small amplifier or PA system and only one pickup to make the sound of instrument louder. Many famous musicians such Kurt Cobain, as Eric Clapton, Jimi Hendrix have been known to play acoustic guitars. Therefore, increasing demand of acoustic guitars is anticipated to drive the market growth during the forecast period.
- Increasing technological advancements toward music
The increasing involvement of internet and technological advancements pushed music education toward next level. Video conferencing, file sharing, instant messaging and using digital whiteboards are the medium for online music education market. Digital music tools such as Digital sheet music, YouTube and apps, and cloud-based systems are changing the music education sector from the traditional music learning process.
Opportunities
- Increasing popularity of music-related leisure activities
The number of live music shows is increasing rapidly all over the globe. This further encourages people to learn to play different types of guitars and also encourages them to adopt music as a career. Thus, the increasing popularity of music-related leisure activities will expected to create immense opportunities for the growth of the global guitar market during the forecast period.
Restraints/ Challenges
- Multiple issues associated with the usage of guitar
The stringent rules and regulations procurement of rosewood are expected to hamper the growth of the market in the forecast period. Furthermore, the increasing usage of music production software rather than guitars might further challenge the guitar market growth of the guitar in the upcoming period.
This guitar market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the guitar market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Guitar Market
The outbreak of COVID-19 has witnessed high demand of guitar the global market. People have begun to pick up new hobbies such as playing guitar which is being one of the most salient choices during the pandemic. According to the analysis of Music strive, the guitar sales augmented by 15.0 percent from 2019 to 2020. Fender, one of the major guitar manufacturers in the U.S., stated that guitar sales augmented by 17.0 percent during the pandemic because housebound consumers looked for new hobbies. Thus, COVID-19 left a positive impact on the growth of the guitar market.
Recent Development
- In 2021, Gibson Brands, Inc announced their partnership with Kirk Hammett, a famous guitarist from the well-known heavy metal band Metallica. Through this partnership, the company goals to launch a signature line of guitars.
- In 2021, Fender Musical Instruments collaborated with the company for the launch of Kyser’s electric guitar capos. This newly launched electric guitar capos are available at Fender and Kysermusical.
- In January 2022, Samsung divulged a smart and new electric guitar named the ZamString to ease and simplify the learning process for learners. It is a part of ZamStar which is a combination of the app and guitar.
Global Guitar Market Scope
The guitar market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Acoustic Guitars
- Electric Guitars
Application
- Online Retail
- Offline Retail
Guitar Market Regional Analysis/Insights
The guitar market is analyzed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the guitar market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the guitar market in terms of revenue and market share owing to the growing awareness regarding concerts and music coupled with increasing disposable income among middle-class groups in this region.
North America is expected to be the fastest developing region during the forecast period of 2023-2030 due to increasing demand for electric guitars amongst rock musicians electric guitars offered wide range of tones.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Guitar Market Share Analysis
The guitar market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to guitar market.
Some of the major players operating in the guitar market are:
- Fender Musical Instruments Corporation (U.S.)
- Gibson Brands, Inc, (U.S.)
- Karl Höfner GmbH & Co. KG (Germany)
- PRS Guitars (U.S.)
- Yamaha Corporation (Japan)
- B.C. Rich Guitars (U.S.)
- Cort Guitars (Indonesia)
- The ESP Guitar Company (U.S.)
- G&L Musical Instruments (U.S.)
- Godin Guitars (Canada)
- SAMICK MUSICAL INSTRUMENT CO.,Ltd (South Korea)
- Schecter Guitar Research (U.S.)
- TAYLOR-LISTUG, INC (U.S.)
- Rickenbacker International Corporation (U.S.)
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