Global Electric Guitar Market Overview:
An electric guitar is a type of guitar that uses pickups to translate the vibration of its strings into electrical pulses, which is then made louder by an amplifier and a speaker. The signal that comes from the guitar may also be electronically modified with effects like reverb or distortion. The increasing disposable income and growing interest of people in music are the key factors for the growth of the electric guitar market Some of the key players profiled in the study are Epiphone (U.S), Fender (U.S), Gibson (U.S), Karl Höfner (Germany), Dean Guitars (U.S), Ibanez (Japan), Cort Guitars (South Korea), ESP Guitars (U.S), Taylor Guitars (U.S) and B.C. Rich (U.S).
On the basis of geography, the market of Electric Guitar has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Electric Guitar market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Disposable Income and Growing Interest of People in Music
- Increasing Number of Musical Bands across the Globe
- Introduction of New Stylish Products
- Lack of Highly Skilled and Trained Labor
- Availability of Substitute
- Continued Increasing Number of Rock Music
- Increase in Use of Mobile Virtual Instruments Apps
- High Manufacturing Cost of Electric Guitar
An international crackdown on illegal logging in tropical forests has ensnared the makers of some guitars and other musical instruments, whose top-end products require small amounts of rosewood, a material prized for its rich, multicolored grain and resonant sound. and Since new trade rules took effect in 2017, guitar makers have complained about long delays in getting permits to import rosewood and export finished instruments that contain it.
On Dec 4, 2018, Fender Musical Instruments Corporation (FMIC) today announced the release of its American Performer Series, a brand new electric guitar line and gateway into Fender’s Corona, Calif.-made electric guitar offerings
Target Audience:Manufacturers of Electric Guitar, Suppliers of Electric Guitar Parts, Wholesalers, Distributors and Retailers of Electric Guitar, Music Industry, End User and Governmental Bodies
Major Objectives Focused through this Study To define, describe, and forecast the Global Electric Guitar market on the basis of product [Solid Body, Semi-Hollow Body and Hollow Body] , application [Professional Performance, Learning and Training and Individual Amateurs], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Electric Guitar market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Electric Guitar industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Godin (Canada), C. F. Martin & Company (U.S), Samick Musical Instruments (South Korea), Schecter Guitar Research (U.S), Rickenbacker (U.S), G&L Musical Instruments (U.S) and Carvin (U.S).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Electric Guitar market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.