Industry Background:
The viola bows market is growing rapidly due to the rising inclination of the population towards western music and the rising number of concerts and live music events. The growing popularity of viola bows among millennials and growing online distribution channels are some of the other factors attributing to the growth of the electric violin market. Moreover, rising demand from the developing economies expected to fuel the product demand during the forecasted period.This growth is primarily driven by Increasing Adoption of Music as Carrier and Rising Number of Concerts and Live Performances across the World.
Globally, a noticeable market trend is evident Growing Online Distribution Channel for Viola Bows. Major Vendors, such as Bellafina (United States), Georg Werner (United States), The Hidersine Company (United Kingdom), Ingles (United States) and Kurt S. Adler, Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Increasing Adoption of Music as Carrier
- Rising Number of Concerts and Live Performances across the World
Market Trend
- Growing Online Distribution Channel for Viola Bows
Restraints
- Rising Prices of Raw Material
Opportunities
Increasing Disposable Income in Developing Regions and Growing Demand from Emerging Market
Challenges
Increase in Use of Mobile Virtual Instruments Apps
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