New York, United States , Aug. 16, 2024 (GLOBE NEWSWIRE) -- The Global Turntables Market Size is Expected to Grow from USD 359.98 Million in 2023 to USD 613.87 Million by 2033, at a CAGR of 5.48% during the forecast period 2023-2033.
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A phonograph, also referred to as a turntable, is a rotating circular platform that plays audio records. A motor rotates at a steady speed to drive the platter of a turntable. To create the sound, a vinyl record often called a phonograph record is set a top the rotating platter. Through the use of direct drive and belt drive systems, these vibrations are transformed into sound. The engine rotates the platter with the use of an elastic belt due to belt drive technology. Live performances and vinyl recordings are the main drivers of turntable demand, and the turntable market is predicted to be driven by both of these generates. The turntable market is expanding due in large part to the increasing vinyl restoration, which is drawing many people to acquire and play vinyl records because of the actual material and nostalgic feeling it offers. To make turntables that are as ideal as possible in terms of wearability and sound quality, manufacturers competed with one another, altering the original design and combining it with contemporary technology. However, the high price of expensive products is one important factor that could have an impact on the turntable sector. The market supply of turntables is restricted by the high investment costs associated with an exceptional grade turntable system.
Browse key industry insights spread across 240 pages with 110 Market data tables and figures & charts from the report on the "Global Turntables Market Size, Share, and COVID-19 Impact Analysis, By Type (Direct-drive Turntable, Belt-drive Turntable, & Idler-wheel Turntable), By Application (Home Entertainment, Bar and Music Club and Music Production), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The direct-drive turntables segment is predicted to hold the largest market share through the forecast period.
Based on the type, the turntables market is classified into direct-drive turntables, belt-drive turntables, and idler-wheel turntables. Among these, the direct-drive turntables segment is predicted to hold the largest market share through the forecast period. It's an excellent turntable with direct drive. won't deteriorate as a belt does, and the sound quality remains the same.
The music production segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the turntables market is divided into home entertainment, bar and music club, and music production. Among these, the music production segment is anticipated to hold the highest market share during the projected timeframe. Turntables are used by experts in studios to generate, mix, and master records in this crucial area, which calls for exact control and excellent sound output.
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North America is estimated to hold the largest share of the turntables market over the forecast period.
North America is estimated to hold the largest share of the turntables market over the forecast period. The demand for vinyl records and the accelerated development of new turntables will be driving the region's vinyl record market's quick growth over the time frame anticipated. In this market, sellers should have plenty of opportunities. In addition, the growth of bars and concert halls will drive the local market's progress.
Asia Pacific is predicted to have the highest CAGR growth in the turntables market over the forecast period. Asia Pacific has seen a rise in the production of hip-hop music through turntable use. Globally, hip-hop is growing in popularity, particularly in South Korea, Japan, China, and India.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Turntables Market are Audio-Technica, Lamborghini and Technics, Crosley, Sony, Teac, Denon, Thorens, Panasonic, VPI Nomad, JR Transrotor, Stanton, Numark, Music Hall, Clearaudio, and Other Key Vendors.
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Recent Developments
- In May 2024, Lamborghini and Technics launched the new SL-1200M7B turntable. The SL-1200M7B is a special edition based on the SL-1200MK7/SL-1210MK7 DJ versions from the SL-1200 turntable series, which have received a great deal of attention and recognition over time.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the turntables market based on the below-mentioned segments:
Global Turntables Market, By Type
- Direct-drive Turntable
- Belt-drive Turntable
- Idler-wheel Turntable
Global Turntables Market, By Application
- Home Entertainment
- Bar and Music Club
- Music Production
Global Turntables Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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