LOS ANGELES, Feb. 06, 2019 (GLOBE NEWSWIRE) -- The latest research report by QY Research states that the global guitar amplifier market is poised to generate a steady revenue as music schools gain prominence. The guitar amplifier market was valued at USD120 Mn in 2017. The global market is expected to register a CAGR of 0.7% during the forecast period. The research report, titled “Global Guitar Amplifier Industry Research Report, Growth Trends and Competitive Analysis 2018-2025”, offers an in-depth analysis of the market trends and its trajectory of the forecast period.
Global Guitar Amplifiers Market: Drivers
The global market for guitar amplifiers is expected to surge in the coming years as music is becoming an important part of cultures across generations. Emphasis on teaching and learning music in schools and colleges has encouraged sales of guitar amplifiers. Increasing number of music concerts and remarkable innovation in development of innovative products has augmented the demand for guitar amplifiers.
Global Guitar Amplifiers Market: Segmentation
On the basis of type, the global guitar amplifiers market is segmented into combo guitar amplifiers and guitar head amplifiers. Based on technology, guitar amplifiers have undergone major transformation and can be categorized into tube amplifiers, solid state amplifiers, modeling amplifiers, and hybrid amplifiers.
Global Guitar Amplifiers Market: Forecast by Region
On the basis of geography, the global guitar amplifier market is segmented into Europe, North America, Asia Pacific, Central and South America, and the Middle East and Africa. Out of these, North America and Europe collectively dominate the global market for guitar amplifiers. Presence of renowned music schools in the developed economies, emphasis on music across cultures, strong presence of leading players, and higher purchasing power are expected to drive the North America and Europe guitar amplifier market.
Analysts expect that Asia Pacific is also projected to show a significant growth rate in the global guitar amplifier market. Developing economies of India and China are expected to be key contributors as the countries are witnessing remarkable western influence. Growing inclination of millennials toward music is also prompting the younger population to invest in guitar amplifiers.
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Global Guitar Amplifiers Market: Competitive Landscape
The key players operating in the global guitar amplifiers market are Fender, Marshall, Blackstar, Hughes & Kettner, Orange and VOX, Peavey, Roland, Laney, Yamaha, PRS, Dr.Z, Mesa, Fishman, and Music Group and Johnson. The report states that Fender, Peavey, and Marshall were the top three players of 2016 with a unit output of 134.7, 105.5, 57.1 K, respectively.
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