The global electric guitars market size reached US$ 2.91 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.67 Billion by 2028, exhibiting a growth rate (CAGR) of 6.70% during 2023-2028. Increasing number of guitarists, rising influence of social media, and the easy availability through e-commerce channels represent some of the key factors driving the market.
|Electric Guitars Market Size in 2022
||US$ 2.91 Billion
|Electric Guitars Market Forecast in 2028
||US$ 4.67 Billion
|Electric Guitars Market Growth Rate 2023-2028
Electric guitars represents one of the most popular musical instrument with a solid or semi hollow body and a neck with a fingerboard. They use a pickup and an amplifier to produce sound and are generally used in several musical genres, such as rock, jazz, blues, pop, country, and metal. They are capable of producing various sounds and effects, such as reverb, distortion, and overdrive, and can be connected to other devices, including pedals and recording equipment. At present, key players are launching novel variants like modular and customizable electric guitars that allow players to easily swap out parts and create unique instruments as per their requirements. They are also incorporating high tech features, such as built-in effects, wireless connectivity, and digital modeling in electric guitars to offer a wide range of sounds and playing options.
Electric Guitars Market Trends:
The increasing interest in music among individuals and the rising number of guitarists currently represent one of the major factors driving the demand for electric guitars around the world. Moreover, the growing popularity of electric guitars on account of rapid urbanization and inflating income levels are influencing the market positively. In addition, the expanding number of music festivals and live concerts is bolstering the growth of the market. Apart from this, the rising number of music institutions, clubs, and associations is catalyzing the demand for electric guitars worldwide. Furthermore, the growing influence of social media, which makes it easier for artists to share their work and connect with fans, is presently creating a positive outlook for the market. Besides this, there is an increase in the integration of computer-aided design (CAD), computer aided manufacturing (CAM), 3D printing, and sensors to design, test the shape, control, and optimize the manufacturing processes to produce different parts of the electric guitars. This, coupled with the rising utilization of robotics to automate manufacturing processes, such as woodworking and assembling, is strengthening the growth of the market. Additionally, the expanding number of online shopping channels that offer a wide range of variants in different colors is influencing the sales of electric guitars across the globe.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global electric guitars market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on type, price, distribution channel, and end user.
- Electric Acoustic Guitar
- Seven String Guitar
- Solid Body Guitar
- Hollow Body Guitars
The report has provided a detailed breakup and analysis of the electric guitars market based on the type. This includes electric acoustic guitar, seven string guitar, solid body guitar, hollow body guitars, and others. According to the report, solid body guitar represented the largest segment.
A detailed breakup and analysis of the electric guitars market based on the price has also been provided in the report.
Distribution Channel Insights:
The report has provided a detailed breakup and analysis of the electric guitars market based on the distribution channel. This includes online and offline. According to the report, offline represented the largest segment.
End User Insights:
- Individual Amateurs
A detailed breakup and analysis of the electric guitars market based on the end user has also been provided in the report. This includes professionals, learners, and individual amateurs.
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for electric guitars. Some of the factors driving the Asia Pacific electric guitars market included the growing popularity of western music, increasing disposable income, and the emergence of local artists and bands.
The report has also provided a comprehensive analysis of the competitive landscape in the global electric guitars market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered C. F. Martin & Company, Cort Guitars, Dean Guitars, Fender Musical Instruments Corporation (Servco Pacific Inc.), Gibson Brands Inc., Hoshino Gakki Co. Ltd., Karl Höfner GmbH & Co. KG, Michael Kelly Guitar Co., Paul Reed Smith Guitars, Samick Musical Instrument Co. Ltd., Yamaha Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Electric Acoustic Guitar, Seven String Guitar, Solid Body Guitar, Hollow Body Guitars, Others
||Low, Medium, High
|Distribution Channels Covered
|End Users Covered
||Professionals, Learners, Individual Amateurs
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||C. F. Martin & Company, Cort Guitars, Dean Guitars, Fender Musical Instruments Corporation (Servco Pacific Inc.), Gibson Brands Inc., Hoshino Gakki Co. Ltd., Karl Höfner GmbH & Co. KG, Michael Kelly Guitar Co., Paul Reed Smith Guitars, Samick Musical Instrument Co. Ltd., Yamaha Corporation, etc.
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Key Questions Answered in This Report:
- How has the global electric guitars market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global electric guitars market?
- What is the impact of each driver, restraint, and opportunity on the global electric guitars market?
- What are the key regional markets?
- Which countries represent the most attractive electric guitars markets?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the electric guitars market?
- What is the breakup of the market based on the price?
- Which is the most attractive price in the electric guitars market?
- What is the breakup of the market based on the distribution channel?
- Which is the most attractive distribution channel in the electric guitars market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the electric guitars market?
- What is the competitive structure of the global electric guitars market?
- Who are the key players/companies in the global electric guitars market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the electric guitars market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global electric guitars market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the electric guitars industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.