Global Guitar Market to Grow by 3% CAGR in 2020, C. F. Martin & Co. Inc. and Fender Musical Instruments Corp. Emerge as Key Contributors to Growth | Technavio

Technavio has been monitoring the global guitar market size and it is poised to grow by USD 468.78 million during 2020-2024, progressing at a CAGR of almost 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

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Technavio has announced its latest market research report titled Global Guitar Market 2020-2024 (Graphic: Business Wire)

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low on the guitar market. The market growth in 2020 is likely to INCREASE compared to the market growth in 2019.

Frequently Asked Questions:

• Based on segmentation by product, which is the leading segment in the market?
  Acoustic guitar segment led the growth of the market in 2019.
• What are the major trends in the market?
  Increasing demand for customized guitar is a key trend in the market.
• At what rate is the market projected to grow?
  The market is expected to grow at a CAGR of almost 3% during the forecast period.
• Who are the top players in the market?
  C. F. Martin & Co. Inc., Fender Musical Instruments Corp., Gibson Brands, Inc., HOSHINO GAKKI Co. Ltd., Karl Höfner GmbH & Co. KG, Paul Reed Smith Guitars, Rickenbacker International Corp., Schecter Guitar Research Inc., Taylor-Listug Inc., and Yamaha Corp. are some of the major market participants.
• What are the key market drivers?
  The growing popularity of music-related leisure activities will offer immense growth opportunities.
• How big is the APAC market?

The market in APAC is expected to grow by 46% during the forecast period.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. C. F. Martin & Co. Inc., Fender Musical Instruments Corp., Gibson Brands, Inc., HOSHINO GAKKI Co. Ltd., Karl Höfner GmbH & Co. KG, Paul Reed Smith Guitars, Rickenbacker International Corp., Schecter Guitar Research Inc., Taylor-Listug Inc., and Yamaha Corp. are some of the major market participants. The growing popularity of music-related leisure activities will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this guitar market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Guitar Market 2020-2024: Segmentation

Guitar Market is segmented as below:

• Product
  • Acoustic
  • Electric
• Geographic Landscape
  • North America
  • Europe
  • APAC
  • South America
  • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40025

Guitar Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The guitar market report covers the following areas:

• Guitar Market Size
• Guitar Market Trends
• Guitar Market Industry Analysis

This study identifies the increasing demand for customized guitars as one of the prime reasons driving the Guitar Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Guitar Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist guitar market growth during the next five years
• Estimation of the guitar market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the guitar market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of guitar market vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Value chain analysis
• Market segmentation analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2019
• Market outlook
• Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY PRODUCT

• Market segmentation by product
• Comparison by product
• Acoustic - Market size and forecast 2019-2024
• Electric - Market size and forecast 2019-2024
• Market opportunity by product

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 11: MARKET TRENDS

• Growing online retailing
• Increasing demand for customized guitars
• Rising demand for guitars made of eco-friendly raw materials

PART 12: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 13: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• C. F. Martin & Co. Inc.
• Fender Musical Instruments Corp.
• Gibson Brands, Inc.
• HOSHINO GAKKI Co. Ltd.
• Karl Höfner GmbH & Co. KG
• Paul Reed Smith Guitars
• Rickenbacker International Corp.
• Schecter Guitar Research Inc.
• Taylor-Listug Inc.
• Yamaha Corp.

PART 14: APPENDIX

• Research methodology
• List of abbreviations
• Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201023005363/en/