Dallas, Texas, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The ability to enhance one’s mathematical ability and increase perseverance will significantly boost the growth of the global musical instrument market. Playing musical instruments involves extreme hand-eye movement and helps to improve coordination capability in an individual. Training undertaken in any or several musical instruments instils superior cognitive skills and helps to gain efficient time management skills. Owing to the expansion of social passion towards music and dance will immensely contribute to the growing demand for the global musical instrument market.
Learning musical instruments can act as a passive or permanent source of income for individuals performing in a band or orchestra. The vast number of opportunities currently available in the music industry will significantly boost the global musical instrument market growth. The global musical instruments market will achieve an expected market value of USD 12.58 Billion with an estimated CAGR of 4.24% by 2030.
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Furthermore, the musical instrument market can be classified into the keyboard, percussion, strung, brass and woodwind based on the instrument types. With the advent of the latest musical instruments built with cutting-edge technologies, the demand for stringed musical instruments is at its peak. The knowledge of the stringed musical instrument is a highly demanded and paid skill in the current music industry. Playing stringed instruments reduces heart disease and enhances our mental health due to which the recent generation has increasingly focused on learning several stringed musical instruments including guitar and violin. Several research has revealed that playing a stringed musical instrument can help to relieve stress to a great extent.
Musical Instrument Market Scope :
| Metrics | Details |
| Key Players | Yamaha Corporation, Pearl, Sonor, ESP, Steinway Musical Instruments, Granada, Pluto, Gibson Guitars and Basses, Tristar, Zildjian Cymbals, CF Martin, QRS Music, Paiste Cymbals, Tama, Cort, Casio, Freq Roland, Fender Musical Ibanez, Korg, Mapex, Kawai |
| By Type | Piano & Key Instruments, Organs, String Instruments, Air Blown & Percussion Instruments |
| By Applications | Concerts, Training, Leisure |
| BY End Users | Personal Users, Commercial Purpose, Others |
| By Region | Cosmetics Stores, Pharmacy & Drugstores, Dermatology Clinics, Salons |
The worldwide market has attained superior heights owing to topical progresses and modernizations. PreSonus Audio Electronics and Fender Musical Instruments collaborated in November 2021 as per an agreement to enhance the software solution towards musical creativity and strengthen their position in the global market. A multi-instrument feature was released in May 2020 by TuCuatro that would provide a real-time musical instrument feature and also help to learn the musical chords of several songs. The advancements made in the global musical instrument market by some of the key market players will immensely benefit the global market growth.
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A noteworthy share of the universal market will be captured by the APAC region by 2030. The rising influence of western music in the Asia-Pacific region will significantly boost the musical instrument market growth. The initiatives taken by the government to spread awareness about individual creativity and the freedom to follow one’s musical passion along with the presence of several opportunities in the music industry will immensely benefit the regional market growth. Being the native place of many famous personalities in the field of music, the Asia-Pacific region will dominate the musical instrument market in the future as well. The availability of several musical instrument learning resources and lower prices of the instruments will help in the expanding growth of the regional market. The widespread availability of cheap labour and raw material required for the production of musical instruments will significantly boost the regional musical instrument market growth.
Table of content:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Musical Instrument Market by Type, 2022-2029 (USD Million)
5. Musical Instrument Market by End Users, 2022-2029 (USD Million)
6. Musical Instrument Market by Application, 2022-2029 (USD Million)
7. Musical Instrument Market by Region 2022-2029 (USD Million)
8. Musical Instrument Market by Region 2022-2029 (USD Million)
North America
US
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
South America
Brazil
Mexico
Rest of South America
Middle East & Africa
9. Competitive Landscape
10. Company Profiles
11. Appendix
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